Fleeting Euphoria or Enduring Optimism?
9th December 2020
How long can euphoria last? According to Wall St., quite some time, at least where financial markets are concerned. A combination of unbridled fiscal stimulus and the release of $1.4trln in pent-up savings is reason enough to be ecstatic, for the time being at least. Another way to answer the above question is to look […] more
Macro Update – Recovery Risks
18th November 2020
A notable November has so far given us a newUS president (we expect), a Republican Senate(we think), and a vaccine to end the pandemic(we hope). Market reactions have been suitablyvolatile as the stream of news flow is digested.The net reaction has been a positive one with‘value’ driven equity indices thus faroutperforming on hopes of an […] more
Credit Market Update: Devil in the Detail
21st July 2020
“Following the Fed’s announcements of direct corporate bond and ETF purchases (high yield and investment grade), credit spreads have contracted sharply – over 500bps in the high yield space. With spreads now closer to their long-term average, and significant economic uncertainty remaining, we would posit that the scope for spread tightening is more challenging despite […] more
Macro Update – Crossing the Line
12th April 2020
For the full 15 April 2020 update please click the link below. CLICK HERE TO READ THE FULL ARTICLE For more information please contact Rubrics Asset Management. info@rubricsam.com. more
Macro Update – Bad Plumbing
22nd March 2020
The crisis in which we currently find ourselves is very different to that of 2008. Both the structure of the credit markets, or the plumbing as we like to call it, and the incentives of corporate CEOs issuing debt into those credit markets are very different, and not in a good way. For the last […] more
COVID-19: Implications and Market Outlook
28th February 2020
With fears over the Corona Virus having firmly taken hold, click below for Rubrics’ take on the developing situation as well as our view on the longer term fallout from a market, economic and political standpoint. In addition, included is a positioning summary for each of our strategies with a specific focus on our Global Credit […] more
Financial Markets’ Opioid Crisis
31st December 2019
In 2019, central banks once again managed to moderate recession concerns, allowing risk assets to make new highs as balance sheets resumed expansion. Moving into 2020, will questions about the effectiveness of monetary stimulus over the longer term come back to haunt markets as they did in 2018? Click here to read the full article […] more
Macro Update – Politics of Economics
18th October 2019
For the full Politics of Economics update, please click the link below. CLICK HERE TO READ THE FULL ARTICLE For more information please contact Rubrics Asset Management. info@rubricsam.com. more
Politics of Economics
8th October 2019
Are today’s political institutions fit for purpose? Such has been the level of recent upheaval this might not be as churlish a question as it seems. In order to address it, we must look at the root causes of the current political maelstrom. Click here to read the full article For more information please contact Rubrics Asset […] more
Fear of Fear Itself
23rd September 2019
Casting our minds back to 2016, optimism was rife at the prospect of fiscal stimulus and the knock-on impact on growth and inflation. Bond yields soared. Today that optimism has all but evaporated. Instead, the bond market is reacting to one thing; Fear. Fear of further trade war escalation, Fear of market illiquidity, Fear that […] more
