global strategy
Yields, Yen, and Yield Curve Games: Inside Bessent’s Playbook
The stress test of the new Fed chairman is under way with the clear break of the 4.5% level on…
When AI Becomes the Economy
If the AI theme has continued to dominate price action in world stock markets, the American economy’s dependence on AI…
Is the AI Capex Boom Finally Reaching a Limit?
The hyperscalers have now reported after the SOX index suffered a 21% decline in July, with Micron down 41% from…
Here is How China Win’s The AI Power Race
China, accounting for 20% of the export of world manufactured goods and around 30% of world manufacturing output (value-added), has…
The Memorandum of Misunderstanding
It remains surprising the degree to which markets have remained calm since the original US-Israel attack on Iran on 28…
Don’t Let the AI Trade Distract you from Opportunity in the Land of the Rising Sun
Financial markets continue to ignore continuing historical geopolitical developments and maintain a near all-consuming focus on AI. As estimates for…
With an Energy and Funding Advantage, is China’s DRAM Machine Unstoppable?
There has been a general surprise that markets have not corrected more in recent months given the historic newsflow in…
The Chinese Memory Tsunami
It is now more than 14 weeks since the US-Israel attack on Iran, and there remains a remarkable lack of…
Emerging Markets Have A Semiconductor Problem
The newsflow remains focused on the Middle East, and the Strait of Hormuz, with the continuing lack of a more…