Daily Themes 2011

Increase your understanding with our in-depth examination of the major themes driving market behavior.

View the latest Daily Themes below.


December

Daily Themes - 22 December 2011
Euro weighed down

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Daily Themes - 12 December 2011
EU leaders move crisis down new road

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Daily Themes - 9 December 2011
Progress toward fiscal union, but risks of a euro break-up have increased

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Daily Themes - 8 December 2011
Oil above $100/barrel is another drag on global growth and potential risk

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Daily Themes - 8 December 2011
ECB rate-cut welcome, but fiscal union by March 2012 is a tall order

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Daily Themes - 5 December 2011
EU set to take big steps, but more is needed to solve the euro crisis

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Daily Themes - 1 December 2011
Central banks respond to growing risks

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November

Daily Themes - 30 November 2011
Gold will be a winner in the battle against deflation

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Daily Themes - 29 November 2011
UK fiscal consolidation gets harder, but remains credible

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Daily Themes - 28 November 2011
The euro-zone may be in disarray, but the euro has been resilient

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Daily Themes - 22 November 2011
Euro-zone crisis enters more dangerous phase, fuelling renewed risk aversion

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Daily Themes - 17 November 2011
European earnings outlook: grim

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Daily Themes - 16 November 2011
Last-minute downgrades put actual earnings ahead of consensus

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Daily Themes - 10 November 2011
Europe faces its own TARP moment

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Daily Themes - 8 November 2011
Italian bond yields are at a critical juncture

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Daily Themes - 7 November 2011
Shift in focus from Greece to Italy is reason for caution on euro-zone

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Daily Themes - 3 November 2011
Progress on euro rescue reversed as Greece shifts the goalposts

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Daily Themes - 2 November 2011
Survival of the fittest in a world of weaker growth

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October

Daily Themes - 28 October 2011
Markets soar, but we are not out of the woods

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Daily Themes - 27 October 2011
Euphoria surrounding euro-zone rescue may not last as detail scrutinised

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Daily Themes - 25 October 2011
Convincing policy-action may not be enough to avert euro-zone recession

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Daily Themes - 25 October 2011
Doubts about euro-zone rescue plan to linger without ECB backstop

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Daily Themes - 20 October 2011
Gold has been dented, but the outlook remains attractive

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Daily Themes - 13 October 2011
Earnings downgrades aren’t new, but this time they’re more durable

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Daily Themes - 11 October 2011
Convincing policy action – the key to a durable rally - remains elusive

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Daily Themes - 10 October 2011
For the longer-term equity investor, valuations are key

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Daily Themes - 7 October 2011
Global growth uncertainties to keep volatility high for Hong Kong equities

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September

Daily Themes - 28 September 2010
2011 expansionary policy favours Chinese equities

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Daily Themes - 24 September 2010
Time to change your assumptions about emerging markets

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Daily Themes - 23 September 2010
Bullish investors are storing up trouble in oil

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Daily Themes - 17 September 2010
Asian currencies – long-term optimism after a near-term pause

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Daily Themes - 16 September 2010
Deflation - bad for equities in general, an opportunity for some

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Daily Themes - 13 September 2010
Trend toward more accommodative Chinese policy still intact

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Daily Themes - 9 September 2010
The art of calculating the odds of a double dip

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Daily Themes - 8 September 2010
Low bond yields are driven by fundamentals, not a bubble

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August

Daily Themes - 25 August 2011
Gold standard flourishes once more

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Daily Themes - 24 August 2011
Cautious on the Chance of Fillip from Jackson Hole

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Daily Themes - 24 August 2011
Lower growth implies downside risk to consensus earnings expectations

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Daily Themes - 19 August 2011
Decisive action needed to clear the outlook for US growth

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Daily Themes - 17 August 2011
Merkel-Sarkozy summit fails to address immediate solvency issues

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Daily Themes - 16 August 2011
Roadmap to stabilising euro-zone finances and the global recovery

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Daily Themes - 15 August 2011
Tuesday summit could reveal German willingness to save the euro

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Daily Themes - 9 August 2011
Long-term equity opportunities in the current market rout

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Daily Themes - 9 August 2011
A circuit breaker is needed to halt the slide in the markets

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Daily Themes - 8 August 2011
Political will to weaken Swiss franc is growing – our view on the options

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Daily Themes - 8 August 2011
US downgrade is a wake-up call for policy-makers

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Daily Themes - 5 August 2011
SNB looks to stem the tide of Swiss-franc strength, but help needed

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Daily Themes - 4 August 2011
Structural debt problems are causing erosion in traditional safe havens

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Daily Themes - 3 August 2011
Strong franc to continue weighing on Swiss equities

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July

Daily Themes - 27 July 2011
Simply raising the debt ceiling is not sufficient to avoid a US downgrade

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Daily Themes - 26 July 2011
Emerging markets likely to outperform as inflation pressures cool

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Daily Themes - 22 July 2011
When it comes to bailout funds – size matters

