Founder, Market Thinker

Mark Tinker

Founder

Market Thinker

Mark Tinker has over 35 years experience as an investor, market strategist and economist. Having spent more than 20 years as a sell side strategist and being top rated on numerous occasions and surveys he moved to investment management in 2006 to run global equity portfolios in London and subsequently moved to Hong Kong in 2013 to help establish an Investment Management business for a top 20 international asset manager. He first started writing investment weeklies for his employers in 1989, developing a style characterised under the title Market Thinking and has been a regular commentator and presenter on CNBC, Bloomberg and other business channels, where his approach of rationalising market behaviour rather than making short term predictions on high frequency market data provides a welcome balance to his client audience.

Making Sense of the Narrative

Macroeconomics

<ul><li>The famous Gilray cartoon of Pitt and Napoleon carving up the world has ironic resonance as Russia and the US meet up in Saudi Arabia this week with UK, Europe and Ukraine are not even invited.</li><li>To be fair, this is more about re-establishing US/Russia relations before any progress can be made on Ukraine, but the, now perpetually outraged, EU politicians, still smarting from their telling off by JD Vance at the Munich Security Conference last week, should perhaps be reflecting on the notion that the US may be taking a more Palmerston-like view to alliances…</li><li>Therefore I say that it is a narrow policy to suppose that this country or that is to be marked out as the eternal ally or the perpetual enemy of England.</li></ul>

The famous Gilray cartoon of Pitt and Napoleon carving up the world has ironic resonance as Russia and the US meet up in Saudi Arabia this week with UK, Europe and Ukraine are not even invited.To be fair, this is more about re-establishing US/Russia relations before any progress can be made on Ukraine, but the, now perpetually outraged, EU politicians, still smarting from their telling off by JD Vance at the Munich Security Conference last week, should perhaps be reflecting on the notion that the US may be taking a more Palmerston-like view to alliances…Therefore I say that it is a narrow policy to suppose that this country or that is to be marked out as the eternal ally or the perpetual enemy of England.

Asia L/S Equity PM/Macro/Thematic Idea Generation

Rikki Malik

Cross Asset Strategy

<ul>
<li>A review of recent events/data impacting our investment themes or outlook</li>
<li>China rally continues in the tech sector as investors “discover” the value</li>
<li>More evidence that the USD has peaked while gold continues to be at risk of a stock market correction</li>
</ul>


A review of recent events/data impacting our investment themes or outlook
China rally continues in the tech sector as investors “discover” the value
More evidence that the USD has peaked while gold continues to be at risk of a stock market correction


Head of Research and Global Chief Strategist, Steno Research

Andreas Steno

Head of Research and Global Chief Strategist

Macro and Geopolitical Research House

Steno Research

Steno Research is a new macro and geopolitical research house. We are based out of Copenhagen, Denmark, but have an international team and a strong network of sources and partners around the world. The team is lead by Andreas Steno, previous global head of strategy at Nordea Bank, and Mikkel Rosenvold, former chief consultant in the Danish Ministry of Finance.

<ul><li>Welcome to our weekly editorial on everything macro, where we cut through the noise and deliver contrarian takes on macroeconomics, liquidity, tradeable themes, and everything in between.</li><li>Reciprocal tariffs is a concept you’ll need to familiarize yourself with.</li><li>Despite Trump’s press conference last week being a confusing mess, lacking clarity on geographies, products, and specific tariff/VAT rates targeted in this tit-for-tat approach, the aim seems crystal clear: Trump wants a global response, and it could very well lead to globally lower tariffs and VAT rates.</li></ul>

Welcome to our weekly editorial on everything macro, where we cut through the noise and deliver contrarian takes on macroeconomics, liquidity, tradeable themes, and everything in between.Reciprocal tariffs is a concept you’ll need to familiarize yourself with.Despite Trump’s press conference last week being a confusing mess, lacking clarity on geographies, products, and specific tariff/VAT rates targeted in this tit-for-tat approach, the aim seems crystal clear: Trump wants a global response, and it could very well lead to globally lower tariffs and VAT rates.

Steno Signals #185 – Reciprocal Tariffs Are GOOD News! Here Is Why!

<ul>
<li>Welcome to our weekly editorial on everything macro, where we aim to paint a medium-term picture of liquidity, growth, and inflation—and how these factors will impact your allocation.</li>
<li>It seems The Donald has a penchant for late Friday tariff announcements, keeping markets on edge for a second consecutive Monday open.</li>
<li>This pattern is starting to take shape, though we likely need a third occurrence before drawing statistical conclusions.</li>
</ul>


Welcome to our weekly editorial on everything macro, where we aim to paint a medium-term picture of liquidity, growth, and inflation—and how these factors will impact your allocation.
It seems The Donald has a penchant for late Friday tariff announcements, keeping markets on edge for a second consecutive Monday open.
This pattern is starting to take shape, though we likely need a third occurrence before drawing statistical conclusions.


