Commentary

The Epitome of Financial Repression in 2 Charts

By now investors are quite aware of the consequences of financial repression via negative real interest rate policies. Since interest rates on “risk free” government debt are too low to even compensate for inflation, it pushes investors out the risk spectrum in an effort to achieve a positive rate of return after inflation.

Commentary

For The First Time Since the 70s, Demographics Support Higher Rates

New projections of the labor force growth rate by the US Bureau of Labor Statistics show the US labor force growth accelerating in the 2020s for the first time since the 1970s.

Commentary

Is Inflation Starting to Impact Equity Returns?

Fed funds futures for 2022 and 2023 have broken out to new highs, likely on the back of rising inflation expectations. As things stand now, the market is looking for three hikes by the end of 2023, with the effective fed funds moving from 8bps today to 85bps.

Commentary

Spotlight GEA Group: Processing Half of All Beer on Earth

GEA is one of the largest global suppliers of food processing technology, building the machinery, plants, processes and systems that help producers deliver food to people.

Commentary

5 Divergences in the Stock Market to Keep an Eye on this Fall

With the S&P 500 up nearly 20% and international developed stocks up 13% year-to-date, the markets are having a banner year so far.

Commentary

Spotlight Straumann: Dental Dominance and Digitization

Today Straumann leads the market with a full portfolio of prosthetics and products for restoring and regenerating teeth and dental tissue. Over the last 30 years, it has enabled millions of people to regain tooth function and improve the appearance of their teeth.

Commentary

Mid-Quarter Update: What Does Transitory Mean?

Mid-Quarter Update: what does transitory mean?

Commentary

Spotlight Sofina: Pioneers in Family-Led Corporate Innovation

Based in Brussels, Belgium, with offices in Luxembourg and Singapore, Sofina is a family-run investment company with equity holdings in Europe, the U.S. and Asia.

Commentary

Spotlight Carl Zeiss Meditec: A Vision in Innovation

Carl Zeiss Meditec was formed in 2002 when the medical device business was spun off from the larger Zeiss Group, a leader in optical, semiconductor and electronics manufacturing equipment founded in 1846 in Germany.

Commentary

What is the Culprit(s) for Recent Equity Weakness?

Just when everyone thought we had COVID-19 whipped, the delta variant came along and US cases inflected higher.

Commentary

Here’s Why the US May Have a Housing Boom for the Next 5 Years

The United States is just at the beginning of a housing boom that could last for the next five years.

Commentary

Inflation Is Starting to Weigh on Consumer Confidence and Spending

This week US CPI inflation for June rose at a stunning 0.9% MoM, or 11% annualized, placing it among the highest sequential inflation readings in the past 40 years.

Commentary

Spotlight Pandora: Charming the World with Jewelry Innovations

Known globally for its charm bracelets, Pandora is the world’s largest jewelry brand.

Commentary

Payroll Report Gives Little Ammo to Fed Hawks

The ever-important payroll report came in ahead of expectations for June, but will ultimately do little to sway policy in toward the hawkish faction of the Federal Reserve Board.

Commentary

Spotlight Associated British Foods: Organizational Capital at Work Feeding Britons

Headquartered in London, UK, Associated British Foods is a diversified food ingredients and retail group and owner of the global brands Twinings, Ovaltine and Mazola.