Consumer

Tracking the short term data is always a messy affair. The data is noisy, distorted by weather, holidays and the occasional error by those filling in the forms. That said, the tone tells a tale. The soft shift in patterns allows insights to be gleaned. When it comes to the economy, there is evidence across… Read More Consumer

Turnaround

It appears dresses are back in fashion. So too, special outfits like prom get-gos and the all-encompassing and verdant pick-me-out tones of the ‘mother of the bride’. And as the weather heats up and vaccines snuff out the virus, the consumer is getting back into denim. Macy’s CEO Jeffrey Gennette was just one of the… Read More Turnaround

Healthcare

Whilst there continues to be plenty of steamy discussion and hot collared dispute over the means by which the ever increasing body of experts actually measure ESG, there is an indisputable momentum behind the push for organisations of all shapes and sizes to get it on the agenda. And get it on fast. Stakeholders demand… Read More Healthcare

Mad Men

The high-octane series Mad Men lit up living rooms with the rich and vivid goings on of 1960s Madison Avenue, and showered the power age of advertising in glamour and a lot of martini. The phrase Mad Men was supposedly a slang term used to describe the tight-suited movers and shakers, Mad being short for… Read More Mad Men

Volatility

As investors prickle and itch and try to weigh up whether the ongoing avalanche of data, anecdotal reports and corporate murmurings portent nothing more than shrug-of-the-shoulders passing of inflationary mist – and the Federal Reserve do indeed have it all under control – it is no surprise to see the tape turn red. The froth… Read More Volatility

Payrolls

Given how dark it got in the dark days of the pandemic when everything all but stopped, it should not be a huge surprise that mutterings of ‘inflation’ on Q1 conference calls a year on, are more of a cacophony of Hairy Maclary and Scarface Claw stuck-up-a-tree type proportions. Use of the word is up… Read More Payrolls

Chips

As economies open up and middle-class consumers, flush with pandemic savings and crypto gains, look for things to buy, it should be a big fat summer for the auto industry. The forecourts should be buzzing. Instead they may soon become increasingly bare. Indeed, Volkswagen is the latest OEM to email their top managers with the… Read More Chips

Employment

There are no bones about it, the US economy is all fizz, bang and pop. The CEO of Goldman Sachs has said as much: “I’d state quite clearly, and I said in the prepared remarks, that we think that we’re going to have very, very robust economic growth in the second half of 2021 into… Read More Employment

Costs

Whilst ‘The Interview’ may have averted attention for a day or two, the market remains fully vexed on the inflation narrative: how high are yields going, and how quickly can portfolios rotate. It has been the fourth worst start for 30yr Treasuries in the past 100 years. And there are good reasons to vex: employment… Read More Costs

Fantasy

Much has been made of the ice-cool testimony of Fed Chief Jerome Powell last week. A nonchalant noting of the current itch in the bond market but a general disinterest in doing any scratching. Yields, post a bumper jobs report, resumed their grind higher. Investors, meanwhile, hold their breath. Don’t fight the Fed says the… Read More Fantasy