For institutional investors with a very long term time horizon, inflation lurks like a sometimes unwelcome guest at the table where asset allocation decisions are made and strategies set. It is an implicit (or sometimes explicit) bogey when setting an expected rate...
If a picture is worth a thousand words, perhaps this is the picture to capture what February felt like. And early indications are that March might set us up for more of the same. The month started in a chaos of adjustments – to the potential absence of a...
February has been a bit of a gut punch for markets triggered by strong payroll data in the US, which started a spiral of worry – worry about the economy overheating, worry about rising inflation, worry about rising bond yields (the 10 year today topped 2.9%) and...
Inflation has been slowly inching up in the US for months, and finally crossed the 2% threshold in September 2017. While commodities have driven part of this – oil rose by between 12 and 14% in 2017, wages were a laggard. The wage outlook is however,...
Words matter. No sooner had Steve Mnuchin, US Treasury Secretary, uttered the words (at Davos this week) “a weaker dollar is good for us as it relates to trade and opportunities” then the US dollar started to slide leaving it -2.6% against a basket of other...
