Major US media reports are warning of a depletion of the country’s military stockpile, especially advanced defensive interceptors and long-range precision missiles, following the prolonged conflict with Iran. Ukraine, for its part, is suffering large-scale Russian aerial attacks on an almost daily basis and a lack of high-end interceptors leaves it highly vulnerable to ballistic […]
Sometimes the scoreline lies. Yesterday’s Serie A clash between Cagliari and Inter ended in a narrow, almost respectable 1-0 defeat for my beloved team. The kind of result that, taken at face value, suggests a tight, competitive affair. Dig into the underlying numbers, however, and a far less flattering picture emerges: 31 shots, 7 on […]
Last week, in Sticky Rates Despite Slippery Growth, we flagged a puzzle: US data was turning noticeably gentler (weak July payrolls print, in-line and reassuring CPI, and a surprise drop in July retail sales), yet the 10y Treasury yield refused to budge from its highs. If anything, the picture has grown more stubborn since. The […]
Three weeks ago, in Beware of Certainties (27 July), we flagged how hard it had become to hold tactical convictions on rates, with investors pricing in two Fed hikes before year-end on the back of persistent inflation concerns with hardly anyone contemplating a hard landing. Since then, the data flow has told a more nuanced […]
The second-quarter US GDP print looked, at first glance, like a disappointment: growth came in at just +1.5% annualized. But headline numbers can be poor storytellers. Strip out the noise, and the US economy is not slowing… It is accelerating where it matters most. US Q2 advanced GDP breakdown: stronger than suggested by the headline […]
In financial markets, as in society at large, AI is the current buzzword. Its promises are certainly huge and its impacts on company business models already starting to materialise across a number of sectors. What of life sciences? Could AI accelerate the drug discovery process or are the days of real-world laboratory experimenting far from […]
It’s currently hard to hold tactical convictions on markets, given the many uncertainties related to (1) the gyrations of the US-Iran war, which influence the trajectory of energy prices and, by ripple effect, the stance of monetary policy, and (2) the AI theme dominating headlines, driving dispersion within the IT sector and concentrating risk. In […]
Private credit is booming – and under fire. DECALIA’s private credit lead Reji Vettasseri tells finews why the criticism of the asset class is part exaggeration, part opportunity – and why his third fund should be as big on day one as his first was at its close.
No flash of genius from the Messi(ah) or miracle for the wrestlers of the Albiceleste, who logically go down, but painfully, against La Roja. A deadly, dull match where the only real spectacle was the surreal, American-style halftime show… In the meantime, bombings, retaliation, offensive attacks and blockade have resumed in the Strait of Hormuz […]
