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The Multi-Asset Investor: Flash Note

The Multi-Asset Investor: Flash Note

Trade in Soda; Following my recent note it has become clear that the long-end of the bond market is in trouble. In November, I had taken the view that the yield back at 2002 levels represented good value and would prove effective should the stockmarket turn down. That level was

Equities

Equities

Flash Note; The market reaction in both the UK and US to the lower inflation data is notable, and I believe we should increase equity exposure. As always in a flash note, I will give more information next Tuesday.

Technology

Technology

Flash Note; I have been reviewing the tech sector, and evidence is mounting that it has peaked. I can’t say that with certainty, but it feels like buyers have finally hit exhaustion. 4 of the 7 big tech stocks are turning down, and the artificial intelligence trade is cooling.

Commodities

Commodities

Flash note; Commodity prices are coming under pressure once again. I can continue to make a bullish medium-term case for gold and oil, but we cannot escape the mounting evidence of a Chinese slowdown. The latest casualty has been industrial metals, with copper leading the way down. My hope was

Reducing Risk

Reducing Risk

Flash Note I recently made the case to add to commodities. The logic was that the Chinese recovery would be strong while the dollar was weakening. Having sold commodity stocks last year after a fabulous run, they had fallen enough, and it was an opportunity to buy. The Chinese recovery

Reducing Risk - Part 2

Reducing Risk - Part 2

Flash Note The banking sector remains under pressure with the latest concern being Credit Suisse (CSGN SW). The shares have fallen below CHF 2 (from CHF 50 a decade ago). Concerns have grown over its viability, with a leading shareholder having ruled out a lifeline. The risk is that the

Silicon Valley Bank: Never just one cockroach

Silicon Valley Bank: Never just one cockroach

AAA: Flash Note; With the pace and rapidity with which the Fed has been tightening – all the while peddling the “soft landing” narrative – something was bound to break. And it finally has. Last week we saw Silicon Valley Bank shut down by regulators in the second-largest bank failure in US