Cross-Asset Strategist & Quantitative Analyst, Pennock Idea Hub

Cam Hui

Cam Hui has been professionally involved in the financial markets since 1985 in a variety of roles, both as a quantitative equity portfolio manager and as a sell-side analyst. He graduated with a degree in Computer Science from the University of British Columbia in 1980 and obtained his CFA Charter in 1989.

Cross-Asset Strategist & Quantitative Analyst

Global Liquidity Will Be Hit By Sell-Off in Treasuries

The Eventual Shift in Fed Policy: When & By How Much?

Further Declines in DXY, Sovereign Yields May Provide More Fuel for a Rally in Global Equities

Pennock Idea Hub

We are creators of independent equity research. The Pennock Idea Hub team are veterans of the investment industry. Much of our team has spent their careers at Merrill Lynch, Deutsche Bank, RBC Capital Markets and Wood Gundy. We have taken every aspect of research back to the studs and returned to first principles. The Pennock Idea Hub marries the interests of the sell and buy side. 

We offer the best research for institutional investors by:

-Only publishing research from veteran analysts
-Eliminate the inherent conflicts of the traditional sell and buy side relationship
-Ensure our team is always accessible; collaboration with clients nurtures our collective success

Cross-Asset & Quantitative Research

Cross Asset Strategy

<ul>
<li>The financial markets have taken a risk-off tone as bond yields rose against a backdrop of better news on inflation and employment, and expectations that the Fed has finished hiking.</li>
<li>If the nominal Fed Funds rate stays steady and inflation falls, this will induce higher real rates, excessively tight monetary conditions and eventually a pivot toward easing.</li>
<li>We believe the market is at or near the point of maximum pain and investors should be prepared for a FOMO scramble for bonds and risky assets.</li>
</ul>


The financial markets have taken a risk-off tone as bond yields rose against a backdrop of better news on inflation and employment, and expectations that the Fed has finished hiking.
If the nominal Fed Funds rate stays steady and inflation falls, this will induce higher real rates, excessively tight monetary conditions and eventually a pivot toward easing.
We believe the market is at or near the point of maximum pain and investors should be prepared for a FOMO scramble for bonds and risky assets.


Term Premium and Real Rates: Drivers of Risk Appetite