U.S. Equity Strategy: Upgrading Utilities, Downgrading Manufacturing
We continue to view the market as healthy in terms of breadth, although rotations are occurring at the margin which warrant minor tweaks to our...
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US Crude Benchmark WTI Flips into Backwardation – Is It Ready for a Bull Market?
The NYMEX WTI crude futures curve flipped into backwardation this week, breaking a three-year uninterrupted spell of contango. The front two...
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Energy Plays on Cold Winter/$45-55 Oil… What's Breaking Out
Oil has traded to the upper bounds of its expected price range in 2017 – and is higher than pundits expected only a couple of months ago. We can...
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New York and London Battle for Saudi Aramco IPO
Interesting article in the Financial Time (FT) on stock exchanges fighting for Saudi Aramco IPO...
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US Healthcare Overhaul Stumbling, Singapore Cyclical Rally Looking Premature
The Republican replacement for ‘Obamacare’ has been announced and looks an incoherent mess – resurgent healthcare inflation will be a drag on...
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