Founder & Head of Research, Fortress Hill Advisors

Alex Ng

Alex Ng is the founder and head of research of the economic and investment research house Fortress Hill Advisors. Prior to founding Fortress Hill Advisors, he worked as an economic research analyst across government, academic, and financial institutes including the Hong Kong Financial Secretary’s Office (Office of the Government Economist), Economic Research Center of the Institute of Asia-Pacific Studies at CUHK, and State Street Global Markets. Alex holds a Master of Arts in Economics degree from Columbia University in the City of New York and a Bachelor of Arts in Economics and Mathematics from Wesleyan University (CT, USA).

Our firm's expertise lies in macroeconomics, global macro,  global thematic research, company and equity research, multi-asset strategy, event driven, and ESG.

We also do proprietary trading on the firm's capital, to try to vindicate our investment thesis. Our flagship publication, Heard from Fortress Hill (HFFH) provides our weekly market observations and is freely available on our website: https://fortresshill-advisors.com/hffh/

Founder & Head of Research

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Fortress Hill Advisors

Founded in Hong Kong in 2019, Fortress Hill Advisor seeks to provide premium economic and financial researches.

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Macroeconomics

<ul>
<li>We forecast 2yr U.S. Treasury yields to fall gradually by end 2025 to 3.25%, as a more neutral Fed Funds era is discounted.  </li>
<li>10yr yield's ability to decline on a soft landing is more difficult, given high net supply facing the market. </li>
<li>We also remain concerned that the U.S. will see some temporary fiscal stress in H1 2025 under either president. </li>
</ul>


We forecast 2yr U.S. Treasury yields to fall gradually by end 2025 to 3.25%, as a more neutral Fed Funds era is discounted.  
10yr yield's ability to decline on a soft landing is more difficult, given high net supply facing the market. 
We also remain concerned that the U.S. will see some temporary fiscal stress in H1 2025 under either president. 


Fed Decision, H1 2025 Fiscal Tensions, and Yield Curve Steepening