Steering through the fog of policy uncertainty
I just got back from the ABA Wealth Management conference in sunny San Diego. There, Strategas’ Dan Clifton and I talked about President Trump’s actions, their market impacts and how we, as professional investment managers, would translate these developments into portfolio adjustments for the post-election landscape. The opening days of the second Trump administration have, […]
A week is a long time in (geo)politics
market snapshot
Trump tariffs threaten European stock rally
market snapshot
Trump, again
With the second Trump administration now a month old (not a short month!), I’m devoting this special issue to the new president’s plan of action and the implications for the markets. History For analogy to the present day, one must look to the nineteenth century. Trump’s House majority is the smallest since the Civil War, […]
European stocks soar on Ukraine peace hopes
Market snapshot
The Year of the Snake: Our outlook for China in 2025
What’s next for Chinese markets? As we mark the start of the Chinese Lunar New Year, and the Year of the Snake, investors are asking: what is next for Chinese equities? Donald Trump’s victory in the US presidential election was initially taken as positive news for US markets and negative for China; the MSCI China […]
China’s ‘Sputnik moment’
On 4 October, 1957, the Soviet Union successfully launched Sputnik 1, the world’s first artificial satellite. The launch ushered in a new era of political, military, technological, and scientific developments, and started the US-USSR space race. On 20 January, Chinese technology start-up DeepSeek released two large language models (LLM), including DeepSeek-R1, a partly open-source large […]
We can live with this
The S&P 500 has been sideways for a while now, something often seen in the weeks after a presidential inauguration; only half of the names in the index currently trade above their 50-day moving average. For the market to exit this period of consolidation with any bullish conviction, that fraction will need to increase. The market […]
Chinese tech stocks rally on AI hopes
market snapshot
All about tariffs
market snapshot
