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Previous Issues


26 / US jobs data shows late business cyclestage symptoms; the Unemployment Rate decline looking terminal

20 / Timing and Tactical Insight 

The Yield Curve is temporarily Oversold, it should bounce into Q1 2018, at the latest from early January

18/ Timing and Tactical Insight

Since September, Inflation and Growth expectations have finally been pulling long term rates up, how long is this trend sustainable?

12/  The Cycle Is Transitioning Towards The Last Stage  - Asset Outlook For H1 2018

37 / Japanese equities continue to rally on improving fundamentals and abundance of liquidity being provided by the Bank of Japan

46 / Splicing the markets --  The « Cyclicity » of Bitcoin

39 / Timing and Tactical Insight

Japanese Equities remain strong, while the USD/ JPY has started to move higher

We continue to believe that financial markets are far too complacent on the possibility that inflation may rise and consequently remain stubbornly sanguine with respect to the Fed and higher interest rates. This has seen a substantial flattening of the yield curve and although the trend towards flattening is something that may persist through 2018, for now, we see scope for the 10-year point on the curve to underperform, should the 2017 trading range be broken to the upside, leading volatility to rise.

Mark Dowding Bluebay asset management

he release of the Republican tax reform framework last week has breathed new life into the reflation trade that sprung to life in the second half 2016

Douglas Adams

the team
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