June 2019 Cryptocurrency Update

"The value traded in Bitcoin in 2019 has far surpassed the levels seen at the peak, in late 2017. Yet strangely, the rally in 2019 seems to lack the hype and hysteria seen previously."

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May 2019 Are Macro Markets Saying That Implied Volatility is Too Low?

"Even before contemplating US – China relations, or problems in the Eurozone, markets are sending signals that market prices of volatility are too low and about to move higher."

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May 2019 Japan market view summary - April 2019

"Japan is unique in the scale of the demographic head-winds faced by certain sectors. These head-winds can over-power the economic tail-winds that are felt by most other global companies late in the credit cycle."

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February 2019 A Potted History of Korean Finance

"Korea has a compelling record of being a large player in many of the big market blow ups of the last two decades. This of course begs the question, what are the Koreans involved in now?"

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February 2019 The Difference Between 2015-16 and Now

"In 2015-16 various signals gave a mixed message on market outlooks, but short positioning increased substantially. This meant the market rallied substantially when recession was avoided. In 2018-19, the bearish signals are much clearer, but markets have not positioned themselves bearishly."

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