After today’s soft inflation report from the US, we have a look at how markets are positioned at current junctures. Find out if you have your eggs in the right basket, and what consensus is currently.
Market seems to be all over the place these past trading days and November has thus far both been trick & treat. We are green and have entered new positions. Read our full take below
Last week’s rally was truly remarkable, especially considering the months of hardship that most assets endured prior. Could this be the long-awaited revenge of the longs, with short covering poised to dominate the price action in the days ahead? Dive into our analysis below to find out.
A mixed week for us with duration performing, but our equity spreads have taken a beating along with our 1 naked short. We booked some profits and added further exposure in Fixed income. Read below for our full take on the week and how we see the market in coming weeks
With central bank policy and energy having dominated FX throughout 22’, we have a look at what underlying fundamentals and correlations are telling us about the fair value of the hottest FX pairs currently.
These days, everything seems to be in motion, but not all at the same pace of change. Dive into our inaugural Monday edition of Positioning Watch below to discern the disparities
The long awaited stimulus package is here! But it is anything but overwhelming… Read our takeaways here
From the ongoing depletion of the Chinese US Treasury holdings, to the BoJ’s impact on global markets concluding with the $-liquidity impact of the ON RRP facility. Here’s a list of 10 MUST watch charts in macro.
A volatile week with plenty on the plate for investors. Biden’s push for war funding while Capitol Hill remains in gridlock. How are the bets stacking up? Dive into our weekly positioning watch below to find out
We barely dare suggest it. But are bonds finally reap for entry on the long side? We are definitely getting there. Read our latest Portfolio Watch below
In the wake of this tragic situation that is still unfolding, investors are grappling with the need to understand and navigate the turmoil. See our main Positioning takeaways here
Money is flowing towards safety, but the foundation beneath the market remains solid, with no signs of a downturn yet. In light of the geopolitical events we assess our Portfolio below
There has been a load of discussions on the timing of the recession, but just as the consensus narrative is shifting towards a soft landing scenario, the recession risk is probably actually on the rise. Here is why.
As we review the events of this eventful week, it unfortunately appears to conclude with a tragic development, as we find ourselves reporting on the potential beginning of yet another conflict.
Oil prices have collapsed in recent days undermining one side of the USD/Oil wreckingball. Good news for EM’s generally? We offer our takeaway below and how we prefer to play it
Lots of talk around a too-strong USD, especially in Asian markets. The issue is that the move in the USD is driven by BOTH monetary policy and relative energy balances. It is hard to make a Plaza Accord without a Riyadh accord.
Oil positioning is not as long as people think when looking at actual volumes, bonds are still underperforming, and the bearish sentiment in equities still prevails. Read along for more positioning data insights!
We’ve taken a massive WIN in recent weeks, but the markets are precarious here after blood on the street as seasonality shifts. Is there a final surge before the impending collapse?
When things seem to be spiraling downwards, trades that capitalize on relative weakness often present favorable risk-to-reward opportunities. We’ve recently entered such a trade ourselves
The Fed projects higher rates for longer, while oil production cuts persist. How do markets play the “Higher for longer and Lower for longer” ? Read our weekly report below
Rhetorical intervention in JPY and CNY helped risk assets and high beta stocks perform yesterday, but is the stabilization sustainable or still fundamentally challenged? We lean towards the latter.
Emerging market central banks demonstrated their foresight in 2021, acting ahead of the curve. However, there is a looming concern that the resurgence in energy prices might pose a challenge for them, much like it did in 2022.
We have run the numbers on historical correlations between the US PMI spread and various asset classes to find out what you should buy if manufacturing rebounds while services weaken.
The Turkish central bank hiked the interest rates by 750 basis points against the market expectations of 200 bp underlying this month and both stocks & lira rallied on the back of it. Where is the Turkey case heading from here? Read our view here
Finance Journos are busy flying this week. But what is going on with BRICS & the FED? EM’s care more about the latter this week
Will Europe be the next shoe to drop in the Chinese RE soap opera? Here is how we position for lagged spill-overs to Europe.
How many hawks and doves will arrive in Wyoming for the Jackson Hole conference? The doves have received a perfect excuse from China and the PBoC will hope and pray that Powell announces an explicit pause, but he won’t.
Summer volatility razor, BoJ and Xi’s real estate malaise have all contributed to headwinds for most asset classes. We are still alive and kicking despite a few knocks and bruises. Read here for full context
Will the PBoC defend the 7.30 handle at all costs? What does it mean for risk appetite? And how will Commodity markets be impacted? 5 nuggets on the importance of USDCNY right here!
CPI is cooling with economic data still suggesting that we are in a Goldilocks scenario. But are markets claiming their victory too early? And will unusual optimism be the catalyst for a recession?
