CEO, CIO, ClearMacro

Mike Simcock

CEO, CIO

Strategic & Tactical Asset Allocation Global Macro

ClearMacro

CIO, & CEO ClearMacro Ltd
An institutional investor with over 25 years experience, laterly having spent 10 years at GIC Singapore SWF. Managng Director, managing Global Macro, FIxed Income (Europe) and Global Credit businesses.
Passionate about utilising technology to enhance portfolio idea generation across global, multi-asset classes and optimisation of the investment process.

Macroeconomics

<header class="entry-header"><h2>Commodity fundamentals – actionable insight from CRB’s Fundamental Database</h2></header>ClearMacro is delighted to announce a collaboration with Barcharts/CRB to derive signals from fundamental commodity supply, production and consumption data.We care about generating actionable market insight from information categories that a sophisticated investor cares about.  Commodity markets require tailored information to help investors generate outlook views across energy, metals, and agricultural markets.We focus…

Commodity fundamentals – actionable insight from CRB’s Fundamental DatabaseClearMacro is delighted to announce a collaboration with Barcharts/CRB to derive signals from fundamental commodity supply, production and consumption data.We care about generating actionable market insight from information categories that a sophisticated investor cares about.  Commodity markets require tailored information to help investors generate outlook views across energy, metals, and agricultural markets.We focus…

Commodities - Is There Any Value Within the Complex?

Asia Pac IPO & Placement Research, China biotech, Aequitas Research

Ke Yan, CFA, FRM

Asia Pac IPO & Placement Research, China biotech

Smartkarma

Smartkarma unites the fragmented investment industry, connecting institutional investors, independent research providers, and corporates within a single network.

Research Reinvented

Equity Capital Markets

<a href="https://www.smartkarma.com/entities/15640" target="_blank" data-smartkarma-citation="entities:15640">Sapurakencana Petroleum Bhd</a> (SAKP MK)'s strategic shareholder, <a href="https://www.smartkarma.com/entities/15294" target="_blank" data-smartkarma-citation="entities:15294">Seadrill Ltd</a> , is placing 490m shares (US$195-208m) after market today. Seadrill, a global leader in offshore drilling, has been a strategic shareholder of SapuraKencana post its restructuring and IPO in 2012. The deal scores poorly in our Smartkarma Placement framework, mainly due to its large volume, negative earning revision, and high leverage. Placement specifics<ul>
<li>Company Name: SapuraKencana Petroleum Bhd</li>
<li>Ticker: SAKP MK Equity</li>
<li>…</li>
</ul>

Sapurakencana Petroleum Bhd (SAKP MK)'s strategic shareholder, Seadrill Ltd , is placing 490m shares (US$195-208m) after market today. Seadrill, a global leader in offshore drilling, has been a strategic shareholder of SapuraKencana post its restructuring and IPO in 2012. The deal scores poorly in our Smartkarma Placement framework, mainly due to its large volume, negative earning revision, and high leverage. Placement specifics
Company Name: SapuraKencana Petroleum Bhd
Ticker: SAKP MK Equity
…


SapuraKencana Placement: SDRL Final Exits with Large Volume.

With bond yields at floor levels with limited policy options to sustain zero or negative interest rates what is the future for fixed income? Is there any value to be found in an area of the fixed income markets? We show that some of the best current risk-adjusted asset allocation opportunities in any global public markets are in fixed income markets and sectors.

With bond yields at floor levels with limited policy options to sustain zero or negative interest rates what is the future for fixed income? Is there any value to be found in an area of the fixed income markets? We show that some of the best current risk-adjusted asset allocation opportunities in any global public markets are in fixed income markets and sectors.  

FX Strategist

Greg Gibbs

Fundamental analysis of topical themes in FX

Amplifying Global FX Capital

Amplifying Global FX Capital was founded in 2015 and is fully owned by Greg Gibbs. It is a registered company both in Australia and Colorado, USA and is a licensed in Australia to provide financial services.

