Our retail product published in collaboration with Raoul Pal of GMI and Real Vision TV. It is a lighter macro research newsletter focused on assets available to retail investors. Many of our clients use it to reinforce the message.
This month Raoul hosts a guest article by Lawson Steele, updating us on the opportunity in EU Carbon allowances in 2023/24.
US Exceptionalism has dominated the investment landscape since the GFC lows. The tide appears to have turned as capital returns home or goes in search of value outside of the US. If this persists, it will have implications for asset allocation within equities with a reflexive impact on currencies. A thesis follows.