Macro

Find the latest macro analysis and insights

Value Stocks: The Cash-Flow Case for a Continuing Comeback
  • 20 hours ago

Are value stocks finally turning the corner? Recent trends are encouraging. It’s easy to understand why investors are skeptical about value stocks. After nearly two decades of chronic weakness, val...

The Federal Reserve’s New Leader Lays Out His Agenda
  • 20 hours ago

The real information from Kevin Warsh’s first meeting as Fed chair wasn’t from the rate decision. Kevin Warsh, the newly appointed Federal Reserve chair, led his first committee meeting in June. Th...

Hard Assets, Harder Reality: The Case for Infrastructure
  • 20 hours ago

In a world of structural inflation and shifting global investment, infrastructure is evolving into a critical source of stable, long term, asset backed returns.

Semiquincententacles
  • 20 hours ago

Behold the Aquilaceph, half-bald eagle and half-octopus. On the semiquincentennial 250th anniversary of the US Declaration of Independence, this imaginary beast is a metaphor for the continued US g...

The Weekly Brief
  • 22 Jun 2026

The Bank of England (BoE) is in a challenging position as the UK economy battles with still-sticky inflation and questions around the growth outlook. Last week’s data showed headline inflation acce...

A new Fed era under Warsh
  • 22 Jun 2026

The Fed left interest rates in the range 3.5% - 3.75%, a widely expected outcome. The decision to hold was unanimous.

The SpaceX IPO: We Have Liftoff
  • 22 Jun 2026

How the SpaceX IPO highlights the role of AI-driven capex in boosting productivity, earnings, and shaping a more resilient global economic expansion.

Pursuing positive impact through fixed income
  • 22 Jun 2026

From 17th‑century Dutch flood defences to modern social bonds, fixed income has long financed vital public needs – emerging as a powerful, scalable force for measurable social impact.

Building into the Future: The Case for US Industrial Development
  • 22 Jun 2026

Clarion Partners: The convergence of long-term structural drivers and emerging cyclical tailwinds suggests the industrial sector may be approaching an inflection point, with conditions increasingly...