Capital Daily Has China’s tech rally run out of steam? We think China’s tech stocks could rally a bit further yet, and perhaps outperform those globally for a while. 26th March 2025 · 4 mins read
Capital Daily Taking stock of US equity market exceptionalism While the drop and partial rebound in the US stock market over recent weeks has in many ways followed a familiar pattern, it has also seen some relatively unusual characteristics that point to the... 25th March 2025 · 4 mins read
Capital Daily Shifting economic sands in US & EZ are also driving markets Over the past month or so, economic data have generally surprised to the downside in the US, whereas they have done the opposite in the euro-zone. This may be one reason for the intervening shift in... 24th March 2025 · 4 mins read
Capital Daily Europe’s stock market: no big tech, no big sweat The prospect of looser fiscal policy in Germany isn’t the only significant reason MSCI’s Europe Index has outperformed its USA Index since Donald Trump returned to the White House. The ‘big-tech’... 21st March 2025 · 5 mins read
Capital Daily Two points on the Fed and the Treasury Trump Trade We still expect Treasury yields to rise by the end of the year, despite the seemingly reassuring news for bonds from the Fed on Wednesday. 20th March 2025 · 4 mins read
Capital Daily What to make of the sell-off in Turkey’s markets News that Turkey’s main opposition leader has been arrested today raises concerns over a potential return to unorthodox economic policy in Turkey. While the risks to our relatively upbeat view on... 19th March 2025 · 4 mins read
Capital Daily Germany close to releasing the brake – all aboard? A big spending plan nears in Germany, but that might not mean higher yields or a stronger euro. 18th March 2025 · 5 mins read
Capital Daily The relative prospects for Chinese and Indian equities The prospects for Chinese equities still appear quite bright to us, and in fact we expect that they will keep outperforming those in India over the rest of this year. 17th March 2025 · 5 mins read
Capital Daily Is the yen due a breather? The yen’s rally faces some near-term stumbling blocks, in our view, but we still think it will end this year stronger against the US dollar than it is now. 14th March 2025 · 4 mins read
Capital Daily Market impacts of central banks’ tariff responses While today's US PPI print supports our view that the Fed will stand pat this year, comments from central bankers in Canada and Japan suggest they may have different views about how over how to... 13th March 2025 · 4 mins read
Capital Daily Tariff & economic uncertainty trumps inflation data It’s little surprise that inflation data for February hardly moved the dial for the US stock market – that probably requires clarity on trade policy and signs of economic resilience. Our base case is... 12th March 2025 · 6 mins read
Capital Daily Growth scares, tariffs, and equity sell-offs As was the case last summer, we think the US stock market will bounce back from its “growth scare”, even if tariffs are involved this time around. 11th March 2025 · 5 mins read
Capital Daily China’s bonds could reverse course soon We suspect the jump in bond yields in China will prove short-lived. 10th March 2025 · 4 mins read
Capital Daily What to make of the post-payroll roundtrip in US markets While heightened uncertainty and worries about the US economy may keep investors on their toes for a while yet, we think the risk-on mood in markets will come back before the end of the year. 7th March 2025 · 4 mins read
Capital Daily Higher Bund yields probably here to stay The shift in the ECB’s tone today to acknowledge the increased uncertainty surrounding the outlook has pushed euro-zone bond yields up slightly, extending their surge over the past few days. Given... 6th March 2025 · 5 mins read
Event Drop-In: Is US equities exceptionalism dead? 1741795200 The recent underperformance of US equities marks a notable shift in the global market environment – but is this just a temporary state of affairs or the new order of things?&n
