July 2019 

Issue #32, 15th July 2019

Available

Themes:

12/ Global GDP growth likely to make a trough in Q2 this year; US GDP growth expected to bottom in Q3 2019

​

24/ Earnings disappointment plus liquidity drought should create headwind for equities over the Summer

​

35/ The yield curve steepening is baked in the cake for the next 6 months

​

45/ Taking the mystique away from the Gold rally – the role of macro data and liquidity flows; further gold upside is likely limited to the end of Q3 2019

​

Splicing the markets - A hot Summer for Agricultural Commodities