News and Analysis

INFLATION: Thursday’s US inflation report is the next big test for nervous markets and the data dependent Fed. Headline inflation peaked at 9.1% in June but the decline’s been...

Summary Room for another ‘less bad’ earnings season Another crucial earnings season as recession fears mount. We see some relief, with forecasts too low. JP Morgan kicks of...

MISSING LINK: The US jobs market, and leading indicators like the JOLTS report, are the last big inflation drivers needed to turn lower. This would give markets hope we are within...

MESSAGES: Commodity markets have been on a roller-coaster ride all this year. The broad Bloomberg commodity index fell 15% from its June high. But it is still by far the best...

DIVERGENCE: Many ‘work-from-home’ (WFH) pandemic stock beneficiaries, from Zoom (ZM) to Twilio (TWLO), have cratered under the pressure of the post-pandemic return-to-work trend...

NOWHERE TO HIDE: Only the US dollar and bitcoin rose last quarter, of major assets. This continued sell off in both bonds and equities, the two biggest and most traded liquid...

Summary Roadmap for a pivotal fourth quarter Were few places to hide in a bad Q3 for global markets. The big fourth quarter question is will the US Fed ‘blink’, signalling a...

Uniswap and Quant lead altcoin market with double-digit gains As global currencies including the British pound tumbled amidst global market mayhem last week, Bitcoin climbed back...

PORT IN STORM: Equities of the most economically sensitive US sectors, from financials to consumer discretionary, have lagged traditional defensives, like healthcare and staples,...

FEARS: Market uncertainty is running high, but just how much? Geopolitical fears have eased from the spike around Russia’s Ukraine invasion (see chart). But been replaced by...