By now investors are quite aware of the consequences of financial repression via negative real interest rate policies. Since interest rates on “risk free” government debt are too low to even compensate for inflation, it pushes investors out the risk spectrum in an effort to…
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In this quarter’s strategy package, we share our analysis on Japan’s Reopening Trade. In the full slide presentation, we cover the following: -Japan seems to have crushed the COVID-19 virus (for now at least) with daily new cases under 400/day. Lockdowns are over and the…
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New projections of the labor force growth rate by the US Bureau of Labor Statistics show the US labor force growth accelerating in the 2020s for the first time since the 1970s. How could this be? There are two reasons. More people are working past…
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Fed funds futures for 2022 and 2023 have broken out to new highs, likely on the back of rising inflation expectations. As things stand now, the market is looking for three hikes by the end of 2023, with the effective fed funds moving from 8bps…
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GEA is one of the largest global suppliers of food processing technology, building the machinery, plants, processes and systems that help producers deliver food to people. GEA aims to be the partner-of-choice in each industry it serves, including food, beverage, chemical, pharma, dairy and marine….
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Minerals Technologies makes specialty minerals for a wide range of consumer and industrial applications ranging from building, steel, glass, paints, ceramics and paper to the food, pharmaceutical and automotive industries. For example, the firm is the leader in clay-based cat litter. Its biggest business is…
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Martin Marietta Materials is a leader in high quality cement, ready-mixed concrete, asphalt and aggregates made of crushed stone, sand and gravel, all of which are used in industrial, agricultural and environmental construction. Based in Raleigh, North Carolina, the firm runs operations in 26 states,…
Read MoreEarlier this week we saw some tremors in the equity markets with the largest single-day selloff in stocks in months. The likely China Evergrande debt default was “blamed” for the weakness, which was then promptly reversed as the week progressed. Questions remain, however, about the…
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Based in Switzerland, ABB Group makes products for electrification (like breakers and switches), robotics and motion, industrial automation, and power grids plus the software behind the scenes that runs them. The firm’s chief goal is to push the boundaries of technology and embed sustainability into…
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Headquartered in Frankfurt, Germany, KION Group is one of the world’s leading makers of forklifts, warehouse equipment, and associated integrated automation technologies. The company was founded in 2006 when Linde AG merged its truck business with STILL and OM under the umbrella of KION Group….
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