Is the United States Likely to Enter a Period of Stagflation?
No. While inflation could continue to run hotter than central banks expect, the US employment situation is improving, and economic growth is unlikely to stagnate.
November 2021
Does a Dovish Fed Doom the US Dollar?
No, we do not think Federal Reserve rate cuts signal a major downturn in the US dollar.
August 2019
Cryptoassets: Venture into the Unknown
The dramatic declines that swept across the crypto space raised questions about the future of these assets and the blockchain technology that underpins them. Yet, in looking across the investment landscape, we see an industry that is developing, not faltering. In this paper, we review recent developments in the industry, highlight our views of the various investment strategies, and discuss a few considerations for investors exploring the space.
February 2019
Should Institutional Investors Hold Cryptocurrencies?
In our opinion, institutional investors are better served focusing on investing in companies seeking to profit from the development and adoption of blockchain technology and “fintech” more broadly than holding cryptocurrencies directly.
November 2017
Cryptocurrencies: Boom or Bubble?
Institutional investors should very carefully consider the risks of cryptocurrencies before investing.
October 2017
Is the US Dollar Dead?
We are not ready to pronounce the strong dollar cycle dead, but do admit the US dollar is in critical condition. Investors should remain partially unhedged or prepared to ride out a period of currency volatility. It’s been a cruel summer for the US dollar. The DXY currency index has given up all its gains […]
August 2017
What’s Next for the US Dollar?
We still expect a rising US dollar over the coming year or so; however, the currency is entering the final phase of the strong-dollar cycle and investors should be aware that valuations and historical cycles suggest USD weakness over the coming decade. After weakening for most of 2016, the US dollar sprang back to life […]
March 2017