A Market Driven by Geopolitics and Structural Demand Commodity markets delivered one of the most volatile first halves in years. The US-Israel-Iran conflict, which erupted at the end of February and flaredRead More…
A Value Investor’s Guide to Five Macro Risks Global equities held up during April despite persistent inflation, renewed energy price pressure, and a Federal Reserve that looked increasingly divided. Beneath the surface,Read More…
Global equity markets started 2026 on a generally positive note. However, the gap between market prices and fundamentals has grown considerably. The S&P 500 is trading at about 22.4 times forward earnings,Read More…
2025: A Year That Tested Long-Held Commodity Assumptions Why the most traded commodities are no longer the most economically significant Rather than responding uniformly to global growth, inflation, or monetary policy, commoditiesRead More…
The global economy in 2025 showed modest growth at around 2.8%. However, this growth hid significant regional differences and ongoing risks. Monetary Easing Across Advanced Economies The key story in monetary policyRead More…
Tale of Two Markets: Precious Metals Soar as Agriculture and Energy Lag The first half of 2025 delivered a tale of two markets across the commodity complex, with precious metals and baseRead More…
As we approach the midpoint of 2025, U.S. stock markets remain near all-time highs. Yet beneath the surface, leadership has started to shift, and investors are navigating an increasingly complex environment markedRead More…
Global financial markets have experienced extraordinary volatility in the wake of President Trump’s aggressive trade policies. After initially plunging following the April 2 announcement of universal 10% tariffs and hefty “reciprocal” tariffsRead More…
The U.S. economy and stock markets are facing heightened uncertainty as a mix of inflation concerns, political instability, and recession fears weigh heavily on investor sentiment. While economic indicators present a mixedRead More…
As we progress into 2025, global financial markets continue to be shaped by a mix of optimism, uncertainty, and geopolitical risk. The S&P 500 has maintained its momentum from 2023 and 2024,Read More…