Previous Reports
Beware of the concentration risks
The markets are looking past the oil crisis, but we believe investors are placing too much faith in a swift return to normality in the Middle East. As long as profit forecasts continue to rise, the bull market may continue, but risks are piling up: physical oil shortages, private debt stress, AI concentration and high valuations, among others. Are investors in for a nasty surprise?
A new macroeconomic framework for asset allocation
The war in the Middle East is driving a fundamental shift from efficiency toward certainty. The result: higher interest rates, slower earnings growth, elevated geopolitical uncertainty, and a changed central bank response to economic downturns. The consequences for financial markets and tactical asset allocation are substantial.
The two faces of AI for the markets
The bull market continues to be supported by strong growth and accommodative policy, but cracks are appearing beneath the surface. Is it time to reposition the tactical asset allocation?
