2012 Markets top out in first quarter PDF
September Outlook uncertain after summer of discontent PDF
April Risk re-enters the market PDF
2011 Confidence growing but risks remain PDF
Q3 Reflation the watchword for 2011 PDF
Q2 Pace of growth to slow but no double-dip PDF
2010 The year of recovery PDF
Q4 “Growth softens, but markets poised for next leg up” PDF
Q3 “Growth to return in second half of ’09” PDF
Q2 “The end is near as reflation kicks in” PDF
Q1 “Events, dear boy, events” PDF
2009
Q4 The Bailout Blues PDF
Q3 Storm front PDF
Q2 On sentiment and clarity in the markets PDF
2008 Economic Outlook and Market Forecast PDF
SUMMER  2007 Looking in the Rear View Mirror ...

Past performance is not necessarily indicative of future performance

PDF
SPRING  2007 Shanghaied? ...

Big picture risks needn’t mean big picture headaches

PDF
WINTER  2006 Fourth Quarter Review ...

The Global View

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SUMMER  2006 Third Quarter Review ...

Recessions and the Inverted Yield Curve

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SPRING  2006 Second Quarter Review ...

Focus on the US Federal Reserve

PDF
WINTER  2006 First Quarter Review ...

Are we in the final stages of this bull market?

PDF
FALL  2005 October is over and a year end rally is needed to spur the US equity market into positive territory for the year.

Asset mix remains cautious ...

PDF
SUMMER  2005 The market harbours not one but many "conundrums".

All the more reason to be extremely cautious ...

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SPRING  2005 Global Capital Markets remain stable in spite of rising energy and materials prices.

The US and Chinese economies continue to expand and inflation is surprisingly benign ...

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