We have taken on a new FX position and have pinned another to the watchlist. See details below
Geopolitics and fiscal excess are fueling price pressures in global macro. But there’s one actor that could combine the two and undermine the inflationary momentum
Shippingwatch.dk stopped us out of our Shipping longs, but we are betting on three strong liquidity trades for our portfolio. See more here.
We see some interesting changes to the environment for January when we factor in rising liquidity and inflation at the same time.
We see cyclicality as overcooked in equity space, but find ways to exploit the stretched positioning.
We find value in the FX space again now that USDJPY seems to have comfortably broken 150 after a bit of volatility.
We flip our exposures in the Energy space and find value in adding a lagged proxy trade to the current oil price spike.
I think Biden’s executive order on investment screening is actually a good sign for US-China relations and a part of the ongoing “mini-detente”. Read why!
The purchase of TLT looks attractive from both a technical, tactical and fundamental perspective at this juncture. May inflation will look soft across the globe.