Groundhog day as core inflation in the US surprises on the upside again

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US CPI: Groundhog day as core inflation surprises on the upside again At the start of the year the bond market was anticipating something close to 175 basis points (bps)

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12 Apr 2024

The Fed and March US non-farm payrolls report and the ECB’s end to the tightening cycle

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  “Give me a one-handed economist. All my economists say “on the one hand…, but then on the other…”   Harry Truman (US President 1945-53) Where is the Fed coming into

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08 Apr 2024

GSFM partners with Eastspring Investments to distribute emerging markets strategy in Australia

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GSFM has partnered with Eastspring Investments to distribute its Global Emerging Markets (GEM) Dynamic Strategy in the Australian market. Eastspring’s GEM Dynamic Strategy will be available to institutional, wholesale and

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05 Apr 2024

On the other hand

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“Give me a one-handed Economist. All my economists say ‘on the one hand…’, then ‘but on the other…” – Harry Truman (US President 1945-52) Despite a plethora of central bank

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25 Mar 2024

RBA: the narrow path resembles a tightrope; a “verbal pivot” in the offing? The Fed: Déjà vu all over again?!

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The Fed: Déjà vu all over again?! Yogi Berra was a US baseball coach renowned for his mangling of expression. He is most famous for coining the phrase “déjà vu

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19 Mar 2024

Long/short investing

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Investors and advisers alike are well accustomed to ‘long-only’ investing, while short selling is often perceived negatively. However, long/short equity strategies can often deliver better returns and lower volatility for

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12 Mar 2024

Central Banks: Are we there yet?

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The week just passed was meant to be one where markets obtained a clearer insight into when central banks, including the Federal Reserve (the Fed), the European Central Bank (ECB)

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11 Mar 2024

Soft landing still a central case…but a lot can go wrong. (Or will the Bears catch “goldilocks”?)

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RBA: monetary policy bias swinging to neutral, but still some distance to any imperative for a policy rate cut Yesterday’s release of the January Monthly consumer price index (CPI) indicator

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01 Mar 2024

The investment case for private credit remains strong

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Private credit offers investors an attractive opportunity to benefit from regular income, strong investor protections and low volatility, irrespective of the economic conditions that prevail during 2024. This article from

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20 Feb 2024

US January consumer price index. Not there yet. Not even close?

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January’s US consumer price index (CPI) is a reminder that the challenges around the “last mile” in returning inflation to target are daunting. I suspect that the Federal Reserve (Fed)

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15 Feb 2024