Serious investment thinking that doesn’t take itself too seriously.
You can't have a soft landing and a Fed pivot. Expected Fed funds rates by December 2023 Source: Refinitiv, Federal Reserve. After a dismal 2022, markets are off to a flying...
The rise of big tech stocks has been more about valuation than profits. Originally published January 2022. Ruffer LLP A bubble in profitless tech and so called ‘meme’ stocks may...
Originally published January 2022. As investment managers, we’re used to being accused of seeing the glass as half-empty rather than half-full. It’s not that we’re inherently...
Originally published April 2021. Inflation is in the news again. Many prices are rising even before we can physically get out and spend, and governments are pouring vast amounts...
Source: Ruffer, MacroHistory database, TS Lombard Chancellor Sunak will need a Plan B. The coronavirus pandemic has hit public finances like a war. Across the world governments...
Once a month we will bring you an interesting chart with a short commentary. Our aim is to illuminate the corners of financial markets. This time really is different - US...