We are producing a regular trading view orientated macroeconomic analysis of topical themes in global financial markets, with a particular focus on foreign exchange. We invite you to view an “executive summary” of these reports in “AmpGFX Reports” under our “Research” menu.

These reports are drawn from the analysis of Greg Gibbs and inform the capital management he undertakes on behalf of the company. The trading performance is posted periodically on our website. We aim to build our company into both a research and capital management business. We are currently in the planning phase for managing capital for wholesale customers.

Greg Gibbs has spent his working life of more than 26 years in financial markets, beginning in 1989 at the Reserve Bank of Australia, after completing a Bachelor of Economics Degree (Honours) at the Australian National University. He has been a CFA Charterholder since 2005. He has worked in Sydney, Singapore, New York and London for major global banks and presented on foreign exchange markets to major financial institutions and companies around the world, and maintained a high profile in the financial media.

Before Amplifying Global FX Capital, Greg was the Head of Asia Pacific Market Strategy at the Royal Bank of Scotland based Singapore. He now resides in Breckenridge Colorado.

S interest rates have fallen significantly this year (-36bp) reducing the USD yield advantage.  This has been matched by the GBP and CAD, but AUD and NZD rates have been much more stable than previous episodes of global risk aversion. The Fed is sticking to its outlook for gradual policy tightening, but weak growth is expected to be reported in Q4, activity indicators are weak heading into 2016, medium and longer term inflation expectations are down sharply, and the only plank left supporting rate hike forecasts is the solid labor market.  However, recent unemployment claims have drifted up, and a considerable pause in US rates appears likely.  The US economy has been dragged back to the pack to some extent by the deep fall in oil prices.  While the US energy sector is not all that large, it is much more cyclical than OPEC countries, and activity in this sector has been a factor slowing the US economy.   We may be moving into a phase where confidence in the US economy is waning.  This may tend to weaken the USD in 2016.  Global risk aversion and weaker commodity prices may also weaken commodity and emerging market currencies, but if perceptions on US monetary policy change enough, even these currencies may recover at some point.

S interest rates have fallen significantly this year (-36bp) reducing the USD yield advantage.  This has been matched by the GBP and CAD, but AUD and NZD rates have been much more stable than previous episodes of global risk aversion. The Fed is sticking to its outlook for gradual policy tightening, but weak growth is expected to be reported in Q4, activity indicators are weak heading into 2016, medium and longer term inflation expectations are down sharply, and the only plank left supporting rate hike forecasts is the solid labor market.  However, recent unemployment claims have drifted up, and a considerable pause in US rates appears likely.  The US economy has been dragged back to the pack to some extent by the deep fall in oil prices.  While the US energy sector is not all that large, it is much more cyclical than OPEC countries, and activity in this sector has been a factor slowing the US economy.   We may be moving into a phase where confidence in the US economy is waning.  This may tend to weaken the USD in 2016.  Global risk aversion and weaker commodity prices may also weaken commodity and emerging market currencies, but if perceptions on US monetary policy change enough, even these currencies may recover at some point.

Public Relations and Social Media Manager, Dechert LLP

Peggy Heffner

Public Relations and Social Media Manager

Dechert is a global specialist law firm

Dechert LLP

Dechert is a global specialist law firm.
Focused on sectors with the greatest complexities, legal intricacies and highest regulatory demands, we excel in delivering practical commercial judgment and deep legal expertise for high-stakes matters.

Our work is widely recognized. We have 20 standout practices noted by Chambers Global, including global-wide rankings for arbitration, corporate investigations, anti-corruption, investment funds and life sciences. Named Antitrust Team of the Year, Chambers USA commends our “accomplished group” as “routinely sought after to handle some of the most significant litigation and transactions in the antitrust world.” 

In an increasingly challenging environment, clients look to us to serve them in ways that are faster, sharper and leaner without compromising excellence. We developed a first-of-its kind legal project management department, which uses technology, people and processes to drive efficiency and deliver value for our clients.

We are innovators. Dechert ranked #7 in the Financial Times’ Top North American Innovative Law Firms. Financial Times also recognizes us among the Top European Innovative Law Firms and highly commends World Compass, our marketing compliance service, which offers investment firms advice in more than 100 jurisdictions.

