Is US labour market resilience about to crumble?
September 30, 2022 | NS Partners
Revised numbers confirm that US GDP fell by 0.6% (1.1% annualised) between Q4 2021 and Q2 2022*. Hours worked in the private sector economy, meanwhile, climbed 1.1% (2.2% annualised) over the same period. What explain [...]
Warren Stoddart joins Chas Burkhart on the Global Investment Leaders podcast
September 22, 2022 | Connor, Clark & Lunn Financial Group
Warren Stoddart, CC&L Financial Group’s President and CEO recently joined Rosemont CEO Chas Burkhart as a guest on the Global Investment Leaders podcast.
Recession risks down under
September 29, 2022 | Global Alpha Capital Management
We discuss why Australia could better weather a recession.
Global monetary update: no respite
September 23, 2022 | NS Partners
Global six-month real narrow money momentum, the key economic leading indicator in the forecasting approach employed here, is estimated to have moved sideways in deep negative territory in August* – see chart 1. All [...]
Is China approaching a turning point?
September 22, 2022 | NS Partners
While global liquidity remains poor, EM countries are dealing with a more manageable inflation problem than in DM. Money numbers also point to a better economic outlook for EM.
Always in style
September 22, 2022 | Global Alpha Capital Management
In this week’s commentary we are profiling Dentium (145720 KS), a Korean dental implant manufacturer, and one of the top holdings of our Emerging Markets strategy.
Ignore central bank hysteria: inflation risks are fading fast
September 21, 2022 | NS Partners
Global six-month consumer price inflation peaked in June and fell further in August, reflecting pass-through of lower oil prices and a small decline in core momentum. Current commodity prices suggest a sizeable furthe [...]
Outlook – September 2022
September 14, 2022 | CC&L Investment Management
Equity markets rebounded in the summer months, rallying when inflation edged off its highs or when Fed Chair Powell raised the possibility of a slowing in the pace of rate hikes. Throughout this period, earnings forec [...]
A strong balance sheet the recipe to avoid capital loss
September 8, 2022 | Global Alpha Capital Management
In this week’s commentary, we discuss an important item we look at before investing in any company: the strength of the balance sheet.
Will Truss largesse reverse dangerously weak UK money trends?
September 7, 2022 | NS Partners
UK monetary trends continue to argue against Bank of England policy tightening. Annual growth of non-financial M4 – comprising money holdings of households and private non-financial firms – was 3.7% in July, [...]
Revenge travel and Samsonite
August 25, 2022 | Global Alpha Capital Management
Recently, it seems everyone is travelling again with travel activities dramatically increasing in most regions. In this week’s commentary we profile our holding Samsonite, the world’s largest travel luggage compan [...]
Cyclical sectors still vulnerable
August 24, 2022 | NS Partners
Cyclical equity market sectors have recouped part of their H1 underperformance of defensive sectors but monetary and cycle considerations suggest further weakness ahead. MSCI divides the 11 GICS sectors into cyc [...]
Observations from the Quarter Q2 2022
August 19, 2022 | Vergent Asset Management
The strategy generated a net return of -14.2% in Q2 2022 bringing returns to -24.2% for the year-to-date period ending June 2022.
Chinese money update: net improvement
August 17, 2022 | NS Partners
The assessment here a month ago was that Chinese monetary policy easing was gaining traction but that additional stimulus and a further recovery in narrow money momentum were required to adopt a positive view of eco [...]
Outlook – August 2022
August 12, 2022 | CC&L Investment Management
Risk assets have rebound since mid-June, as investors expect economic weakness to alter central bank tightening course. Last month, we explored the greatest risk to our near term view, which is a sustained upside surp [...]