Following yesterday's FOMC meeting, we expect the US yield curve to continue to flatten into the new year driven by high inflation and the overall tightening of USD liquidity. To contribute to higher interest rates in December might also be the debt ceiling suspension that would allow the Treasury to...

The market got what it expected from the FOMC meeting yesterday, as the Fed is set to taper asset purchases at the expected pace, with some flexibility on a shift in the pace in the likely event that the overheating US economy requires that they second guess the ponderous move...

Today we look at the market getting what it wanted from the FOMC, as the Fed delivered the expected pace of QE purchase tapering, even if it reserved the right to shift the pace at future meetings if warranted. Our belief is that it will prove more than warranted and...

The Fed will initiate a tapering of asset purchases later this month at the expected pace of $15B per month, but with flexibility on the pace of reductions in the forward guidance. The market took the news in stride as yields were little changed relative to recent ranges, while equity...

Crude oil is increasingly showing signs of having entered a period of consolidation after rallying by one-third since August. In this update we highlight some of the reason behind the recent weakness, most of which we believe to have a temporary impact, and not strong enough to prevent even higher...

Investors are not delighted about earnings today from Vestas and Orsted, the two giants in the green transformation, showing that delivering on COP26 will not happen without headwinds.At the COP26 meeting the political class and industry talk about goals for the future to limit the impact from climate change, but...

Today we look at the long term implications of Republicans winning the Virginia governor race in the US, perspectives on the US bond market after the under-appreciated trauma globally in the short end of yield curves nearly everywhere and whether a bit more calm post-FOMC tonight in rate expectations might...

US and European equity markets continue to show broad strength, with this week producing strong gains for European indices in particular, while Asia ex Japan is in a rather different place with a weak session overnight as China concerns weigh. Today brings an FOMC meeting at which the Fed is...

Following on from the recent surge in fuel and gas prices, another and equally worrying rally is currently taking place across some of the world's key food staples, most notably wheat where the price of high protein milling wheat in Paris has reached record levels. The rally has been driven...

Three companies have been added to our Crypto & Blockchain equity theme basket extending the basket to 26 companies covering the industry across many different activities.One of our smallest equity baskets has been our Crypto & Blockchain basket but as companies within the industry have IPO’ed we have added those...