Tyrus Capital

Our strategy #macro and #convertible report is now publicly available. It is with traditional publication lag so no discussion about the carry trade reversal 😅 (as usual a bit too much drama 🤔 ). Still the rest is pretty up-do-date and will cover: - Why our base case of no imminent #recession in the US still makes sense, remembering that each region is at a different stage in the cycle - Why macroeconomics treads water ahead of #rate cuts, with a soft landing supportive for equities, and the US election adding another layer of uncertainties. - Why we think that while European macroeconomics are improving but lack the needed monetary/fiscal support to be a buy (for now). - Why we think Asia will continue to provide decorrelation with the rest of the world. - Why we recommend broadening the equity buy list as the asset class marches on and include mid/large-caps given the earnings outlook. Enjoy and see you in September, 😎

In spite of a roaring primary market this week, the team just published our latest #macro Strategy Report, titled "I Don’t Want to Miss A Thing”. (and especially #BABA 🚀 ) In this report we explore key topics such as:   - Why #Stagflation’s last phase is here: Stabilisation - we should be happy, we made it without a global recession!   - Why inflation lags are still at play and have led the Fed to revert to its “higher for longer” mantra, but noting that we still expect cuts this year.   - Why economic lags are also still at work and will shape key activities such as consumer spending going forward.   - Why the Stabilisation phase makes for clearer skies for earnings, which should now drive the market.   - Why valuations make allocators’ jobs challenging as does the struggle to find sources of decorrelation in portfolios.   - Why #convertiblebonds continue to enjoy a revival, offering a way to participate in the catch-up of mid/large caps in the US, with the benefit of downside protection. Have a good week-end! 😎