REBOUND: With the peak summer holiday season well underway the so-called BEACH travel and tourism stocks are doing very well. Our global and European leisure stock baskets of...

FEARS: The developed world’s highest headline inflation. Still rising core inflation. 19% food price rises. 12 central bank rate hikes. And investors aggressively pricing four...

SPIRITS: Equity animal spirits are reawakening after 18 months of hibernation. The S&P 500 is in bull market territory. Market volatility low. Tech stock leadership is...

LEADING: Japan is the best performing major stock market this year, up 23% in US dollar terms, doubling from its pandemic low, and closing in on the all-time-high from 1989 when...

IMPACT: Commodities has been the worst performing asset class this year, after leading up for the prior two years. The 24-member Bloomberg commodities index (DJP) is down near...

GROWTH: US wage growth has been running at multi-decade highs of over 6% since March 2022. It’s been led by the younger, the less qualified, and the lower paid. Leisure and...

OUTLOOK: The US is seeing an increasingly two-speed economy, and inflationary dichotomy. Manufacturing and goods demand is recessionary, pulling down headline and producer price...

STABILIZE: The US dollar has staged a mini rally the past six weeks. Catalyzed by safer haven demand around the US debt ceiling drama. And extended by the outlook for a less...

RATES: The shipping industry moves 90% of global trade, making it a real-time barometer. Both dry bulk and container shipping rates have plunged from their pandemic highs (see...

HOUSING: The US housing market has seen soaring mortgage rates (see chart) and falling home prices. Yet homebuilder stocks have been some of the best stock performers this year....