Having held up remarkably well during the first full month of the Corona Virus pan(dem)ic, equity and high yield bond markets took a tumble this week as a combination of technical buying of US Treasuries

We said that we needed two things to be happening before engaging with markets over the Corona Virus panic.

On the 4th September last year, the Baltic Dry Index that measures the cost of shipping – and by extension is a good proxy for the demand supply imbalance in global trade – stood at 2518...

FX traders are the ultimate noise traders, using vast leverage and chasing percentage moves that barely touch the real world.

At the start of the year we assumed that the biggest rise in market uncertainty would be due to US politics and that this would begin with the Democratic Primaries.