Protests In Brazil: Policies Have Consequences

Brazilians are coming to terms with a new economic reality: the commodity fueled growth bonanza has run its course and living standards are failing to keep up with the government’s rhetoric on Brazil’s growth miracle. This downward adjustment in exp … [More.]

Australian Dollar: Oversold

Within the G10 currencies, the position adjustment in the Australian dollar has been the swiftest, and leaves the currency with decent upside. Over the past few weeks, speculators have gone from a large long position in the Aussie to a near record … [More.]

Japanese Nikkei: Hold On!

Despite the massive correction, the multi-year outlook for Japanese equities are positive, provided policymakers can retain credibility. We have written in previous research that the massive gains made in the Nikkei earlier this year would be … [More.]

U.S. Equity Sector Performance Before Fed Tightening

U.S. equity sector performance suggests that a re-pricing of Fed expectations is slowly developing.  In the current cycle of Fed unorthodoxy, QE programs represent the most relevant/appropriate monetary policy tool to make historical comparisons … [More.]

Right Time To Buy U.S. CRE, But Forget The Trophies

There is a buying opportunity in U.S. commercial real estate (CRE). Although some markets have sharply appreciated over the past two-three years, there are still opportunities to pursue. According to our Global Real Estate Strategy service, U.S. … [More.]