Category: Insights

Macro Two things drove markets in May 2026: a potential resolution to the Middle East conflict and an AI-driven equity rally that continued to defy the macro backdrop. On the geopolitical front, diplomatic channels between the United States and Iran…

Macro The Federal Reserve's policy direction remains uncertain, with market participants and economists expressing divergent views on the timing and magnitude of future rate changes. The Federal Reserve held its benchmark policy rate steady at its April meeting, marking the…

Macro The energy shock from the Iran conflict has triggered a dramatic hawkish repricing of central bank rate expectations globally. As of March 21, markets had moved from pricing 2.4 cuts from the Fed before the war to 0.3 hikes,…

Macro February was a good month for investors with most asset classes delivering positive returns, while economic indicators globally looked positive with strong growth and stable inflation. The macro backdrop may remain supportive, as most nations are easing monetary policy…

Macro Heightened geopolitical risks have contributed to a more volatile market environment. Volatility skews have shifted decisively, with implied volatility on puts materially higher and downside protection trading at a premium. This contrasts with parts of 2025, when skews were…

Theme 1 - The Rate-Cut Narrative The market is currently pricing in roughly three rate cuts, bringing the Fed Funds target range to 300–325 bps by December 2026. To some, this expectation appears overly optimistic, especially as AI-driven investment continues…

This report assesses the durability of AI growth. The US equity rally is being powered by a single engine — AI — and the mechanics behind this boom are weakening. Beneath the trillion-dollar capex cycle lies a narrow growth model…

Macro October 2025 was a volatile month with trade tension between US and China increased after China’s announcement of rare earth export controls but recently agreed to postpone it and have a one-year trade truce between them in the South…

This report examines China's rapid advances in Artificial Intelligence (AI) and how its efficiency is not only narrowing the gap with the West but also increasingly positioned to surpass the Western leadersBelow, we’ve outlined several key takeaways to give you…

Macro In August 2025, many significant events have happened from the 1st August 2025 Tariff deadline to the deadly protest which happened in Indonesia. Countries like Switzerland was caught by surprise by President Trump’s imposition of a 39% tariff rate…