Quarterly Perspectives
January 2021
We extend our warmest wishes for 2021 and trust that you and your families are all faring well.
Quarterly Perspectives
October 2020
The Revolution of 1848 resulted in a 70% drop in the price of French stocks and bonds, the largest in French history. However, over the next 10 years the stock market ind ...
Quarterly Perspectives
July 2020
After the fastest 30% decline on record, we have just experienced the strongest calendar quarter since 1998.
Quarterly Perspectives
April 2020
Just a month ago global stocks were near the nadir of probably their fastest decline in history, while credit spreads were pricing in a 2008-max scenario in which 50% of high yield ...
Quarterly Perspectives
January 2020
2019 encompassed a damaging trade war between (but by no means exclusively affecting) the US and China; a pronounced manufacturing slowdown in the US; recessionary conditions in th ...
Quarterly Perspectives
October 2019
Global equities have recovered strongly in 2019 following their 18% peak-to-trough decline in late 2018. Stocks are up some 16% since the start of the year, although the majority o ...