◀ The Principal Blog

Short and Sharp: The U.S. dollar watches the West Wing



Bond and equity markets have (so far) brushed off the political dramas unfolding in Washington. For the U.S. dollar, on the other hand, it’s a different story. Since the beginning of this year, the trade-weighted dollar has dropped around 10%. For an administration that said that “Our companies…

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Where to find strategic relative value in Q3



As I look at the macro environment in the third quarter, I see a coasting global recovery of solid stable growth. Subdued inflationary pressures mean that monetary policy will be tightened only gradually, and this will support risk taking. In the current environment, I prefer equities over fixed…

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