Latest views

The US dollar reaches a crossroad

We believe the US dollar remains in a long-term bear market against its major trading partners, like Europe, Japan and selective EM markets. This view is backed by long-term investor positioning and the twin US deficits. However, the short-term outlook has been clouded by the recent rise in US yields and softening economic data outside the US.

Seeking direction

Year to date, global equities have finished 17 trading days with a move of greater than 1% up or down, compared with just three in all of 2017. Yet, having traded within a 10% range, they are roughly flat on the year at the time of writing (Fig. 1). Behind this volatile and directionless trading pattern are at least three areas of heightened uncertainty: geopolitics, trade, and interest rates.

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Questions we're tracking

Each month we will answer five of the top questions on investors' minds and on our minds as we determine our House View positioning.

Thematic spotlight

Fintech: An easier way to split the bill.

Key topics

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