New Dollar well-priced as macro differences rise

by Ben Laidler
The Dollar has been the big winner from recent US macro exceptionalism, with Sterling not far behind, and the Yen the big laggard again. This US outperformance is now better priced but global macro divergence just be getting started, from the NZD to CHF and EUR.
Read more

New NVIDIA versus market bubbles and CISCO

by Ben Laidler
Expectations are high for NVIDIA ahead of Wednesday's results, and for the S&P 500, with big tech concentration near records. But only one of three 'bubble' indicators are in place, and its still only 1/3 the valuation of dot-com peer CISCO.
Read more

New Analyst Weekly: US and UK elections playbook

by Ben Laidler
With elections looming later this year we see reassuring parallels from Trump’ surprise victory in 2016 and the UK’s Labour’s party landslide win in 1997, when markets did well despite policy differences.
Read more

New Still cautious sentiment drives buy-the-dip

by Ben Laidler
Our investor sentiment index is still only neutral, a contrarian technical support to stocks alongside better-than-expected earnings growth. This is a driver of buy-the-dip market support despite rising interest rate and valuation headwinds.
Read more
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New Dollar well-priced as macro differences rise

by Ben Laidler
The Dollar has been the big winner from recent US macro exceptionalism, with Sterling not far behind, and the Yen the big laggard again. This US outperformance is now better priced but global macro divergence just be getting started, from the NZD to CHF and EUR.
Read more

New NVIDIA versus market bubbles and CISCO

by Ben Laidler
Expectations are high for NVIDIA ahead of Wednesday's results, and for the S&P 500, with big tech concentration near records. But only one of three 'bubble' indicators are in place, and its still only 1/3 the valuation of dot-com peer CISCO.
Read more

New Analyst Weekly: US and UK elections playbook

by Ben Laidler
With elections looming later this year we see reassuring parallels from Trump’ surprise victory in 2016 and the UK’s Labour’s party landslide win in 1997, when markets did well despite policy differences.
Read more

New Still cautious sentiment drives buy-the-dip

by Ben Laidler
Our investor sentiment index is still only neutral, a contrarian technical support to stocks alongside better-than-expected earnings growth. This is a driver of buy-the-dip market support despite rising interest rate and valuation headwinds.
Read more

New Europe’s carbon price perfect storm

by Ben Laidler
The ETS price has plunged on lower demand, from the continents industrial recession to lower natgas prices, and demand, on stepped up permit sales. Yet, many overhangs are cyclical, and a regulatory squeeze on supply-demand is coming.
Read more