04/09/2019

Equities have rebounded strongly from 2018’s lows, demonstrating a V-shaped recovery associated with prior corrections. We expect equities to accelerate through the bull market’s final third.       

01/25/2019

2018’s market decline was driven more by fear than fundamentals, a classic characteristic of corrections which typically feature strong V-shaped recoveries. We expect the bull market to resume selling pressure from the end of 2018 to ease and corporate and economic fundamentals remain solid.

10/31/2018

With US midterm elections on the horizon, we expect the bull market to continue as investors begin to appreciate underlying fundamentals and fears of a trade war and Eurozone breakup dissipate.

10/16/2018

Inflation and trade war fears are overblown and we expect the bull market to continue accelerating upward.

6/29/2018

Despite Q1’s pullback, we expect the bull market to continue. The global economy is in full expansion mode while corporate earnings growth remains strong.

1/31/2018

Bull markets typically have steep gains early, flatten out in the middle, and reaccelerate upward I the final third.

12/01/2017

The S&P 500 rose 3.1% in November, bringing year-to-date gains to 20.5%. After 13 straight monthly gains--the second-longest on record--some question whether the streak can continue.

10/09/2017

Europe is early in its credit cycle with positive momentum in economic drivers and underappreciated balance sheet strength, which should allow most European Banks to accelerate credit growth with improved profitability for at least the next few years.

09/04/2017

As the largest economy in Eastern Europe with a strong economic relationship with developed Europe, Poland offers broad exposure to the European market.

11/9/2016

The voters have spoken and Donald Trump will be America’s next President. The Republicans will keep both houses of Congress, losing only a handful of seats. S&P 500 futures plunged in overnight trading, but short-term volatility is normal and US markets have since stabilized, closing the day after elections in positive territory. Markets move most on the gap between reality and expectations. People fear Trump’s campaign pledges, but politicians’ promises rarely become reality.

6/29/2016

The British people have officially voted to leave the European Union (EU). While Scotland, Northern Ireland and London supported remaining in the EU, Wales and the remainder of England overwhelmingly voted to leave. At final tally, 52% voted “Leave” versus 48% “Remain”. This piece breaks down the intricacies of the Brexit decision and analyzes the variables behind the uncertainty clouding the markets.

5/26/2016

In the Q1 2016 earnings season, some department stores reported weaker-than-expected results with news of declining sales and profits. Media was quick to dramatize the reports with cries of a US “retail recession” and assertions that the consumer is tapped out —all bad signs for US growth looking forward. However, in this piece, we would humbly suggest that is incorrect.

5/20/2016

On June 23rd, a public referendum will decide whether the United Kingdom remains in the European Union (EU). Britain’s possible exit from the EU, popularly named “Brexit”, has been the subject of heated debate with a number of high profile supporters on either side. This piece examines the likelihood of Brexit discusses potential implications for equity markets.

3/28/2016

An in-depth analysis that debunks prevailing fears around China’s Debt & GDP growth, US oil industry debt, and the Fed’s balance sheet.

2/18/2016

A summarized analysis that puts EM corporate debt into perspective and reveals the portion denominated in USD.