Alternative Investments… Investor Strategies for Oil & Gas Amid Changing Market Conditions 10 Sep 2025September 10, 2025 As of today, September 10, 2025, Brent trades around $66–67/bbl and WTI near $63/bbl, modestly lifted by geopolitical risks but still range-bound. Market consensus sees slower demand growth alongside rising…
Alternative Investments… Macro Views and Implications for Private Markets 3 Sep 2025September 3, 2025 Trade Deals Bring More Clarity to 2H25 Macro View I: Trade deal momentum has improved. The US now has a growing share of trade covered by deals, although tariff levels…
Alternative Investments… Private Markets Insight: Private Credit vs. Private Equity 29 Aug 2025August 29, 2025 Private Markets Update Private Credit Banks are playing a smaller role in credit provision due to regulatory constraints and capital requirements. Private credit has stepped in to fill this gap,…
Alternative Investments… Key Differences in Economic Trends: 2021-2025 vs 1970s 31 Jul 2025July 31, 2025 Long-Horizon Return Series: GFD, CRSP, Shiller, Bridgewater Global Financial Data (GFD) provides some of the most extensive datasets available, including fixed-income, equity, inflation, and macroeconomic data that date back centuries,…
Alternative Investments… Innovations Driving the Private Credit Landscape 13 Jan 2025January 13, 2025 The global private credit market is experiencing significant expansion and transformation, creating new investment opportunities while also posing regulatory and risk management challenges that stakeholders must carefully navigate. As of…
Capital Market… Perspective on the Situation in the Middle East and Investment Implications 9 Oct 2023September 19, 2024 The situation between Israel and the Palestinian territories, particularly the Gaza Strip governed by Hamas, is one of the most protracted and contentious conflicts in the world. The recent escalations,…
Asset Allocation… Fixed-Income Strategy: Implications from Recent Events 16 Aug 2023September 19, 2024 In the US, rates markets continue to take center stage with the Treasury curve bear steepening in recent weeks. Yields on the 10-year and 30-year Treasuries reached new year-to-date highs…
Capital Market… Investment Outlook Third Quarter 2023 25 Jul 2023September 19, 2024 The S&P 500 had a strong performance in the first half of 2023, gaining more than 6% in June and nearly 16% heading into the third quarter. Despite potential vulnerabilities,…
Market Commentary US Purchasing Power, Inflation and Unemployment 11 Oct 2022June 28, 2024 US consumers powered the recovery following the pandemic but high gasoline and energy prices and food and housing costs have eroded their purchasing power. Real consumption spending accelerated to 7.9%…
Commodities… Uncertainty Clouds the Outlook 24 Mar 2022September 18, 2024 An anti-goldilocks economy refers to the global economy where policymakers are confronted with a stagflationary supply shock, which is negative for growth and will tend to push up inflation further.…
Asset Allocation… Market Recap Monday, December 24, 2018 24 Dec 2018November 5, 2024 On global equities Volatility in global equity markets persisted in November, fears of rising interest rates, multiple trade conflicts, the end of QE, and related uncertainty about the global economic…
Global Macro… Market Recap Friday, October 13, 2017 15 Oct 2017 In Brief U.S.: PPI ticking higher and inflation not dead; small business confidence peaking with D.C. risk; jobless claims still low Eurozone: Another good month for Eurozone sentiment; structural reform…
Market Commentary… Market Recap Friday, October 6, 2017 6 Oct 2017 In Brief U.S.: Economic activity in both manufacturing sector and non-manufacturing sector continued to expand in September 2017; light vehicle sales in September realized the first gain of the year;…
Market Commentary… Market Recap Friday, September 29, 2017 29 Sep 2017 In Brief U.S.: Trump gives a new “red line” for his 20% corporate tax rate; tax reform framework; consumer confidence index fell to 119.8 while data skewed by hurricanes Europe:…
