We are standing in the middle of a regime change in global monetary policy. Neither at the peak of liquidity conditions, nor anywhere...

Contrary to most expectations, the month of May saw a further rally in global interest rates as G7 growth remains sluggish and CPI...

The month of April closed with the reversal of a number of crowded trades. The most consensual of these was the reversal in the U.S....

Generally stronger growth across developed markets and aggressive monetary stimulus has combined to produce a respectable quarter for...

Last month we noted that thirteen central banks had eased their monetary policy since the beginning of the year. In February, the trend...

The first month of the year saw a wave of easing across global central banks as the spectre of deflation has forced the hand of monetary...

The market movements witnessed at the end of 2014 are notable for the fact that they were driven by trends we think will persist well...

Global equity markets have staged a remarkable recovery since bottoming out in October. The broad based gains registered in November were...

Two and a half weeks ago, global equity markets were down some 10% from their yearly highs. This had some market participants asking...

For those who place faith in the seasonality of markets, September did not disappoint with its tendency towards heightened financial...

One of the themes we highlighted at the beginning of the year was the implications of divergent central bank behavior on asset class...

Sometimes, market weakness can be attributed to a fundamental change in the macroeconomic backdrop. In other cases, the selling of risk...

Notwithstanding a series of unforeseen events in the first half of 2014, risk markets continued to march ahead this year with the S&P...

The macroeconomic backdrop appears to be improving as we move into the equity bull market’s fifth year. An improvement in economic data,...

Going into 1Q 2014, there was a great deal of consensus among market participants on positioning and the direction of markets. For us,...

Following a bout of volatility and an emerging market-led sell off at the beginning of the year, major equity indices have returned to...

It did not take long for volatility to return to the market as equity indices in the US, UK, Eurozone and Japan had their worst January...

Markets ended 2013 on a cathartic, yet slightly cautious note. Catharsis came in the form of the Federal Reserve’s December 18...

As we move into the final month of the year, markets are coming to terms with the fact that quantitative easing (QE) will not last...

Financial markets met political risk head-on in the beginning of October as a 16-day U.S. government shutdown culminated in an agreement...