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Founder and Strategist, Entext Economics & Strategy

Sean Maher

Founder and Strategist

Entext Economics & Strategy

Entext provides institutional investors with distinctive, actionable asset allocation and thematic research, which typically challenges the market consensus. Our clients range from credit, equity and multi-asset hedge and pension funds to family offices and sovereign funds. 
 
We focus on identifying key inflection points in macro data and relative asset performance amid the 'groupthink'  and confirmation bias that characterizes most investment bank analysis.

Macro Driven Investment Insight

Thematic (Sector/Industry)

The stunning EM equity rally YTD led by Asia has been justified by improving earnings/macro momentum and underpinned by tumbling IG and HY spreads.EM credit growth has accelerated from 5-6% in late 2016 to about 8% now while global trade volume growth has surged from flat to about 5% y/y.There are signs of complacency - cumulative portfolio inflows exceed $190bn since December and the global fund overweight in EM currencies in July approached historical highs last seen in 2011.If we see a…

The stunning EM equity rally YTD led by Asia has been justified by improving earnings/macro momentum and underpinned by tumbling IG and HY spreads.EM credit growth has accelerated from 5-6% in late 2016 to about 8% now while global trade volume growth has surged from flat to about 5% y/y.There are signs of complacency - cumulative portfolio inflows exceed $190bn since December and the global fund overweight in EM currencies in July approached historical highs last seen in 2011.If we see a…

India Vulnerable to EM Reversal, Li-Ion Batteries Set to Dominate Grid Storage...