Thematic (Sector/Industry)

On Saturday, 16 January 2016, the International Atomic Energy Association (IAEA) submitted a report to the United Nations Security Council (UNSC) certifying that Iran has satisfied its obligations under the Joint Comprehensive Plan of Action (JCPOA), the agreement reached in July 2015 among Iran, the United States, China, Russia, the United Kingdom, Germany and France.1As a result, 16 January 2016 is “Implementation Day” under the JCPOA, triggering the easing of certain sanctions against Iran by the United States, European Union and United Nations Security Council.The sanctions relief creates a significant asymmetry between U.S. and non-U.S. persons in dealings with Iran: U.S. sanctions continue to prohibit U.S. nationals and companies from most Iranian activities (though non-U.S. subsidiaries of U.S. companies now are authorized to engage in most activities with Iran), while EU (and other non-U.S.) persons are now affected only by vastly reduced prohibitions and are largely (but not entirely) free from the threat of “secondary” U.S. sanctions.Below we summarize the timing and scope of the sanctions relief which now comes into effect. We will publish more detailed guidance in the coming days.

On Saturday, 16 January 2016, the International Atomic Energy Association (IAEA) submitted a report to the United Nations Security Council (UNSC) certifying that Iran has satisfied its obligations under the Joint Comprehensive Plan of Action (JCPOA), the agreement reached in July 2015 among Iran, the United States, China, Russia, the United Kingdom, Germany and France.1As a result, 16 January 2016 is “Implementation Day” under the JCPOA, triggering the easing of certain sanctions against Iran by the United States, European Union and United Nations Security Council.The sanctions relief creates a significant asymmetry between U.S. and non-U.S. persons in dealings with Iran: U.S. sanctions continue to prohibit U.S. nationals and companies from most Iranian activities (though non-U.S. subsidiaries of U.S. companies now are authorized to engage in most activities with Iran), while EU (and other non-U.S.) persons are now affected only by vastly reduced prohibitions and are largely (but not entirely) free from the threat of “secondary” U.S. sanctions.Below we summarize the timing and scope of the sanctions relief which now comes into effect. We will publish more detailed guidance in the coming days.

Implementation Day: Iran Sanctions Eased Today

United States

Helmerich & Payne, Inc. provides contract drilling of oil and gas wells in the Gulf of Mexico and South America. The Company operates land rigs and platform rigs.

Patterson-UTI Energy, Inc. provides land-based drilling services to major and independent oil and natural gas companies.  The Company conducts drilling operations in Texas, New Mexico, Utah, Oklahoma, Louisiana, and western Canada. Patterson-UTI is also involved in pressure pumping, oil and gas exploration and production, and drilling and completion fluids services.

Archrock, Inc. operates as a natural gas contract compression services company. The Company offers natural gas compression and aftermarket services, as well as provides used equipment for oil and gas industry. Archrock serves customers in the United States.

Cactus, Inc. manufactures control equipment. The Company offers wellhead systems, valves, and flow control products. Cactus markets its products worldwide.

Liberty Oilfield Services Inc. operates as an oilfield service company. The Company specializes in hydraulic fracturing, stimulation, and engineering services. Liberty Oilfield Services serves customers throughout the United States.

Oceaneering International, Inc. is a global provider of engineered services and products to the offshore oil and gas industry. The Company offers services and products in remotely operated vehicles, mobile offshore production systems, engineering and product management, manned diving and other deep water applications. Oceaneering also serves the defense and aerospace industries.

Expro Group Holdings N.V. operates as a holding company. The Company, through its subsidiaries, provides engineered tubular services to exploration and production companies in both offshore and onshore environments, with a focus on complex and technically demanding wells. Expro Group Holdings serves customers worldwide.

Nextier Oilfield Solutions Inc. provides oilfield services. The Company offers drilling and other related solutions such as developing, delivering, management, and engineering activities. Nextier Oilfield Solutions serves customers  in the United States.

