Macro

Find the latest macro analysis and insights

Navigating Japan Equities: seeing beyond governance reform and defence spending
  • 20 hours ago

We analyse how Japan’s corporate governance reform is shifting from improving capital efficiency to strengthening long-term earnings power; we also explain how rising defence spending could be crea...

Regarding the Sharp Drop in Japanese Stocks on October 15
  • 20 hours ago

As of the close of the morning session today, Japanese stocks have fallen sharply, with the Nikkei 225 down 4.8% and the TOPIX down 2.5%. This was driven by the US consumer price index (CPI) exceed...

The Bridge Ep. 25: What’s Really Driving Inflation and Market Volatility
  • 20 hours ago

In Episode 25 of The Bridge, host Sonali Basak, Chief Investment Strategist at iCapital, sits down with Stephen Miran, senior strategist at Hudson Bay Capital Management and former Federal Reserve...

Weekly Comments on Credit: October 16, 2026
  • 20 hours ago

Global credit markets navigated a challenging week as persistently elevated U.S. inflation data reinforced expectations that the Federal Reserve (Fed) will hold rates higher for longer. The 10-year...

Building Bridges 2026: Turning sustainability ambitions into investments
  • 20 hours ago

The seventh edition of Building Bridges, Switzerland's largest sustainable finance conference, brought together 2,600

Emerging market debt Market commentary: Q3 2026
  • 15 Oct 2026

Rising US rates pressured emerging market debt in Q3, though resilient demand, attractive yields, and varied country performance helped support returns.

China gold market update: Q3 ends with strong official gold buying
  • 15 Oct 2026

In September, the PBoC added 23t of gold, the largest since October 2023 and concluding a robust Q3. Healthy September ETFs inflows also capped a strong quarter. Gold withdrawals from SGE benefited...

Fixed Income Forward: October 2026
  • 15 Oct 2026

Longer-dated US Treasuries look more attractive after years of overvaluation. We also like US high yield, floating rate notes and some securitised assets.

What 8,000+ LP questions tell us about the future of sustainable value
  • 15 Oct 2026

8,000 questions. 300 investors. One year. What LPs are asking about sustainability is changing fast and the answers now have to be measurable.