Copper markets are fast approaching a price breakout, as Chinese smelters scramble to find ore to meet increasing refined-copper demand in the wake of a global manufacturing rebound. We are holding fast to our expectation of $4.50/lb (COMEX) this year. We remain long the XME ETF to retain exposure t...
Colombia has fallen from grace in terms of its healthy macroeconomic fundamentals, business-friendly government policies, and conservative fiscal stances. The economy is experiencing stagflation, public finances are deteriorating rapidly, and political uncertainty will persist. Underweight Colombia ...
The analysis of complexity is a massive competitive advantage in investing, and from today, clients will be able to monitor the complexities of the world’s 17 major investments on our webpage in real-time....
The analysis of complexity is a massive competitive advantage in investing, and from today, clients will be able to monitor the complexities of the world’s 17 major investments on our webpage in real-time....
Due to funding constraints, China’s infrastructure investment nominal growth rate will likely slow from 9% in 2023 to about 6% this year. The new issuance of Special Treasury Bonds will prevent a contraction in the country’s infrastructure spending, but it will not lead to an acceleration. Stay caut...
This month the Equity Score flatted out after a sharp increase last month. Three out of the four model inputs driving the sector views are near neutral, suggesting we may see a rotation in sector preference over the next few months. The Style Indicator continues to align with Large-Cap Value....
The equity rally extended into March as hard landing outcome was priced out. It has broadened, as money flowed into less over-loved pockets of the market. Our models signal that margins are about to stabilize, and earnings growth will accelerate as the year progresses. However, companies are raising...
