Founder and Strategist, Entext Economics & Strategy

Sean Maher

Founder and Strategist

Entext Economics & Strategy

Entext provides institutional investors with distinctive, actionable asset allocation and thematic research, which typically challenges the market consensus. Our clients range from credit, equity and multi-asset hedge and pension funds to family offices and sovereign funds. 
 
We focus on identifying key inflection points in macro data and relative asset performance amid the 'groupthink'  and confirmation bias that characterizes most investment bank analysis.

Macro Driven Investment Insight

Macroeconomics

The short China base metals/deep cyclicals stance since December has paid off, with copper slumping to a year low, but there are early signs that the mainland investment cycle will rebound in H2.Indeed, the chronic excess of savings must be absorbed via the banking system by credit/investment growth or a deflationary dynamic takes hold – China remains structurally demand deficient.I’ve moved neutral on industrial metals as the China slowdown and trade war risks now look discounted, while for…

The short China base metals/deep cyclicals stance since December has paid off, with copper slumping to a year low, but there are early signs that the mainland investment cycle will rebound in H2.Indeed, the chronic excess of savings must be absorbed via the banking system by credit/investment growth or a deflationary dynamic takes hold – China remains structurally demand deficient.I’ve moved neutral on industrial metals as the China slowdown and trade war risks now look discounted, while for…

MSCI AC Asia ex Japan Index (MXASJ INDEX)

China Flips Investment Switch Back On...