In our April performance report we look back on an impressive market rally, continuing the bounce that started on March 24th. The Singularity Index outperformed its benchmark, the MSCI AC World Index, and gained +11.9%.

We also reflect on the rather gloomy global GDP predictions, put the strong comeback of the stock markets into perspective, map out possible scenarios following a gradual reopening of economies back to pre-crisis conditions, and analyze what’s priced in.

Please find the full report here.

TSF Factsheet APR 2020 EN

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Whither US Treasuries?

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US growth dynamics remain stronger than many expected. The Federal Reserve seem hell bent on cutting rates but are getting cold comfort from recent data releases, however they attempt to spin it. Recent “off-message” comments from Fed officials underline that risk. If we continue in this vein, expect US rates to ratchet higher and bonds to remain vulnerable. Read more →

Thoughts From The Divide: Collateral Damage – May 31 2024 – MI2 Partners

BY JON WEBB
If this week’s title sends a small shiver down your spine, you may be in the Real Estate/lending business. Sadly, there doesn’t appear to be any quick or easy cures, which is perhaps unsurprising as the hits keep coming. Bank OZK is the latest example, getting slammed after a Citi analyst noted “substantial concerns” over the company’s “largest individual loan… and Life Science construction lending in general”. Some might think the residential side is also showing some cracks, with pending home sales slumping to the “lowest level since the start of the pandemic”, and with an increasing number of listings opting to cut prices. The latter metric might itself be muted by the number of listings getting pulled… Cheery stuff! Read more →

C8 Weekly Bulletin: US Debt Limit Dynamics

BY SCOTT DOUGLASS
Gauging the Impact of US Debt Limit Dynamics Read more →
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