Q3-2023 is expected to mark the end of the earnings recession for the past three quarters, opening the door to positive earnings growth. Whether that would be sustainable or will sputter once the recession settles in as expected in…
The market has been held hostage by surging rates. Zombie companies are “alive” and are multiplying – they are highly sensitive to surging borrowing costs. Underweight Utilities to reduce portfolio duration. Maintain neutral…
Aggressive monetary tightening has always led to recession, although the timing is uncertain. The effects of high interest rates are starting to be felt. Investors should stay risk off and buy government bonds as a safe haven…
The S&P 500 Energy sector’s fortunes have recently reversed. After having been the worst performing sector in the first half of the year — losing 7.3% versus the S&P 500’s 15.9% gain — Energy is…
In June, the rally gained momentum and broadened due to positive economic data, particularly in the housing market. We expect cheaper cyclical sectors and styles to mark a change in leadership as the rally broadens, helped on by…
Investors are still cautious and have significant cash that needs to be put to work. Trickle-down of it into the US equity market may extend the rally. Overly bearish futures positioning is also a strong contrarian indicator.…
We Introduce our new macro models for the Eurozone’s equity earnings, which include sectoral forecasts. Find out what they predict for the next six-to-nine months.