Market Commentary… Market Recap Friday, September 22, 2017 22 Sep 2017 In Brief U.S.: FOMC meeting September 20: Fed is leaving short-term interest rates unchanged, but December Fed hike possible; QE unwind, fiscal progress? Eurozone: Eurozone upturn regains momentum in September;…
Market Commentary… Market Recap Friday, September 15, 2017 15 Sep 2017September 16, 2017 In Brief U.S.: August NFIB small business confidence index up 0.1 month on month to 105.3; CPI surprises to the upside in August; inflation expectations continue to rise Eurozone: Earlier…
Market Commentary… Market Recap Friday, September 8, 2017 8 Sep 2017 In Brief U.S.: ISM PMI up 2.5% to 58.8; ISM NMI up 1.4% to 55.3; job growth has started to slow, typical in 2H of a business cycle Euro zone:…
Market Commentary… Market Recap Friday, September 1, 2017 1 Sep 2017September 1, 2017 In Brief U.S.: Hurricane Harvey hit insurance stocks and auto giants; U.S. nonfarm payrolls preview Euro: The euro hit a multi-year high after Draghi did not comment on the currency…
Market Commentary… Market Recap Friday, August 25, 2017 26 Aug 2017 In Brief U.S.: PMI pop in August 2017 amid milder trend; dollar index clocks 15-month low EU: ZEW sentiment fading; sentiment also easing elsewhere in Europe; euro appreciation is a…
Market Commentary… Market Recap Friday, August 18, 2017 18 Aug 2017August 19, 2017 In Brief U.S.: Home builder sentiment climbed in August 2017 and consumers still likely pent up demand for housing; 10-year breakeven inflation rate rose in July for the first time…
Market Commentary… Market Recap Friday, August 11, 2017 11 Aug 2017August 13, 2017 In Brief U.S.: Producer prices recorded the biggest drop in 11 months; productivity rose 0.9% in 2Q17, consistent with the climb in the JOLTS Quits Eurozone: Soft and hard data…
Market Commentary… Market Recap Friday, August 4, 2017 4 Aug 2017August 4, 2017 In Brief U.S.: 10-year yield slips to lowest in a month; The DJIA closed above 22,000 for the first time; U.S. companies post profit growth not seen in six years;…
Market Commentary… Market Recap Friday, July 28, 2017 28 Jul 2017July 28, 2017 In Brief U.S.: Consumer confidence steadfast ahead of political turmoil; U.S. dollar weakened notably Eurozone: “Euphoric” soft data points and growth spurt loses momentum for second month running Germany: The…
Market Commentary… Market Recap Friday, July 21, 2017 21 Jul 2017 In Brief Europe: Encouraging data now; ECB studying tapering U.S.: Inflation down; housing permits back up China: New data released; PBOC to coordinate work of new financial oversight body U.K.:…
Market Commentary… Market Recap Friday, July 7, 2017 7 Jul 2017July 7, 2017 In Brief U.S. growth continues to hum along at a moderate pace More hard evidence of European economic expansion Capacity, labor, and price pressures accruing in Japan In China government…
Market Commentary… Market Recap Friday, June 30, 2017 30 Jun 2017July 1, 2017 In Brief Momentum equity style factor is outperforming, backed by a sustained economic expansion. Oil prices entered a bear market on concerns about higher-than-anticipated global supply. Baa spreads hit fresh…
Market Commentary… Market Recap Friday, June 23 23 Jun 2017 In Brief Investing with a long-time horizon and through a diversified portfolio are the best ways to batten down the hatches against volatility and avoid emotional investing errors. How should…
Market Commentary… Market Recap Wednesday, June 14 14 Jun 2017 In Brief A rebound in U.S. economic data strengthened the Fed’s case for a rate hike in June; the Fed outlined a plan to reduce the balance sheet. European growth…
Market Commentary… Market Recap Friday, June 9, 2017 10 Jun 2017October 8, 2017 On U.S. U.S. jobless claims declined 10,000 week over week to 245,000. With U.S. credit-scoring easing, and the credit damage from the U.S. downturn passing, U.S. consumption remains strong. Nowadays,…
Market Commentary… Market Recap Friday, May 19 19 May 2017May 19, 2017 On Oil: Prices Jump to Three-Week High on Talk of Extending Production Cuts Oil prices jumped to a three-week high on May 15. U.S. crude futures rose to $48.85 a…