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

US Political Backdrop Keeps Economy Range Bound Despite Dovish Fed Pivot

US Treasury Market Questions Fed's Prospective Policy Path

Supportive Backdrop for US Equities, but the Events of 2000 Pose a Warning Against Complacency

Aggressive Start to Fed Policy Easing Cycle Aimed at Reducing Stress at Low Income Consumers?

Fortress Hill Advisors

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

Premium Economic & Investment Research

Cross Asset Strategy

<ul>
<li>Post-Election U.S. fiscal policy can still cause stress in the Treasury market given the unsustainable U.S. budget deficit and the high risk of a rating agency downgrade in H1 2025. </li>
<li>However, 10yr U.S. Treasury yields above 4% now have a buffer and the prospect for Fed policy is also important. </li>
<li>If the economy remains resilient then post-election fiscal stress could push 10yr to 4.5% yields, but if the soft v hard landing debate reignites then Treasuries could be dominated.</li>
</ul>


Post-Election U.S. fiscal policy can still cause stress in the Treasury market given the unsustainable U.S. budget deficit and the high risk of a rating agency downgrade in H1 2025. 
However, 10yr U.S. Treasury yields above 4% now have a buffer and the prospect for Fed policy is also important. 
If the economy remains resilient then post-election fiscal stress could push 10yr to 4.5% yields, but if the soft v hard landing debate reignites then Treasuries could be dominated.


U.S. Government Debt and Deficit––– Does It Matter?