A recent article caught my attention and I thought I would share it here before some clients start coming to me with another “the dollar is collapsing” story. Norway’s sovereign wealth fund which manages around USD2.3 trillion is proposing to reduce government bonds from 70% to 50% of its bond allocation. Based on current holdings,…

I will be away over a couple of days, so the blog will be taking a short break. That said, I know myself well enough. If I find a quiet moment in an airport lounge, on a train, or somewhere in transit, I will probably end up writing something anyway. Old habits are hard to…

There is no shortage of reasons to be bearish at the moment. We have war, oil heading toward USD90, inflation still hanging around and, just to make things more interesting, the possibility of the Fed hiking rates. The Fed meets September 15–16 which means Friday’s inflation report comes at a pretty interesting time. The market…

I periodically recycle old posts on my blog to ensure that new clients can benefit from valuable content they may have missed and this post is one such example.  We certainly live in interesting times. In the digital age, artificial intelligence (AI) is transforming various aspects of our lives. The conclusion I am getting from…

I picked this up from a conversation between two partners based in the US. One was clearly more bullish than the other, and I thought his argument was interesting. His view is that Warsh will probably try to keep everyone reasonably happy by leaving rates unchanged through the end of the year. Well, that should…