Steno Signals #98 – The recession panic is back right as liquidity is returning!
Happy Sunday from a wet Copenhagen!Let me just admit to it upfront. Last week didn’t play out according to my macro thesis. The US cycle suddenly...
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Portfolio Watch – Time for liquidity bets
Hello everyone, and welcome back to our weekly portfolio watch. A slightly positive week for our macro portfolio, which after a couple of days of...
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2024 High Conviction Idea: The Case for a Rotation Out of Japan into Hong Kong - Part 2
Since we published this piece, The HSI is up 12%, the HSCEI is up 16% and the HSCCI is up 17%. Since January's bottom, when we reiterated BUY,...
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Overview #3 -The Good, the Bad, and the Bank of Japan
The Bank of Japan continues to tinker around the edges, not impacting the JPY's primary trend, while the Federal Reserve continues to run an easy...
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Surprise Weakness Job Growth Brings Rate Cut Closer
US employment growth in April cools down and comes in lower than expected, Unemployment rate slightly above expectations, equities rally while...
596 Views