There are two key variables to consider when investing in Chinese assets. First, the change in Chinese Communist Party (CCP)…
Posts by Independent Strategy
President Lagarde seemed hopeful that the ECB’s new inflation framework was a positive step forward. But the policy response seems…
Poor political decision-making has allowed the Covid-19 Delta variant to get a foothold among un-vaccinated groups. These still make up…
The idea that the US housing market is nearing bubble territory is far removed from reality. Prices might be rising,…
While the spread of the Delta variant is concentrated in healthy young adults in the developed economies, and vaccination coverage…
The ECB’s adjustment to its inflation targeting framework will require an ‘easier for longer’ policy stance. It might even necessitate…
Beijing’s crackdown on Chinese companies listing overseas is about China’s desire to control data even if it is at the expense of developing global technology giants
Network: RTHK Radio 3 Money Talk
This is about the shape of the economic cycle. The pandemic has created a new cycle: the ‘saw tooth’. We…
Headline data suggest the European pandemic experience entailed far more economic damage than seen in the US. Indeed, US GDP…
The outcome of the fairly low-key French regional elections at the weekend shouldn’t spook investors. The result was a fairly…
The jump in Taiwan’s already large external surpluses is not a one-off increase that will be corrected. Demand for the…
The Fed wake-up call was an event long awaited and long foreseen. But market response was not as I thought.…
The Fed has blinked. The committee sees a need for higher rates sooner than Powell had hoped. But the Fed’s…
While the green revolution continues to gather steam, there is still a high degree of procrastination going on. The radical…
The proposals from the G7 summit lacked implementation targets
Network: RTHK Radio 3 Money Talk
We have been long agricultural commodities (corn, wheat, soyabeans) since 18 January 2021 (see our report Buying food). Prices have…
Italy’s Target 2 story is a microcosm of a macrocosm and one that tells us a lot about the ECB,…
The CDU victory (of sorts) in the final regional election before September’s federal election reaffirm all our European strategic positions:…
Some things are clear. Lasting stimulus, particularly in the US, will keep demand above what the supply-side was traditionally capable…
It may be useful to set down our major recommendations and how they have changed recently. We have switched on…
