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Week Ahead
Tough week for equities, with the market selling all the recent winners. Netflix disappoints, we’ll see this week if this was company-specific or if there is a malaise in tech earnings. Now neutral on equities and bonds, and long USD. Watch out for US GDP on Thursday and for US PCE Core Price Index on…
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Week Ahead
Unexpectedly high US CPI rocks markets; yields up significantly, and equities down. The first Fed cut might not happen until September, while the ECB might start in June. Now neutral on equities and bonds, long USD, and still look favourably at Japan. The biggest tail risk is inflation staying high(er for longer), forcing Central Banks…
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Rates become increasingly important as the fear of no cuts this year in the US expands quickly; this is unlikely but the first cut might not happen until September. Blowout nonfarm payroll saved the day last Friday and softened the blow of a tough week. Important week with US CPI and PPI (but don’t hold…
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Hawkish Powell postpones easing once again, troubling the markets with his ‘higher for longer’ slogan. Equity continues – slowly but surely – its strong performance YTD. Rate cuts are getting complicated – possibly even July isn’t a done deal yet – but stay strong and trust the US economy and corporate America’s earnings. Keep a…
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Strong equity performance brings the market back from a possible breaking point – rates finally down, and bonds up. Can technology continue to outperform the S&P 500? In the long term I would think so, so stay long. We are 3/4 months away from Central Banks easing – a powerful tailwind. Keep a long position…
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One step forward, two steps back – rates go back higher, equities in a lull, and bonds down. Nasdaq shines on Oracle’s results but then takes a break again – can value take up its leadership? Key week for the central banks as they can reveal further details about when they can start easing, with…
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