You're now leaving the Market Thinking website

Please note that you are about to leave the website of Market Thinking and be redirected to Toscafund Hong Kong. For further information, please contact Toscafund Hong Kong.


Insight - Making Sense of the Narrative


We are making a series of posts about our various model portfolios, starting with Global Bonds. The Bond Portfolio shown here is key to what drove our earlier views on not owning bonds at the end of last year

The article below is a slightly extended version of one posted on the Livewire site, that can be found here The Annual Central Banker jamboree at Jackson Hole this weekend is likely to feature the usual set of earnest presentations...

The upcoming 20th Party Congree of the CCP in October is a key event for Global Investors, even if not many people are talking about it right now – and those that are tend to be focusing on the exaggerated prospect that Xi may not be reselected.

With the slow days of August coming to a close, markets are watching nervously for the seasonally volatile month of September, especially around the options expiry on September 16th – there is much embedded muscle memory of painful ends to Q3 over the years – and are starting to adopt a certain ‘back to school’ mentality, where investors are forced to focus on the – not very attractive – fundamentals.

This time last year, in a post entitled ‘Economics by Anecdote’, we noted a number of issues from a trip to Europe, from the high costs of shipping and labour shortages due to Covid to the intrusive bureaucracy around Covid...