The Hunt for Cash Flow: Digging into MLPs
The Alerian MLP Index is up strongly YTD and has broken a multi-year downtrend Value and dividend themes have been relative winners this...
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Callum Thomas
Apr 26, 20221 min read
Chart of the Week - Bond Yields and Inflation
Treasury Yields and the Long-Term Rate of Inflation: A lot of people have gotten excited about the surge in annual inflation rates, but...
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Mike Zaccardi, CFA, CMT
Apr 25, 20222 min read
The Ups and Downs of Inflation Expectations
Breakevens soar to new highs as the bond market rout continues Inflation for longer was the theme last week with the 5y5y swap shooting...
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Callum Thomas
Apr 23, 20222 min read
Weekly Macro Themes - 22 April 2022
Here's a brief overview of the topics and charts covered in the latest edition of the Weekly Macro Themes report. I send this report out...
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Mike Zaccardi, CFA, CMT
Apr 21, 20222 min read
Gold Climbs Despite Macro Headwinds
A multi-year high in the US Dollar seems to be no problem for the price of gold Rising real yields, typically a bearish macro driver,...
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Callum Thomas
Apr 19, 20221 min read
Chart of the Week - Gold Miners vs Energy Producers
Gold Miners Left Behind: This curious chart shows the total assets under management in US equity sector ETFs focused on energy (i.e....
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Mike Zaccardi, CFA, CMT
Apr 14, 20222 min read
Bond Fund Flow Capitulation
Global bond yields breakout to fresh 7-year highs as market participants expect upwards of 250bps of Fed rate hikes in 2022 US fixed...
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![The 12 Charts to Watch in 2022 [Q2 Update]](https://static.wixstatic.com/media/542496_72b35aefa431442897ff2c8118c675c4~mv2.png/v1/fill/w_791,h_594,fp_0.50_0.50,q_95,enc_auto/542496_72b35aefa431442897ff2c8118c675c4~mv2.png)
Callum Thomas
Apr 13, 20229 min read
The 12 Charts to Watch in 2022 [Q2 Update]
Welcome to Q2! What a crazy quarter we just lived through (but then again, that could be an evergreen statement for the 2020's!). In...
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Callum Thomas
Apr 12, 20221 min read
Chart of the Week - The “SCANNZ Economies“
Pondering the Probability of Echo-Crises: The SCANNZ economies (Sweden, Canada, Australia, Norway, New Zealand) share an interesting set...
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Mike Zaccardi, CFA, CMT
Apr 11, 20223 min read
Mortgage Rates Soar: Recession Risks Ahead
Mortgage News Daily reported that the average 30-year mortgage topped 5% late last week (almost double the rates on offer back in...
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Callum Thomas
Apr 11, 20222 min read
Market Cycle Guidebook - March 2022
We just published the latest "Market Cycle Guidebook", which is one of the main reports in our institutional investment research service....
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Callum Thomas
Apr 10, 20222 min read
Weekly Macro Themes - 8 April 2022
Here's a brief overview of the topics and charts covered in the latest edition of the Weekly Macro Themes report. I send this report out...
139 views0 comments
Mike Zaccardi, CFA, CMT
Apr 6, 20223 min read
What are Spreads Saying?
US investment grade and high yield spreads jumped earlier this year, but then retreated in late March (albeit within an uptrend). Recent...
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Callum Thomas
Apr 6, 20221 min read
Chart of the Week - Global Policy Pivot
Monetary Policy from Tailwind to Headwind: Last year I counted 123 rate hikes across 41 central banks… meanwhile already so far this...
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Mike Zaccardi, CFA, CMT
Apr 4, 20223 min read
Global Policy Tightening: Headwinds Rising
The second quarter will undoubtedly feature an acceleration in the trend of higher central bank policy rates The US Federal Reserve will...
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Callum Thomas
Apr 2, 20222 min read
Quarterly Strategy Pack - Q2 2022
The Q2 edition of our Quarterly Strategy Pack was just sent to clients The slide pack covers the key themes/charts on the outlook for...
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Mike Zaccardi, CFA, CMT
Mar 30, 20222 min read
Value vs Growth Rally Stalls, Where-to Next...
US growth stocks have rallied big off the mid-month low while value has underperformed: un-rotating some of the previous rotation. Is...
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Callum Thomas
Mar 29, 20221 min read
Chart of the Week - Vertiginous Valuations
Valuation Cohorts — The Upper Reaches of Expensiveness: This chart presents the price to book ratio picture across the...
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Mike Zaccardi, CFA, CMT
Mar 28, 20223 min read
Figuring Out Frontier Market Equities
A global agricultural commodity crisis could trigger trouble for smaller/developing frontier nations (but) The MSCI Frontier Index is...
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Callum Thomas
Mar 26, 20222 min read
Weekly Macro Themes - 25 March 2022
Here's a brief overview of the topics and charts covered in the latest edition of the Weekly Macro Themes report. I send this report out...
293 views0 comments
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