Category: Newsletter

Dear investors and followers, The relief rally from Trump’s apparent semi back-tracking on the tarriffs issue continued and drove up equities. The key question, however, is still whether the de facto embargo between US and China ends this month, and to which extent sectorial tariffs will hit equity markets on Wednesday when announced. The USD…

After another solid week for our strategy, we are looking ahead to a range of key U.S. data releases that will showcase how the current supply shock shares similarities with the early stages of the pandemic. The U.S. goods balance reached new all-time lows in March due to tariff frontrunning, and inventories of finished goods…

We’ve lost a tad of ground over the past week but remain firmly up more than 3% year-to-date, despite the incredible turbulence we’ve seen this year. The recent setback in market confidence around US Treasuries temporarily impacted our return profile. Nevertheless, we continue to align with the prevailing macro trends in inflation and growth. Inflation…

  The market has entered panic mode, but we have maintained a steady hand amid the turbulence triggered by Trump’s outrageous tariff plans. Our ability to track the economy in real-time has once again helped us avoid the drawdown. We’re now observing similarly weak growth patterns across the globe, making it difficult to find safe…

Dear all, Markets remained uneasy last week primarily due to heightened nervousness about upcoming tariffs and the potential fallout for global trade. Adding to the uncertainty, softer-than-expected Eurozone data suggested a more cautious stance from policymakers, while weaker US consumer sentiment served as a reminder that ongoing trade frictions may weigh on domestic growth. Against…

Dear all, Despite a fairly benign presser from Powell Wednesday, the continuation of sour risk sentiment and weak economic data has made it difficult to make money in equities, crypto and the likes, while fixed income has been one of the few places to hide together with copper and gold as tariff hedges have come…

REMEMBER OUR LIVE Q&A ON WEDNESDAY  – BOOK IN YOUR CALENDAR BY CLICKING HERE!   Dear all,   We are entering a groundbreaking period with critical negotiations unfolding simultaneously around Ukraine, Yemen, and Gaza. Donald Trump’s geopolitical team is now facing a major test as the Middle East truce unravels, while Iran continues to challenge…

Dear all, It has been a couple of incredibly challenging weeks for US assets, but our nowcasting techniques have thankfully kept us on the right side of developments. We have been short USD and positioned for lower USD bond yields, while our equity exposure has been limited to a few European bets. As a result,…

Dear all, Last week was another solid performance for our macro strategy as we successfully navigated a tariff-fueled market environment. We found “shelter” in our strategy, favoring precious metals, JPY, and other macro momentum bets in response to incoming tariffs. The reciprocal tariffs expected this week will be important to monitor in our nowcasts. For…