Capital Daily Surge in Treasury yields looks overdone The surge in Treasury yields this week looks slightly overdone to us and we think that a 50bp hike at the December meeting is unlikely. So, we expect some of this move to unwind before long and... 13th November 2026 · 3 mins read
Capital Daily AI trade Huang out to dry? News that Nvidia’s CEO Jensen Huang is leaving the company adds to the ongoing uncertainty around the AI equity boom. While it seems improbable that the departure of one person will, by itself... 12th November 2026 · 4 mins read
Japan Chart Pack Japan Chart Pack (Nov. 2026) Our Japan Chart Pack has been updated with the latest data and our analysis of recent developments. Japan is benefitting much less than most other Asian economies from soaring AI-related demand. But... 12th November 2026 · 1 min read
Capital Daily Dollar may rally further this year, but struggle in 2027 The US dollar has rallied to its strongest level in more than a year and half, and it may well remain on the front foot in the near term. But we are becoming more cautious about the outlook for the... 11th November 2026 · 4 mins read
Capital Daily What to make of today's CPI-driven rout in Treasuries Today’s slump in Treasuries in the wake of another hot US consumer price report is hardly surprising. But while the pressure on government bonds might continue in the near term, we doubt it will last. 10th November 2026 · 4 mins read
FX Markets Focus A bigger AI bust would mean a weaker US dollar We think the US dollar would fall further against most major currencies if AI-related equities’ recent troubles continued. 9th November 2026 · 13 mins read
Capital Daily The worst may be yet to come for AI stocks The AI correction in equities could have much further to run. 9th November 2026 · 5 mins read
US Economics Weekly Midterm results trigger concerns over AI rollout The Democrat sweep in this week's midterm elections has clearly alerted financial markets to the risk of a slowdown in data centre development and the AI buildout more broadly. While the underlying... 6th November 2026 · 5 mins read
Capital Daily A strong labour market may not save the S&P 500 It’s tempting to think that continued strength in the labour market in the US would cushion any further downside in the S&P 500. But that would hinge on whether it prompted the Fed to tighten policy... 6th November 2026 · 5 mins read
Europe Chart Pack Europe Chart Pack (November 2026) The euro-zone economy slowed a little in Q3 and is likely to continue growing at a sluggish pace in Q4. The core economies are weaker than much of the “periphery” with France in a mild recession and... 6th November 2026 · 0 mins read
India Economics Weekly Sensex surges amid global equity rout In stark contrast to elsewhere, it has been a very good week for Indian equities, which have rallied by 7% to take the Sensex to its highest since February. This reinforces our view that India's... 6th November 2026 · 3 mins read
Asia Economics Update AI investment, not equities, key for Korea & Taiwan outlook Sharp falls in equities in Korea and Taiwan will not in themselves have a big impact on either economy. Evidence that global tech firms were scaling back investment plans would be of much greater... 6th November 2026 · 3 mins read
Global Economics Focus How sustainable is the AI investment boom? We remain positive about the potential for AI to boost productivity but are less confident that AI revenues will grow rapidly enough to sustain the current pace of investment. While it is difficult to... 6th November 2026 · 22 mins read
Equities Update 2000 redux in the US stock market? Whether the US stock market’s performance remains reminiscent of its fate after the dotcom bubble burst will depend not only on whether a bigger AI bust is in the making but also on whether one is... 6th November 2026 · 5 mins read
Capital Daily AI boom runs into US politics buzzsaw Growing fears about the sustainability of the AI buildout in the context of the major shift in US politics have led to another bruising day for tech stocks. Whether the mid-terms shock turns out to be... 5th November 2026 · 4 mins read
Capital Daily Three key points on the blue tsunami & US markets While the equity market has, in aggregate, reacted positively to the US mid-term election results, the extraordinary gains for the Democratic party poses another potential headwind to the AI trade... 4th November 2026 · 5 mins read