USA Compression Partners, LP provides compression services. The Company engineers, designs, operates, services, and repairs its compression units, as well as maintains related support inventory and equipment. USA Compression Partners serves customers in the United States.

Helix Energy Solutions Group Inc. is a marine contractor and operator of offshore oil and gas properties and production facilities.  The Company seeks to align the interests of the producer and contractor by investing in mature offshore oil and gas properties, hub production facilities, and undeveloped reserve plays.

China Oilfield Services Limited provides oilfield services. The Company provides geophysical prospecting, drilling, oilfield technology development, and other services. China Oilfield Services also operates transportation businesses.

Offshore Oil Engineering Co., Ltd. provides offshore oil engineering services, including designing, construction, installation, and repair and maintenance services.  The Company's main businesses include oil/gas exploration engineering, subsea pipeline laying, oil/gas field equipment testing and maintenance, as well as pressure container and steel structure manufacturing.

Transocean Ltd. is an offshore drilling contractor.  The Company owns or operates mobile offshore drilling units, inland drilling barges, and other assets utilized in the support of offshore drilling activities worldwide. Transocean specializes in technically demanding segments of the offshore drilling business, including deepwater and harsh environment drilling services.

Vallourec provides tubular solutions. The Company offers tubes and other related components. Vallourec serves refineries, hydraulic cylinders, machine tools, automobiles, construction, and oil and gas industries worldwide.

Yantai Jereh Oilfield Services Group Co., Ltd develops, manufactures and sells oil field equipment.  The Company's products include well cementing equipment, well fracturing equipment, and natural gas compression and transportation equipment.

Zhongyuan Special Steel Company Ltd. produces forgings for equipment manufacturers.  The Company manufactures oil drilling tools, cast iron pipe, rollers, and die steel.

Zhongyuan Special Steel Co,Ltd. (002423 CH)

SBM Offshore NV, through subsidiaries, offers services to the offshore oil and gas industry worldwide.  The Company supplies and installs floating production and/or storage facilities and terminals for the loading or unloading of tankers.  SBM offers, on long-term lease, floating facilities for the production, storage, and export of crude oil and gas.

Aker Solutions ASA provides products, systems, and services to oil and gas companies. The Company offers subsea production equipment and offshore field design to oil and gas companies globally.

TGS Nopec Geophysical Company ASA offers geophysical consulting and contracting services.  The Company also collects and processes magnetic and gravitational data.  TGS focuses on planning, collection, processing, and sale of marine seismic data.  The Company's customers are international oil and exploration companies.

WorleyParsons Limited provides professional services through alliance and integrated service contracts to the energy, resource and complex process industries.  The Company provides its services to industrial sectors such as oil and gas refining, petrochemicals and chemicals, minerals and metals, power and water and industrial and infrastructure.

Seadrill Limited operates as an oil and gas field service company. The Company offers drilling contracting services to unlock oil and gas resources for clients across harsh and benign locations. Seadrill serves customers worldwide.

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Seadrill (SDRL US)

Commodities - Is There Any Value Within the Complex?

Commodity fundamentals – actionable insight from CRB’s Fundamental DatabaseClearMacro is delighted to announce a collaboration with Barcharts/CRB...

ClearMacro

SapuraKencana Placement: SDRL Final Exits with Large Volume.

Sapurakencana Petroleum Bhd (SAKP MK)'s strategic shareholder, Seadrill Ltd , is placing 490m shares (US$195-208m) after market today. Seadrill, a...

Ke Yan, CFA, FRM

Does Fixed Income Have a Future?

With bond yields at floor levels with limited policy options to sustain zero or negative interest rates what is the future for fixed income? Is...

ClearMacro

Confidence in Fed Hikes Waning

S interest rates have fallen significantly this year (-36bp) reducing the USD yield advantage. This has been matched by the GBP and CAD, but AUD...

Greg Gibbs

Implementation Day: Iran Sanctions Eased Today

On Saturday, 16 January 2016, the International Atomic Energy Association (IAEA) submitted a report to the United Nations Security Council (UNSC)...

Dechert LLP

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