Global Multi-Asset Investment Strategist, True Insights

Jeroen Blokland

Global Multi-Asset Investment Strategist

Build Well-Diversified Multi-Asset Portfolios

True Insights

Our research helps investors build well-diversified multi-asset portfolios and profit from market developments. In addition, our unique and proven Macro – Sentiment – Valuation (MSV) investment framework ensures a consistent flow of new investment opportunities. Together with our market views, these opportunities will be reflected in our live ETF-based Global Multi-Asset Portfolios.

Cross Asset Strategy

<ul>
<li>BlackRock is feeding Bitcoin animal spirits. The last time the SEC rejected a product offering from the ‘inventor’ of iShares was in 2014. BlackRock has a success ratio of 99.8%.</li>
<li>The SEC's main objection to approving a physical Bitcoin ETF has always been 'price manipulation.' Hence, BlackRock has entered a ‘surveillance-sharing’ agreement with Nasdaq</li>
<li>We updated our Bitcoin as a gold-like insurance premium scenario analysis to provide estimates about Bitcoin's future price.</li>
</ul>


BlackRock is feeding Bitcoin animal spirits. The last time the SEC rejected a product offering from the ‘inventor’ of iShares was in 2014. BlackRock has a success ratio of 99.8%.
The SEC's main objection to approving a physical Bitcoin ETF has always been 'price manipulation.' Hence, BlackRock has entered a ‘surveillance-sharing’ agreement with Nasdaq
We updated our Bitcoin as a gold-like insurance premium scenario analysis to provide estimates about Bitcoin's future price.


<ul>
<li>That Bank of England had to increase the pace of interest rate hikes so late in the tightening cycle is incontrovertible evidence that the central bank remains behind the curve. </li>
<li>Based on the historical relationship between consumer and producer prices, with a PPI of 1.0%, German headline inflation should be just below 2%</li>
<li>The NASDAQ Index and the US interest rates are diverging rapidly. This is not what is supposed to happen in a discounted cash flow model for growth stocks.</li>
</ul>


That Bank of England had to increase the pace of interest rate hikes so late in the tightening cycle is incontrovertible evidence that the central bank remains behind the curve. 
Based on the historical relationship between consumer and producer prices, with a PPI of 1.0%, German headline inflation should be just below 2%
The NASDAQ Index and the US interest rates are diverging rapidly. This is not what is supposed to happen in a discounted cash flow model for growth stocks.


The Weekly Market Monitor – Another Hawkish Twist

<ul>
<li>For the first time in the current melt-up, our Fear &amp; Frenzy Sentiment has touched ‘Frenzy’ territory, suggesting the rally has run its course, at least temporarily.</li>
<li>China has cut rates and is contemplating more stimulus to bolster sectors like real estate and domestic demand. Meanwhile, the economy continues to slow.</li>
<li>In a surprise move, Blackrock has filed for a spot Bitcoin ETF with Coinbase as a custodian!</li>
</ul>


For the first time in the current melt-up, our Fear &amp; Frenzy Sentiment has touched ‘Frenzy’ territory, suggesting the rally has run its course, at least temporarily.
China has cut rates and is contemplating more stimulus to bolster sectors like real estate and domestic demand. Meanwhile, the economy continues to slow.
In a surprise move, Blackrock has filed for a spot Bitcoin ETF with Coinbase as a custodian!


The Weekly Market Monitor (24) – Our Key Sentiment Index Signals Market FRENZY

Market & Forensics Analyst, Beat the Street

Nimish Maheshwari

Market & Forensics Analyst

Beat the Street

Beat The Street was founded by Nimish Maheshwari and Sudarshan Bhandari, both of whom are Chartered Accountants by Profession, known for their expert analysis in the fields of Business, Sectoral analysis, and Corporate governance.

With a strong social media presence of 45,000+ Subscribers across various platforms, they are considered trusted voices in the industry. Their insights and analysis have been featured in some of India’s most prominent publications, including the Economic Times, Dalal Street Investment Journal, The Morning Context, and The Ken.

Their analysis on Bankrupt & Insolvent companies has been instrumental in saving investors from significant losses. They have a keen eye for identifying red flags and has identified exclusive redflags earlier in Vedanta, Nykaa, Dhani Services, Adani and many more.

Read Business Not Stock Prices

Event-Driven

<ul>
<li>BofA will invest up to INR 18,268 crore for 49.9% of Jio Credit, beginning with 26.5% equity and moving to 49.9% through warrants convertible within 18 months.</li>
<li>At a 5.5x debt-to-fresh-equity scaling assumption, the new capital can underpin roughly INR 1.0 trillion of incremental borrowings, a step-change in lending capacity.</li>
<li>Jio Credit can move from INR 30,667 crore AUM toward the scale of Mahindra Finance, L&amp;T Finance and HDB Financial much faster than organic capital generation alone would allow.</li>
</ul>


BofA will invest up to INR 18,268 crore for 49.9% of Jio Credit, beginning with 26.5% equity and moving to 49.9% through warrants convertible within 18 months.
At a 5.5x debt-to-fresh-equity scaling assumption, the new capital can underpin roughly INR 1.0 trillion of incremental borrowings, a step-change in lending capacity.
Jio Credit can move from INR 30,667 crore AUM toward the scale of Mahindra Finance, L&amp;T Finance and HDB Financial much faster than organic capital generation alone would allow.


