by Thomas Aubrey | Aug 27, 2015 | Uncategorized
The oasis of calm that investors have become addicted to since the advent of quantitative easing has been rudely interrupted. Between July 20th and August 25th, the S&P Composite fell by more than 12% , triggered by the drop in the Shanghai stock exchange of...
by Thomas Aubrey | Jun 25, 2015 | Uncategorized
The Reserve Bank of India cut the policy repo rate by another 0.25% on June 2 to 7.25%. The market reaction sent the SENSEX index of Indian equities down by 660 points – nearly two and a half per cent. Bank governor Raghuram Rajan commented that he remained...
by Thomas Aubrey | Dec 17, 2014 | Uncategorized
The variability of emerging market performance implies that asset allocation be best approached from a country perspective. An analysis of the ex post Wicksellian Differentials and ex ante signals of BRIC countries highlights continuing diverging trends with the...
by Thomas Aubrey | Dec 17, 2014 | Uncategorized
The rate of profit growth appears to have stalled in the United States resulting in declining equity valuations. However, the extent of the cumulative credit process in this credit cycle implies a much lower level of asset correlation than in previous cycles. The...
by Thomas Aubrey | Oct 7, 2014 | Uncategorized
The cumulative Wicksellian process that has been developing since 2009 has led to an increase in demand for more timely credit cycle signals. As a result Credit Capital Advisory has now launched its ex ante signals which update on a quarterly basis, a month before...
by Thomas Aubrey | Sep 4, 2014 | Uncategorized
The equilibrium rate of interest in the history of economics has been a surprisingly controversial topic. In a brilliant essay [from 1979] the Swedish economist Leijonhufvud stated that “the theory of the interest rate mechanism is the center of the confusion in...
