Investment Strategy Insights

Barbarous relic or currency hedge ...

You choose ....

Defence is a major winner in the new geopolitical reality we occupy ...

Japan is just one ... others will be following ...

I'm thinking this warrants cuts ...

Never forget ...

That inflation is kryptonite for politicians ...  and higher rates will cool the housing market ...

The wonderful world of office ...

These numbers are not new - if you look at the % of stock that is currently rated below the target energy efficiency levels in most European countries ... only about 30% meets the targets ... about 30% sits in the 'gray area' of needing some capex to meet the target

Now that's something I didn't expect to happen ...

The European challenge ...

Nicely put ...

UK rental supply ...

Is that a pendulum I see swinging ...

Signs of life in US office occupancy ... this is one where the US is lagging the ROW ... we have all been where NYC is for a while now ... and while I am not sure that office markets will ever be quite the same again as a portfolio anchor... I think

Striking chart ...

If Ukraine & Russia settle ...

Then energy costs in Europe might come down ... which IMHO would yield a bigger boost than the a drag from tariffs ...

Gulp...

Touche...

Nice repost ...

GS bullish US vs EU ...

Sets up a very interesting divergence ... but it will also trigger some really deep debates about the central bank actions, inflation risks and duration...

Rate vol ...

As goes the path of inflation vol ... so goes the path of rate vol ...

Solar ...

Europe leading ... (for once!)...

Real Rates ..

A gap between inflation expectations and rates expectations only really makes sense if real rates stay right where they are ...   the Fed is going to rapidly run out of road ...

No landing ...

One of just a handful of charts from Wednesday's 'Points of Return' by John Authers ... superb...

Makes you think ...!!

Perfectly put ... the job is about recognising change and adapting ...

Alot of love for Louis Gave ... he nails it here ...

Strategic autonomy happens on both sides of any divide...

Surprised face emojii....

Going nuclear...

I love these two charts ...

I think they perfectly express the power of transformation technology ...

European banking system ...