Insights

The Fed is on hold for now, but its 2026 economic projections are far too optimistic. The Fed will ease more next year than it currently anticipates. ...

We are constructive on equities in 2026, as monetary easing, fiscal support, GenAI-related capex, and strong earnings growth are unequivocally positive for the asset class. Valuations are extended, but concerns about a bubble are overstated. Despite the favorable backdrop, we expect the S&P 500 ...

We had a good year in 2025. For two years now, we have been unabashedly bullish, proving that the GeoMacro framework works....

Institutional investors continue to avoid US Real Estate, but fundamentals and valuations are aligned for a compelling multi-year entry point. As one of our highest conviction overweights, we remain bullish on Office, Industrial, and Retail – Multifamily still doesn’t make the cut....

We present our five key views for global fixed income markets in 2026. A year that will see the global easing cycle come to an end....

Washington’s new strategy sheds liberal idealism for hard-edged multipolar realism: spheres of influence accepted, allies chided, Asia red lines firm, Latin America elevated, and AI-plus-digital assets crowned as national-security sinews. The result is a world steadied by US offshore balancing – an ...

Our 2026 Outlook presents our five key views for Europe’s macro landscape and markets in 2026 —a year poised to reveal the true strength of the recovery....

September’s weak consumer spending data challenge the K-shaped recovery narrative and suggest that spending will slow to match already-weak employment growth....

The US High Quality portfolio outperformed its benchmark through November, returning 1.13%, whilst its SPY benchmark returned 0.08%. Our US High Quality SMID portfolio experienced a decline in performance this month. The portfolio returned -2.27%, underperforming its MSCI US Small and Mid Cap benchm...

We got Trump's tariff shock and backtracking correct and predicted Israel's attack on Iran. But we missed the China rally — and there is still no Ukraine ceasefire....