Recap of Market Events

Happy New Year and welcome to our first daily morning note of calendar year 2021! We hope that you all had a lovely holiday period and are rejuvenated for the year ahead. Our last morning note was published on 18 December, and there have been several significant...

Multi-Asset Allocation in 2021

Today’s daily missive marks our second last publication for the year and the last of our 2021 outlooks, finishing with our multi-asset view. While it’s useful to derive and forecast performance objectives for specific asset classes, it’s...

Macro Currency Outlook 2021

As primarily a fixed income investor, I spend an inordinate amount of time managing foreign currency fluctuations, as currency exchange rates tend to gyrate more than the underlying bond prices. As an example, it doesn’t make sense to buy a USD bond with a 3%...

The COVID-19 vaccine distribution dilemma

The American pharmaceutical firm Pfizer, in collaboration with German firm BioNTech, surprised the world when it announced their coronavirus vaccine showed 90% efficacy in preventing COVID-19. Days later, another American firm, Moderna, announced their vaccine has...