Crucial Question: Is It 1995 or 2007?Before reading this week's update on the global macro and equities picture, investors are advised to add three new words to their financial dictionary:Endcyclitis - the fear that the global economic cycle is about to turn for the worseABC - Anything But Cash; primal,... Show More
The US market has become more complex. Earnings have been strong during 2017 but multiples are highly elevated, meaning there are increasingly fewer opportunities. One of the biggest risks for markets would have to be US equities. It’s more than 50% of the MSCI World Index, and where many people... Show More
Hamish Douglass, CEO of Magellan Financial Group, says monetary policy and the actions of central banks are “the number one macro issue in the world.” Fixed income markets are "massively distorted," which distorts all other asset markets. An unwinding of monetary policy could have a serious impact on asset prices.... Show More
Janet Yellen spooked the bond market on Friday with a speech in which she talked about letting the economy run hotter even if it meant the Fed's inflation target could be exceeded. The Federal Reserve may need to run a "high-pressure economy" to reverse damage from the 2008-2009 GFC that... Show More
Risk taking within the financial markets have been in place for some time, with Central Banks setting interest rates at negative levels in real terms. Show More