Premium Insights

There was to be no resurrection for US stock markets. Yesterday’s sharp sell-off was variously blamed on China’s retaliatory tariffs on the US, Trump’s ongoing

With many of you soon heading off for your Easter Break, today’s piece is simply Three Charts* and One Radio Show For Your Listening Pleasure… 1. Along with Easter, this week we have month-end, quarter-end, and everybody’s favourite, Japan’s fiscal year-end. The often mystical repatriation flows have clearly been alive and well this year, with…

The passive money machine continues apace, with the FT this morning reporting that Japan’s GPIF (the world’s largest pension fund) will only pay active managers a fee if they actually make money (shock!): “Without excess returns, their fee must be equal to that of passive managers with the same amount of asset size”. With passive…

…that’s what Jerome will be saying to himself following his first post-FOMC press conference as Fed Chair. Not because he’s not confident: he clearly is, and presented himself as such. He was fluid and articulate, where Yellen was often halting and scholarly. No, it’s not his skill that he would have questioned, but just the…

There’s an unhappy truce at the heart of the market. The Ides of March has passed, the Japanese fiscal year end is almost upon us, and we seem to have survived the February shake down. The S&P 500 is still in positive territory YTD, while the US 10 year yield has backed off from hitting…