Steno Signals #184 – Here is the roadmap for the business cycle in 2025

Quantitative Researcher, MRM Research

Nico Rosti

Quantitative Researcher

MRM Research

Quantitative Research

Quantitative Analysis

<ul>
<li>In a <a href="https://www.smartkarma.com/insights/gold-may-be-ready-to-restart-its-rally" target="_blank" rel="noopener">previous insight</a> we predicted that <a href="https://www.smartkarma.com/entities/gold" target="_blank" data-smartkarma-citation="entities:22870:1" rel="noopener">Gold (GOLD COMDTY)</a> was about to rally. Since then, <a href="https://www.smartkarma.com/entities/gold" target="_blank" data-smartkarma-citation="entities:22870:1" rel="noopener">Gold</a> has been rising for 6 consecutive weeks. </li>
<li>Our tactical quantitative models indicate that <a href="https://www.smartkarma.com/entities/gold" target="_blank" data-smartkarma-citation="entities:22870:1" rel="noopener">Gold (GOLD COMDTY)</a> is OVERBOUGHT from a WEEKLY perspective, i.e. we expect a pullback that will last 1 or more weeks.</li>
<li>In this insight we will discuss both how much it can still rise and where to buy if there is a pullback, i.e. the support levels.</li>
</ul>


In a previous insight we predicted that Gold (GOLD COMDTY) was about to rally. Since then, Gold has been rising for 6 consecutive weeks. 
Our tactical quantitative models indicate that Gold (GOLD COMDTY) is OVERBOUGHT from a WEEKLY perspective, i.e. we expect a pullback that will last 1 or more weeks.
In this insight we will discuss both how much it can still rise and where to buy if there is a pullback, i.e. the support levels.


Gold Is Extremely OVERBOUGHT—Don't Buy Now, Pullback on the Horizon!

United States

Gold is a chemical element with the symbol Au (from Latin: aurum) and the atomic number 79. In its purest form, it is a bright, slightly reddish yellow, dense, soft, malleable and ductile metal. Chemically, gold is a transition metal and a group 11 element. It is one of the least reactive chemical elements, and is solid under standard conditions. The metal therefore occurs often in free elemental (native) form, as nuggets or grains, in rocks, in veins and in alluvial deposits. It occurs in a solid solution series with the native element silver (as electrum) and also naturally alloyed with copper and palladium. Less commonly, it occurs in minerals as gold compounds, often with tellurium (gold tellurides).

Price Gauge
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Gold (GOLD COMDTY)

Eternal and Perpetual

The famous Gilray cartoon of Pitt and Napoleon carving up the world has ironic resonance as Russia and the US meet up in Saudi Arabia this week...

Mark Tinker

Overview #16 – And the Beat Goes On

A review of recent events/data impacting our investment themes and outlook. We follow up on the Chinese bull market, Gold and the USD/JPY

Rikki Malik

Steno Signals #185 – Reciprocal Tariffs Are GOOD News! Here Is Why!

Welcome to our weekly editorial on everything macro, where we cut through the noise and deliver contrarian takes on macroeconomics, liquidity,...

Steno Research

Steno Signals #184 – Here is the roadmap for the business cycle in 2025

Welcome to our weekly editorial on everything macro, where we aim to paint a medium-term picture of liquidity, growth, and inflation—and how these...

Steno Research

Gold Is Extremely OVERBOUGHT—Don't Buy Now, Pullback on the Horizon!

Gold has been rallying for 6 weeks and is now overbought, we expect a pullback soon. If you plan to BUY, it's probably better to wait for the...

Nico Rosti

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Eternal and Perpetual

The famous Gilray cartoon of Pitt and Napoleon carving up the world has ironic resonance as Russia and the US meet up in Saudi Arabia this week...

Mark Tinker

Overview #16 – And the Beat Goes On

A review of recent events/data impacting our investment themes and outlook. We follow up on the Chinese bull market, Gold and the USD/JPY

Rikki Malik

Steno Signals #185 – Reciprocal Tariffs Are GOOD News! Here Is Why!

Welcome to our weekly editorial on everything macro, where we cut through the noise and deliver contrarian takes on macroeconomics, liquidity,...

Steno Research

Steno Signals #184 – Here is the roadmap for the business cycle in 2025

Welcome to our weekly editorial on everything macro, where we aim to paint a medium-term picture of liquidity, growth, and inflation—and how these...

Steno Research

Gold Is Extremely OVERBOUGHT—Don't Buy Now, Pullback on the Horizon!

​Gold has been rallying for 6 weeks and is now overbought, we expect a pullback soon. If you plan to BUY, it's probably better to wait for the...

Nico Rosti

Gold has been rallying for 6 weeks and is now overbought, we expect a pullback soon. If you plan to BUY, it's probably better to wait for the...