The Second Trump Administration stands up-front and central to any market forecast this year. It is not an add-on to any existing macro picture or cycle. It is hard not to predict the future without looking through a mirror that reflects everything you like or hate about the Ma... Read More
IN the short term the Fed and the ECB will cut policy rates by 25 bp - no jumbo cuts, Over the easing cycle the ECB will have to cut policy rates more and for longer than the Fed. The EU is entering a period of secular economic decay. The Draghi report speaks not just to the US... Read More
The Draghi Report - All the right ideas. But unlikely to be implemented. The reasons: populism and the fear of it. Or in the case of Germany, incompetent governance. No market impact Read More
There are three political things that don’t matter to markets now but will. Read More
This Strategy Report is from the Archive, and is presented in its original format. Tags have been generated by AI. If you notice any inconsistencies, please get in touch. Read More
This Strategy Report is from the Archive, and is presented in its original format. Tags have been generated by AI. If you notice any inconsistencies, please get in touch. Read More
This Strategy Report is from the Archive, and is presented in its original format. Tags have been generated by AI. If you notice any inconsistencies, please get in touch. Read More