Research report

Ask an investor how they’re feeling and they’re likely to echo the wary positivity of Larry David’s famous line on “Curb Your Enthusiasm”—“prett-ay, prett-ay, prett-ay good.”

There are periods when knowing many things and skillfully implementing them is the main source of alpha, but that hasn’t been the case since the financial crisis.

The Treasury Department’s issuance of a significant amount of debt in July caused a profound shock to bond markets and left investors questioning the U.S. fiscal position.

Are leading economic indicators sending false signals? If not, then Houston we have a problem.

Zero interest rates and quantitative easing have long provided seemingly interminable tailwinds. But 2022 and Q1 2023 prove we’re now in a cut-down phase.

Periods of mean reversion have always been a positive for the Global Allocation space. Read more about why we believe one such period is arriving and the opportunities we see in the global financial markets.