My Blog

We survey the macro factors shaping the global economy, and their implications for portfolio positioning as 2024 unfolds.

The Nikkei 225 recently climbed past its all-time closing high. We explore the factors behind investors’ enthusiasm and explain why a disappointing macroeconomic backdrop is not seen as obstacle.

Geopolitical tensions and policy uncertainty are driving inflation risks. We look at the potential role of fixed income in portfolio positioning.

Despite the hard realities of mounting losses on real estate loans, we think a fair dose of hyperbole is going around. We dissect the problem before arguing the overall U.S. banking system is healthy and able to weather any volatility ahead.

After growth stocks brought heartbreak in 2022, the growth style of investing was at the top of the leaderboard in 2023. Can the rebound continue?

We think investors willing to expand their traditional investment toolset to incorporate extra-financial factors stand to reap superior returns over time.

Fed Chair Jerome Powell tried to push back on near-term rate cut expectations, but markets shoved right back. Pricing suggests markets are concerned that if the Fed waits too long to cut rates policymakers will only have to cut them more.

With the Suez and Panama Canals operating below capacity, global shipping costs are climbing. We explore the corporate highs and lows from the situation and those that may benefit and those that may lose out.

After a strong rally to end 2023, U.S. small caps gave back much of their gains. We explore whether the asset class warrants patience from investors.