“Beware the ides of March,” said the soothsayer in Shakespeare’s Julius Caesar. Caesar would have done well to heed this warning: he was assassinated soon after in mid-March of 44 BCE. The ides of March 2023 deserved its own omen as the “no-landing” sentiment prevailing at the end of February gave way to no less than three US bank failures and the emergency rescue of Swiss banking icon, Credit Suisse.
In our monthly podcast, ‘Markets in a Nutshell’, Linda Eedes discusses what’s happened in global markets and economies over the past month, how we see things playing out and how Foord is positioned as a result.
It is imperative to consider macro economics and the potential risks we face as investors. In this video, Linda Eedes highlights four economic risks we are concerned about for 2023.
In early February, the US Federal Reserve announced its eighth interest rate hike this cycle. The smaller 25bps increase takes the federal funds rate to 4.75%. With headline inflation slowing, investors were quick to cheer an imminent peak of the interest rate cycle. There was early speculation that the Fed might after all pull off a soft economic landing — or even a fairy tale ‘no landing’.
Exploiting the Disconnect - Foord’s China Experience
Portfolio Managers, Brian Arcese and J.C Xue discuss Foord's market-contrarian position on China and how this
has panned out well in recent months. We believe there is a feasible runway ahead for additional returns.
The Fed vs the Market. Who Will be Proved Right in 2023?
Linda Eedes talks to portfolio manager Rashaad Tayob about the Fed and the market being at odds with one another. The Fed believes it will be able to maintain rates at a high level for a long period of time. The market is seeing rate cuts by the end of the year. Rashaad discusses this gap between the Fed and market expectations.
On 22 January, Foord Singapore ushered in Chinese New Year as the Year of the Tiger gave way to the Year of the Rabbit. Traditionally, the tiger embodies courage, strength and resilience — as it turned out, all qualities investors needed in abundance to survive the turbulent markets of 2022. In contrast, the rabbit is a symbol of longevity, peace and prosperity.
