Strategic imperatives are replacing laissez-faire. Just-in-case trumps just-in-time. This unwinding of globalisation, which delivered the “Peace Dividend” and “Great Moderation” of the last three decades, will inevitably carry costs to the public purse and lead to inefficiencies in the private sector. Necessity dictates the policy shift. Below, thoughts on where it leads.
In this month's episode of Insider Talks, Julian Brigden and Raoul Pal join host Harry Melandri to discuss the complexities and implications of recent market moves. Plus, they'll look ahead to key drivers of what's to come in the next few weeks and take questions from Real Vision members.
Potential causes of disruption remain legion, but impulse is lacking. Bonds continue to sell off but insufficiently quickly to upset equities. The hope for a weak USD has dissipated but commodities have ground higher as energy and agricultural prices both rise for heterogeneous reasons. Hope dies last, but don’t lash out in frustration.
This publication is your ‘go-to’ to view a summary of trade recommendations proposed by Julian and Raoul in their respective In Focus pieces. Each month, we update the performance of these trade recommendations, adding and removing trades as per the advice given in any In Focus publication or Flash Update.
As we head into summer, I thought it a good idea to take stock of everything to ensure we are all on the same page. I want to do something a little different for this month’s In Focus and give you access to a section from Global Macro Investor that offers additional context around The Everything Code article, which by now you will hopefully have seen.