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Daily Themes - 21 July 2011
The euro-zone’s options – take bold steps or fiddle while Rome burns

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Daily Themes - 19 July 2011
Euro-zone crisis rising to a crescendo ahead of Thursday’s EU Summit

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Daily Themes - 19 July 2011
A peak in Chinese inflation equals opportunity in Chinese equities

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Daily Themes - 18 July 2011
Stress tests will not bring stress relief for euro-zone policymakers

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Daily Themes - 12 July 2011
Reality of Greek insolvency is sinking in with euro-zone policy-makers

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Daily Themes - 11 July 2011
Rosy forecasts for second quarter earnings look set to disappoint

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Daily Themes - 11 July 2011
Europe getting closer to choosing systemic solution over chronic fatigue

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Daily Themes - 7 July 2011
Bloated UK house prices will keep rates low for longer

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Daily Themes - 6 July 2011
The US economy – continuing along the recovery path without a crutch

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Daily Themes - 5 July 2011
US equities to gain as forecasts catch up with economic reality

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Daily Themes - 1 July 2011
UK public-sector workers protest, but discontent is not at 1970s levels

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June

Daily Themes - 30 June 2011
US debt ceiling – politicians squeeze on the trigger of a dirty weapon

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Daily Themes - 27 June 2011
Avoiding Greek default – a Sisyphean task

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Daily Themes - 24 June 2011
A simpler way to contain the euro-zone debt crisis

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Daily Themes - 14 June 2011
US economy in a soft patch, but not a double dip

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Daily Themes - 8 June 2011
The real cost of UK housing

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Daily Themes - 2 June 2011
To solve the euro-zone crisis, pain is unavoidable

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Daily Themes - 1 June 2011
Commodity price correction removes headwind to global growth

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May

Daily Themes - 17 May 2011
Eurostat data confirms caution on Greece, Portugal and Ireland

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Daily Themes - 11 May 2011
US Treasury yields to rise over the year as economic recovery continues

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Daily Themes - 10 May 2011
With further storms still a threat, gold provides ballast

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April

Daily Themes - 21 April 2011
Renewed interest in new energy sources

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Daily Themes - 13 April 2011
Oil will have to go much higher to derail growth

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Daily Themes - 11 April 2011
Japanese equities still supported by global growth and cheap valuations

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Daily Themes - 8 April 2011
After Portugal bail-out, restructuring is next step in euro-zone debt crisis

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Daily Themes - 7 April 2011
US shut-down would have little economic bite, but bigger issues loom

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Daily Themes - 7 April 2011
Rates rises need not spell an end to the rally in risk assets

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Daily Themes - 6 April 2011
UK PMI strength adds impetus for a May rate hike

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Daily Themes - 5 April 2011
Record profit margins will face squeeze from rising input costs

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March

Daily Themes - 31 March 2011
US economy better placed to beat QE2 withdrawal symptoms

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Daily Themes - 30 March 2011
Markets may be underestimating the risk of an oil-supply shock

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Daily Themes - 29 March 2011
EU pauses halfway in addressing the euro-zone debt crisis

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Daily Themes - 23 March 2011
UK Budget big picture unchanged as fiscal credibility is maintained

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Daily Themes - 16 March 2011
EU halfway towards a credible plan for debt crisis, but risks remain

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Daily Themes - 15 March 2011
Update on implications from Japan’s worsening nuclear disaster

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Daily Themes - 14 March 2011
Economic and investment implications of the Japanese earthquake

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Daily Themes - 7 March 2011
Oil & gas sector exposure is best hedge against an oil supply shock

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Daily Themes - 4 March 2011
Commodities and equities favoured as rates move up from their lows

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Daily Themes - 3 March 2011
Emerging equities' lead to resume as rate-tightening fears shift West

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Daily Themes - 2 March 2011
Gold will lose sparkle once tensions in the Middle East subside

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Daily Themes - 1 March 2011
Industrial commodities favoured at this stage in the economic cycle

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February

Daily Themes - 24 February 2011
Economic and investment implications of higher oil prices

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Daily Themes - 23 February 2011
Mapping the drivers of Middle East and North African civil strife

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Daily Themes - 22 February 2011
A cyclical opportunity in Japan

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Daily Themes - 9 February 2011
Egypt causing little financial-market unrest, but other regimes on watch

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Daily Themes - 4 February 2011
What a ‘successful’ euro-zone debt plan would look like

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Daily Themes - 3 February 2011
Improving fortunes for US smaller companies

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January

Daily Themes - 26 January 2011
High yield bonds supported by yield pickup and rising risk appetite

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Daily Themes - 24 January 2011
Oil price to make gains, but limited to around $100 per barrel

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Daily Themes - 20 January 2011
Emerging equities still have the edge over developed

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Daily Themes - 18 January 2011
UK rate rises in 2011 likely to be modest

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Daily Themes - 6 January 2011
Strengthening recovery favours equities over bonds in 2011

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Outlook 2011 Update

How have events unfolded relative to our 2011 investment outlook.

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