​Last month we questioned the possibility of a continuing bull run in equities in October & Q4: It happily happened! What now?

November 2025 Issue 47

Will the bullish thinking and positioning of investors drive U.S. stocks to dizzy new heights, regardless of macro and geopolitical issues? 

October 2025 Issue 46

U.S. STAGFLATION appears confirmed by the Fed’s Chairman: How well will they actually navigate in this volatile and tumultuous phase?

September 2025 Issue 45

U.S. STAGFLATION : Will this be the new base case? Implications for markets.

August 2025 Issue 44

From April’s despair to June exuberance: Will markets be smoother in H2?

July 2025 Issue 43

Still unsettling times ahead. Range-bound markets.

June 2025 Issue 42

Soft Landing is our base case.

May 2025 Issue 41

Preliminary U.S. Tariff details are out - Our view on what this means for the U.S. and global economies & financial markets.

April 2025 Issue 40

How damaging could Trump 2.0’s disruptive reforms be? - U.S. GDP may suffer!

March 2025 Issue 39

How damaging could Trump 2.0’s domestic structural reforms, together with military and tariff threats, be?

February 2025 Issue 38

How long is "American Exceptionalism" going to last?

January 2025 Issue 37

2024 Highlights and 2025 Outlook

December 2024 Issue 36

We remain tactically bullish on equities but are looking for signs to take profits.

November 2024 Issue 35

The Fed’s easing cycle has started - “Soft-landers” rejoiced, “Hard-landers” still fret. We remain tactically bullish. 

October 2024 Issue 34

Will the Fed’s easing cycle arrive too slowly and too late?

September 2024 Issue 33

Is the U.S. economy on the precipice of a Recession? Markets appear to think so, while we do not agree.

August 2024 Issue 32

Will Risk Assets be as great in the second half as in the first? American electoral uncertainty may be the spoiler.

July 2024 Issue 31

Time to trim expensive growth in favour of cyclicals and interest-sensitive sectors? 

June 2024 Issue 30

Outlook for markets in a higher-for-longer rates environment.

May 2024 Issue 29

What to do for an encore following a great Q1?  Some thoughts for H2, and a peek into the next 5 years. 

April 2024 Issue 28

Is AI the panacea for labour productivity and higher sustainable growth in the US ?

March 2024 Issue 27

How long can investors fight the Fed?

February 2024 Issue 26

Has the December quarter rally been too exuberant?    

January 2024 Issue 25

2024 OUTLOOK - Will investors continue to pour money in equities and bonds in 2024?

December 2023 Issue 24

“Everything Rally” Month - Is the Sustainable Bull Market back ?

December 2023 Issue 23

Fed’s pause and eventual rate cuts in 2024: Realistic expectations?   

November 2023 Issue 22

For how much longer will bond vigilantes box equities in?

October 2023 Issue 21

Second Half : Consolidation phase, or Rally to Continue?

September 2023 Issue 20

Bull market still yes; Sustainable still uncertain.

August 2023 Issue 19

Bull market yes; Sustainable uncertain.

July 2023 Issue 18

Are we in a new sustainable bull equity market?

June 2023 Issue 17

Will the S&P 500 break 4200 and signal a new bull market phase?

May 2023 Issue 16

Will 2023 Shine? So far so good, but...

April 2023 Issue 15

Will 2023 Shine? Probably, but watch the Fed and corporate earnings revision.

March 2023 Issue 14

Will 2023 Shine? January certainly did.

February 2023 Issue 13

A Poor 2022 Ends with a Poor December – Will 2023 Shine?

January 2023 Issue 12

Economic and Investment 2023 Outlook : Selective Opportunities in a Continuing Uncertain Macroeconomic Backdrop

December 2022 Issue 11

The Fed Dilemma continued to cause a Dilemma for Asset Allocators

November 2022 Issue 10

It's still all about the Fed and Inflation concerns

October 2022 Issue 09

September 2022 FOMC Meeting

September 2022 Issue 08 Special Edition

Resolute Confirmation of Tight Monetary Policy

September 2022 Issue 08

Is The July Bounce Sustainable?

August 2022 Issue 07

Mid-Year Check Point - Review & Outlook

July 2022 Issue 06

Will the Bearish Consensus Be Right?

June 2022 Issue 05

Embrace the Summer with a Negroni?

April 2022 Issue 04

A Roller-Coaster First Quarter

March 2022 Issue 03

The Two Big Risks

February 2022 Issue 02 Special Edition

Is January Reflecting the Rest of the Year

January 2022 Issue 02

How Much Market Return Has Been Borrowed From The Future?

November 2021 Issue 01