
Asset Allocation Update: Turning Overweight Commodities and Neutral Equities
Bilal Hafeez
2023 has started with a positive tone. Most risk markets from equities to crypto are up, and we identify four driving themes:
Bilal Hafeez
2023 has started with a positive tone. Most risk markets from equities to crypto are up, and we identify four driving themes:
John Tierney
Corporate bonds spreads will widen significantly if, as we anticipate, persistent inflation leads to higher rates and a recession later this year.
Richard Jones
The concept of the business cycle has always fascinated me. And I have always thought understanding it is important for improving investment and trading decisions.
Bilal Hafeez
Marion is a senior economist at Deutsche Bank in London and a lecturer at Harvard University. She has extensive private sector, public policy, and monetary policy experience...
Bilal Hafeez
Ray is the Chief Investment Officer of Fixed Income at Pictet Asset Management. He joined Pictet in 2010 as Head of Total Return Fixed Income, before becoming CIO in 2017 and an Equity Partner in 2018.
Bilal Hafeez
Dan Zwirn is the Co-Founder, CEO, and CIO of Arena Investors LP. Arena is a $3.4 billion global investment firm focusing on special situations asset and credit investments in corporates, real estate, structured finance, and corporate securities.
Bilal Hafeez
Andy Constan has spent the past 33 years investing and trading global markets. He’s worked at leading hedge funds Bridgewater Associates and Brevan Howard as Chief Strategist.
Bilal Hafeez
Alfonso Peccatiello (Alf) is the author of The Macro Compass, a financial newsletter providing educational macroeconomic insights &...
Bilal Hafeez
In this report, we standardise price changes across different markets to allow for cross-market comparisons. US 2-year yields saw a...
Bilal Hafeez
US bond yields saw a 3+ standard-deviation jump last week, while tech stocks got smashed with NASDAQ seeing a 1.9 standard deviation...
Bilal Hafeez
Last week saw big positive moves. Apply share prices saw a 3+ standard-deviation weekly jump. The overall S&P500, US high yield credit...
John Tierney
Another year, another Congress, another debt ceiling crisis. Usually, these things get resolved after tense negotiations and...
Sam van de Schootbrugge
A review of the financial crisis literature finds crises characterised by excessive household debt have significantly worse medium-term...
John Tierney
To capture interest income or carry in a low-yield environment, we favour high-yield corporate bonds. We can get exposure to the broad...
Sam van de Schootbrugge
A raft of prudential regulations sprung up to protect financial stability in the aftermath of the 2008 Global Financial Crisis. Yet at the onset...
John Tierney
Investment-grade and high-yield credit spreads are on the cusp of post-GFC tights. Many worry that rising inflation will push...
John Tierney
Amid the volatility and uncertainty sparked by a jump in the 10-year Treasury yield, equities and corporate credit markets hit...
John Tierney
Credit spreads continued to grind tighter in the past month. Investment grade (IG) tightened 6bp to 99bp, and high yield (HY) moved 15bp...
John Tierney
The corporate bond market pretty much followed equities in 2020. Spreads gapped out to solid recession levels when the coronavirus...
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