For a confluence of reasons ranging from COVID to property sector problems, China has been experiencing slower growth. Many cross-asset relationships suggest that a devaluation in China could help spur growth. Whether this will happen is another story, but if the Chinese Yuan began a…
Read More
Headquartered in Basel, Switzerland, Roche is one of the largest biotech companies in the world, providing state-of-the-art diagnostics and treatments for serious diseases, including COVID-19. Speaking of which, over the last two years, the firm has delivered a world-leading portfolio of diagnostic tests for COVID…
Read More
Sanofi is one of the largest pharmaceutical companies in the world. Headquartered in Paris, France, this Knowledge Leader’s roots go back to the 1800s, to French chemist Louis Pasteur’s early vaccine discoveries, leading to the founding of the Pasteur Institute for research, eventually becoming part…
Read More
In a year when the US is experiencing massive fiscal austerity, monetary tightening, war, inflation and a pandemic, there are many drags to stock performance. In our view, this puts the onus on sales and earnings to carry the S&P 500 higher. Fortunately, so far,…
Read More
The third largest homebuilder in the US, PulteGroup builds and sells homes in 40 cities across the country. As such, it has benefitted from new and emerging pandemic trends, including an increased preference for single-family living and ongoing remote work. This Atlanta, Georgia-based Knowledge Leader…
Read More
While many commentators scratched their heads at the Fed’s latest summary of economic projections (SEP), the market took its cue from Chairman Powell’s suggestion the US economy can withstand a barrage of rate increases this year without negatively impacting growth. In addition to the SEP,…
Read More
Known for its status as one of the top three US credit bureaus, Equifax is a global data analytics company with a goal of “helping people live their financial best.” The firm was founded in 1898 by two brothers, Cator and Guy Woolford. The former,…
Read More
For more than 100 years, Belden has been a leader in designing and manufacturing the cables and wires connecting the infrastructure that controls our roads, buildings, factories, energy supplies and homes. Founded in 1902 by Joseph C. Belden in Chicago, Illinois, the firm’s first breakthrough…
Read More
The Federal Reserve has all but cemented expectations for a 25bps rate hike next week. But, events have changed a lot in the last couple weeks that raise a faint hint that the Fed may not hike, despite elevated, persistent inflation. What makes us question…
Read More
2022 has been a tough year so far for risk management. This appears to us related to the inflation problem the US is experiencing. As long as inflation persists, the ineffectiveness of duration will likely persist. We think inflation will persist and are thus broadening…
Read More