Buybacks Will Remain Supportive For U.S. Stocks

While stronger U.S. economic growth implies that a rising share of capital will be diverted to investment, our U.S. equity strategists doubt that the trend of a net contraction in shares outstanding is over. Businesses are generating enough … [More.]

House Of Cards

In recognition of last week's release of all 13 episodes of Season 2, we are reprinting - from our Chief Geopolitical Strategist, Marko Papic - an October 2013 review of the popular Netflix original series, House Of Cards. Anyone who has … [More.]

Update On U.S. Small Caps

Overall equity market volatility, poor breadth and a poor performance from the retail sector all warn of tactical trouble ahead for U.S. small cap stocks. Longer-term measures of risk are also flashing red. In the chart above we show the … [More.]

What Supports The Euro?

According to our FX strategists, the ECB on the sidelines and the ballooning current account surplus are bullish forces for the euro. The European economic recovery is proceeding and the ECB kept policy on hold last week. Unless Europe … [More.]

Global Asset Allocation: High Yield Versus Equities

Junk bonds have outperformed equities by a wide margin since their inception in the late 1980s. However, our Global Asset Allocation service anticipates a change for the following reasons: Highly attractive relative valuations: The spread … [More.]