Renowned for its role as a hedge against economic uncertainty and inflation, gold has long captivated investors. One key factor influencing gold’s price is the relationship between real yields and inflation. Over the long term, gold has protected one against the pernicious effects of inflation and remains a powerful diversifier within an investment portfolio:

Javier Milei, Argentina’s newly elected president, shares similarities with Roosevelt in that he has inherited, to put it mildly, a struggling economy, and has begun attempting to implement reforms in very quick order.

What’s more, if you’d taken a 12 month sabbatical through 2023, spent on a desert island listening to the Smiths and the Velvet Underground, then upon firing up your Bloomberg on New Year’s Day, what would be most surprising of all, is that none of this uncertainty is visible in markets.

Every year, the largest banks, asset managers and consulting firms publish their economic and market outlooks for the following year, highlighting key topics, trends, opportunities and areas of concerns. For the first time, we have used ChatGPT to skim-read through and summarize 48 of these outlook presentations and built a database, containing the various opinions expressed in the the areas that are traditionally of interest to our clients and us.

Demographic changes are set to have a significant impact on the world economy in the coming decades, as we have discussed on a number of occasions.

Economic momentum and growth supportive policies underpin Japan’s renaissance

Governments have traditionally argued that as long as debt remains manageable and serviceable without difficulty, there’s little cause for concern. While this notion holds some truth, the reality is that recent growth has largely been fueled by an insurmountable increase in debt.

An uptick in some prices could mean higher rates for longer

Has the ECB just delivered its final rate hike of the cycle?

Central banks set to kick off easing cycles as inflation cools