UPSIDE RISK: US and allies have dramatic plans to sell oil from their emergency ‘strategic petroleum reserves’ (SPR) to contain $100+ oil prices. The US is targeting sales of 1.0m...

FOCUS: Markets are nervous and repricing the electoral odds in a tightening (see chart) French presidential election that goes to 1st round polls on Sunday. The stock market has...

A LOW BAR: Global first quarter earnings season unofficially starts next Wednesday, April 13, with JPM leading US bank reports. Consensus has set a low bar for S&P 500,...

TOUGH Q1: There were few places to hide in Q1, with commodities the only asset class in the green. Nevertheless, equities and crypto have seen a sharp rebound out of ‘correction’...

Last Week’s Top Five Market Winners Nasdaq Stock Market (NASDAQ) The past week included significant gains for Clovis Oncology Inc. (CLVS), Grid Dynamics Holdings Inc. (GDYN),...

Last Week’s Top Five Market Winners Nasdaq Stock Market (NASDAQ) The past week included significant gains for Corbus Pharmaceuticals Holdings Inc. (CRBP), Sundial Growers Inc....

WILDERNESS: LatAm spent a decade in the investment wilderness (see chart), shrinking to only 8% of emerging markets and under 1% of global equities. But it is by far the world’s...

BOND TANTRUM: The US 10-year bond yield, which helps price everything from mortgage rates to company bond issues, has soared to 2.4% given the more hawkish Fed rhetoric. This is...

Commodities on tear. The CRB commodity index is up 52%¹ in the past year (March 2021-March 2022). This makes physical commodities the best performing of all asset classes over...

MORE DISRUPTION: Ukraine crisis commodity supply fears and China covid lockdowns are rekindling supply chain chaos. 50% of neon for semiconductors come from Ukraine. China tech...