FX Markets Update Can anything reverse the yen’s fortunes? While the weakness of the yen remains a puzzle, we still expect the currency to rebound by the end of next year. Our end-2027 forecast for USD/JPY is 150, which compares to a current rate of ~162. 15th July 2026 · 5 mins read
Capital Daily What China’s GDP “miss” means for its markets China’s weaker-than-expected Q2 GDP isn’t reason, in our view, to throw in the towel on its markets: we remain fairly positive on the country’s equities, bonds, and currency. 15th July 2026 · 4 mins read
Capital Daily One soft CPI print unlikely to derail rate hike narrative Despite some better news on US inflation, we continue to think the FOMC will raise the fed funds rate later this year. In turn, that points to a flatter US yield curve and a stronger US dollar. 14th July 2026 · 4 mins read
Capital Daily US dollar wins again, and Chinese tech stocks’ woes The US dollar is still a beneficiary from US-Iran hostilities, but it won’t necessarily fare as well as it did earlier this year even if the situation worsens. Meanwhile, Chinese tech stocks could... 13th July 2026 · 5 mins read
Latin America Economics Update Argentina’s rebalancing: progress, but more to be done Argentina’s rebalancing process has entered a more challenging phase and the government now faces the tricky trade-off between maintaining a strong exchange rate to bring down inflation or loosening... 9th July 2026 · 4 mins read
Capital Daily Payrolls disappointment unlikely to prevent higher US rates A softer US non-farm payrolls report pours a bit of cold water on the idea that the US economy is overheating. However, we continue to think that the FOMC will stick to its hawkish stance, and that... 2nd July 2026 · 4 mins read
Asset Allocation Chart Pack Interactive Markets Chart Pack We have updated our Interactive Markets Chart Pack with our views on the latest developments in global markets, and how we expect them to perform over the coming years. Note: This Chart Pack is... 1st July 2026 · 1 min read
Capital Daily What to make of the never-ending “yentervention” cycle With the USD/JPY rate edging its way through another “line in the sand”, a further round of intervention from the Japanese authorities may well be in the offing. As the past few years have... 30th June 2026 · 5 mins read
Africa Chart Pack Africa Chart Pack (Jun. 26) The US-Iran deal has triggered a slump in energy prices providing relief to Africa’s energy importers, particularly those in East Africa. Energy exporters such as Angola and Nigeria will see their... 30th June 2026 · 0 mins read
India Chart Pack India Chart Pack (June 2026) The energy shock has weighed on India’s economy but GDP growth should still average 6.5% in 2026-27, an enviable rate by global standards. Rainfall in the early stages of the monsoon has been weak... 30th June 2026 · 1 min read
Europe Economics Update Euro to weaken further against the US dollar Moves in relative interest rates have contributed to the euro weakening against the US dollar since early May. We think that it will fall to around $1.10 by the end of the year as the Fed hikes twice... 30th June 2026 · 3 mins read
Africa Economic Outlook Growth to strengthen even as fiscal strains linger Growth in Sub-Saharan Africa is likely to accelerate over the coming years and most of our growth forecasts lie above the consensus. At the same time, the backdrop of low inflation (by the region’s... 29th June 2026 · 19 mins read
Capital Daily Bunds could leave Treasuries behind We expect the Treasury rally to run out of steam but think bunds could gain further, weighing on the euro. The yen may eventually fare better, though. 29th June 2026 · 5 mins read
Capital Daily US dollar rally has further to run despite inflation peaking After a sharp rise in the wake of last week’s FOMC meeting, the US dollar has dropped back a little today and may be due a pause in the very near term. But we think that the emerging monetary policy... 25th June 2026 · 4 mins read
Asset Allocation Outlook The AI equity boom reaching its final innings We think the AI rally is approaching its last stage, but is probably not quite over yet. Accordingly, we expect the tech-heavy equity markets, such as those in the US, Korea, and Taiwan, to continue... 25th June 2026 · 30 mins read
India Economic Outlook RBI will need to hike interest rates before long The energy shock has taken a toll on India’s economy but GDP growth should still average around 6.5% in 2026-27, an enviable rate by global standards. Rising food prices on account of a weak monsoon... 23rd June 2026 · 16 mins read
