Insights

Winners vs Losers from Higher Real Rates

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1. Japan- End of an Era
2. US Industrials- Outperformance due a pause
3. XLP vs. XLY - which consumer bet does macro favour?
4. The Jamie Dimon trade

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EEM’s outperformance:
Finally more than just a story on the dollar & commodities?

US Homebuilders - TOL

We are now back in the "worry window"

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1. From Tariff Capitulation to Good News is Good News
2. US Dollar- the Importance of being Tactical
3. Bond market tug-of-war
4. Brazilian Equities Near Term Stretched

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After Tariff Capitulation, Economic Data Now Front & Centre

If Happiness = Outcome – Expectations
..then equities are in a better mood

Dissecting the Trade War Impact:
US Auto Case Study

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1. Stocks discounting further tightening in US HY Credit?
2. EFA - The easy vol reset has ben done
3. USD-Asia On the move I
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Real Rates Still Matter - A lot for the S&P490

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TEST VIDEO
The Biggest Driver Behind Equity Returns?

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