News & Insights
Unraveling Market Mysteries One Equation at a Time
Using Greek letters, numbers, and equations to describe the world is strange. Before I embarked on a near decade-long academic pursuit in the field of theoretical physics, I distinctly remember thinking about this peculiarity while sitting in my high school physics class staring at Newton’s laws of kinematics. It really is strange that we have […]
From the Desk of Our CIO
Fed Takes International Day of Happiness to Heart
The Federal Open Market Committee (FOMC) concluded their March meeting today and, as expected, left interest rates unchanged at 5.25%-5.50%. Given that this was widely anticipated, market participants looked through the main interest rate announcement and took their cues from Jerome Powell’s press conference and updates to the FOMC “dot plot,” which on balance were […]
From the Desk of Our CIO
Cocoa Prices Go Parabolic, Bunny Budgets Crumble
The historic rise in cocoa prices is showing little signs of slowing down, with prices having doubled in less than three months. While chocolate manufacturers typically buy beans months ahead of time, the surge in prices will likely soon flow through to consumers, as inventories are being whittled down due to the mad scramble for […]
From the Desk of Our CIO
Oil Outlook 2024: Trends, Tensions, and Trajectories
Escalating geopolitical tensions in the Middle East and an ongoing war in Ukraine have yet to jolt oil price materially higher, with crude benchmarks continuing to trade below the recent highs seen at the end of Q3 2023. Oil prices did find some support to start 2024 as extreme weather conditions in North America shuttered […]
News & Insights
Election Economics: Fiscal Frenzy & Market Musings
Much of the focus in financial markets over the past few months has been on the Federal Reserve and forecasts for when they will start to cut interest rates. At Viewpoint, we’ve been keenly interested in the interplay between monetary and fiscal policy, and the implications on the health of the economy. With election year […]
News & Insights
Craftsmanship in Whisky & Wealth
Five years ago, I had the pleasure of taking a trip to Japan. A popular tourist destination, the country is well known for its culinary scene, cultural heritage, and beautiful landscapes. And, while I was excited to eat my weight in sushi and ramen, as well as explore the beautiful architecture in Kyoto, I was […]
From the Desk of Our CIO
China’s Siren Song
I wrote a note just over two years ago about the Chinese investment landscape, and how the sweeping regulatory reforms that were enacted in early 2022 would likely act as a drag on equity multiples and investor sentiment. Fast forward to today and investor sentiment has improved little. Since the end of 2021, the Hong Kong […]
From the Desk of Our CIO
Brace for a Bumpy Ride
Please fasten your seatbelts and return your tray table to its full upright and locked position. Hopefully, the economy isn’t flying on a Boeing 737 MAX… Financial markets hit some turbulence yesterday, with both equities and bonds seeing broad based selling pressure after a warmer than anticipated U.S. inflation print. The headline reading for January […]
From the Desk of Our CIO
Bond Bulls Break Records
The U.S. Treasury sold a record $42 billion of 10-year notes on Wednesday and, much to relief of bond bulls, the auction saw strong demand with a bid-to-cover higher than the average over the past six auctions. The auction also stopped through, which means that the highest yield resulting from the auction was lower than […]