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Global Strategy

Government’s are Coming for Big Tech, Should you be Worried?

Reports out of the mainland of late have seen a lot of discussion on President Xi Jinping’s new slogan of…

$4.5 Trillion of Stimulus is What Matters, Not the Fed Taper

In the “big picture” this writer continues to believe that central banks are becoming less important in the G7 world…

China Thinks the US Will Blink First in the Trade War

The Chinese renminbi remains in an upward trend against the US dollar, even though the pace of appreciation has slowed…

The End of the Stock Market Rebound is Only One COVID Mutation Away

The bias towards the pro-cyclical view here has in part been based on the assumption of vaccine efficacy and the…

The US Listed Chinese ADR is Dead, Invest in the Mainland Instead

Staying on the subject of last week’s article on China, a risk of late is that the direction of travel…

To Survive China’s Market Crackdown: Pick Your Sectors Wisely

There has been an almost perfect storm in recent weeks in terms of Chinese regulatory initiatives against private sector companies…

Rising Rents Feed Inflation, While Lower Bond Yields Trip Up Cyclicals

The June US CPI data came in well above consensus while the July data, released last week, still shows CPI…

Do Bond Investors Know Something about the Virus We Don’t?

It is always easy to come up with ex post facto rationalizations of market action. But this writer has to…

Owning Bonds is a Losers Game in a World of Unorthodox Money Policies

The biggest risk to the pro-cyclical view has always been that the vaccines cease to be effective against the new…