A Hitchhiker’s Guide to Tariffs

A Hitchhiker’s Guide to Tariffs

Introduction “Don’t panic.” Investors have now lived through several weeks of heightened market volatility, driven primarily by a combination of disappointing economic data and erratic policymaking. As we’ll point out in this piece, the amount of market churn –...
Bruised

Bruised

I swear I didn’t mean for it to feel like this Like every inch of me is bruised, bruised “Bruised”, Jack’s Mannequin Jack’s Mannequin’s debut album Everything in Transit was released 20 years ago (this author vividly remembers finding much-anticipated leaked...
Light My Fire: Non-US Stocks Heating Up

Light My Fire: Non-US Stocks Heating Up

The time to hesitate is throughNo time to wallow in the mire “Light My Fire”, The Doors One of our constant refrains is that valuation is not a catalyst, but it is the fuel that can amplify moves to the upside or downside. Think of catalysts (a change in policy,...
Heartbreaker

Heartbreaker

“Burnin’ out of control…” – Inflation Data Sets a New Tone for Bond Markets It’s never fun to write about disappointment on Valentine’s Day, but Pat Benatar would agree that this week’s inflation data was more “love taker” than “dream maker”. The January U.S. Consumer...
Surprise Surprise

Surprise Surprise

Surprise, surprise, the unexpected hits you between the eyesThe unpredictable, that’s the surprise you see, surprise! surprise! “Surprise Surprise”, Cilia Black Surprise Surprise, with Cilia Black as its host and singer of its theme song (which has recently...
With or Without You

With or Without You

“See the Stone Set in Your Eyes…” Last week began with a bang as an apparent Artificial Intelligence (AI) breakthrough out of China called into question the narrative driving much of the recent U.S. equity market moves. By Friday morning, however, monetary policy,...