Media Center

Last week we suggested that US markets were priced for the optimal combination of disinflation, aggressive Fed easing, growth near trend,...

The past two months over the northern hemisphere summer have been extraordinary for markets. The euphoria of the AI boom contributed to...

It is an understatement to say that the price action over the past week has been impulsive, rapid, and emotional (chart 1). There is an...

To outperform the crowd, you must dare to be different. Put another way, the best investments are typically made from a position of deep...

It is an understatement to say that the past few weeks have been eventful for geopolitics and macro. Our fear at the end of June was that...

It is important to remember that currencies are always a relative price. Interest rates, growth, inflation, and external positions are...

As widely expected, the FOMC left the policy rate unchanged at the June meeting. Much of the market focus in the communication was on the...

Over the past few months there has been a growing prevailing bias that equities would enter a “crash up” or “melt-up” phase if weak macro...