Jio Credit’s ₹18,268 Crore BofA Deal: The Shortcut to ₹1 Lakh+ Crore Loan Book

New Zealand Professional Investment Services Firm, Forsyth Barr

Forsyth Barr

New Zealand Professional Investment Services Firm

We are proud to be a New Zealand owned firm, with 21 offices throughout the country and over 300 employees. We assist personal, institutional and corporate clients providing a full range of investment services.

Forsyth Barr is a foundation New Zealand Exchange firm (NZX) and accredited market participant. We have been confirmed by the Financial Markets Authority as a Qualifying Financial Entity (QFE).

Research is the cornerstone of our advice. We have one of New Zealand's leading teams of analysts. Our global affiliations ensure comprehensive research coverage of all major investment markets.

Equity Bottom-Up

<ul>
<li>Spark NZ (SPK) will report its FY26 result on Thursday, 20 August 2026.</li>
<li>FY26 EBITDAI and free cash flow guidance has been reiterated at its recent update, so attention will turn to the quality of the result and initial FY27 guidance.</li>
<li>We expect SPK has continued to lose share in mobile and broadband through 2H26, but mid-single-digit mobile price increases effective 31 July 2026 should offset this in FY27.</li>
</ul>


Spark NZ (SPK) will report its FY26 result on Thursday, 20 August 2026.
FY26 EBITDAI and free cash flow guidance has been reiterated at its recent update, so attention will turn to the quality of the result and initial FY27 guidance.
We expect SPK has continued to lose share in mobile and broadband through 2H26, but mid-single-digit mobile price increases effective 31 July 2026 should offset this in FY27.


Spark NZ FY26 Preview—Testing the Signal

United States

BlackRock, Inc. provides investment management services. The Company offers investment, advisory, and risk management services. BlackRock serves individuals, families, educational, governments, insurance companies, and non profit organizations worldwide.

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BlackRock (BLK US)

Everybody Wants Bitcoin!

The race for a US physical Bitcoin ETF is on now that BlackRock has filed with the SEC. Yet, the SEC's main objection to approval, the risk of...

Jeroen Blokland

The Weekly Market Monitor – Another Hawkish Twist

The Bank of England confirms central banks and more monetary tightening is coming. Will investors shy away from (very) expensive equities and look...

Jeroen Blokland

The Weekly Market Monitor (24) – Our Key Sentiment Index Signals Market FRENZY

Our Fear & Frenzy Sentiment Index is on the verge of entering FRENZY territory, which would be the first time during the latest rally!

Jeroen Blokland

Jio Credit’s ₹18,268 Crore BofA Deal: The Shortcut to ₹1 Lakh+ Crore Loan Book

Bank of America to invest INR 18,268 crore in Jio Credit for 49.9% stake, boosting lending capacity and AUM significantly.

Nimish Maheshwari

Spark NZ FY26 Preview—Testing the Signal

Spark NZ (SPK) will report its FY26 result on Thursday, 20 August 2026. FY26 EBITDAI and free cash flow guidance has been reiterated at its recent...

Forsyth Barr

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Everybody Wants Bitcoin!

The race for a US physical Bitcoin ETF is on now that BlackRock has filed with the SEC. Yet, the SEC's main objection to approval, the risk of...

Jeroen Blokland

The Weekly Market Monitor – Another Hawkish Twist

The Bank of England confirms central banks and more monetary tightening is coming. Will investors shy away from (very) expensive equities and look...

Jeroen Blokland

The Weekly Market Monitor (24) – Our Key Sentiment Index Signals Market FRENZY

Our Fear & Frenzy Sentiment Index is on the verge of entering FRENZY territory, which would be the first time during the latest rally!

Jeroen Blokland

Jio Credit’s ₹18,268 Crore BofA Deal: The Shortcut to ₹1 Lakh+ Crore Loan Book

​Bank of America to invest INR 18,268 crore in Jio Credit for 49.9% stake, boosting lending capacity and AUM significantly.

Nimish Maheshwari

Spark NZ FY26 Preview—Testing the Signal

Spark NZ (SPK) will report its FY26 result on Thursday, 20 August 2026. FY26 EBITDAI and free cash flow guidance has been reiterated at its recent...

Forsyth Barr

Bank of America to invest INR 18,268 crore in Jio Credit for 49.9% stake, boosting lending capacity and AUM significantly.