Japan: The Winner from This Year's Spurt of Inflation
13 months ago, Japan was attractive as inflation had returned but wages had not started rising, but were eventually expected to. Now a wage...
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Portfolio Watch: Steep, Steeper, Steepest!
What a week in global fixed income! We thankfully rotated out of bonds and into cyclical exposures in steepeners, commodities, energy and...
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Japan Watch: The pros and cons for Ueda
The JPY market is one big roller-coaster at the moment as the market constantly tries to sniff out potential clues on when the Bank of Japan will...
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The Market Leaders Hiding in Plain Sight
The long-term structure of global markets is seeing a loss of leadership by U.S. equities and emerging new leadership in Europe.
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GMO Q2 2022 Quarterly Letter
Equity investors in countries with overvalued currencies have two ways to lose and those with undervalued currencies have two ways to win. Today’s...
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