global macro

The mother of all “unknown unknowns” (to borrow some tortured phrasing from former US Defense Secretary Donald Rumsfeld, who passed away on Friday) hit the world a...

Factor investing aims to target quantifiable metrics that can explain differences in security returns. At a high level, these factors are broadly influenced by general...

Fixed-income investors have plenty of reasons for optimism despite credit assets’ historically high prices and stimulatory tailwinds that are almost blown out, says...

Given inflation is the most prominent theme in global investment markets, I wanted to provide some thought and insight into what the various outcomes of inflation...

The local market followed the US market again with a positive start that faded to a mainly flat close. After more than nine weeks without a turnover above $9 billion,...

Last month we presented our views on the reflation trade and potential impacts on credit returns, concluding that the strong recovery in Australian economic growth...

Thus far April’s US economic data has had a consistent theme despite the nation’s rapid progress on the vaccination front and the bounty of monetary stimulus that has...

By now most investors are tiring of their inboxes being filled by sell-side economists and strategists talking about reflation, how much more optimistic they are...

One of the themes we have been covering extensively for the last 18 months is electric vehicle/renewable energy mass adoption, and its impact on the battery metal...

After one of the longest periods of underperformance in history, governments and central banks' response to the COVID-19 crisis may well have ushered in a new era for...

Australian and global economies in 2021 will grow about 1.3% faster than forecast in December, according to the OECD. Research from the international policy body...

The first chart I featured in the "10 Charts to Watch in 2021" earlier this year was a somewhat unusual, and perhaps even confusing one... Basically, I decided to...

While all eyes are on the recent rise in yields, the debate has largely been centered around inflation expectations and how far the Fed will actually let inflation run...

The local market was hit from the start and gave up all the bounce from yesterday and some more. The main bashing was again led by the technology sector, with miners...

Bank of America's Global Fund Manager Survey (FMS) surveyed 225 investors, collectively holding $645 billion in assets under management, to determine the outlook for...

With the ASX 200 currently just 3.7% below its pre-pandemic level, many investors who didn’t buy the dip have a severe case of FOMO . Small caps are a possible...

In our highly-volatile global market currently driven by government stimulus and whipsawing investor sentiment – both rational and irrational – spotting investment...

When I opened my last letter to investors in June, I said that recovery was certain. The extraordinary fiscal response, and a likely vaccine, would help end the sharp...

It’s been a blessed few months since I last wrote about Brexit. Unfortunately, however, with it once again reclaiming newspaper headlines, Brexit can no longer be...

China A-shares have done well this year, rising by double-digit percentage points, and outperforming Asian and developed counterparts. Additionally, the wealth...