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Macro and Markets Monthly

By Gary Dugan, CIO OF DALMA CAPITAL | 2 June, 2023
Growth in Europe and the United States has proved more robust than expected, while inflation has persisted. Central bankers remain on watch, with the Federal Reserve still in a mind frame of tightening monetary policy, writes Gary Dugan, CIO of Dalma Capital, in his latest Macro and Markets Monthly.

Inflation Fight

By Gary Dugan, CIO of Dalma Capital | 29 May, 2023
The market’s wishful thinking is not coming to fruition. Inflation continues to be a problem. Last week’s economic data releases showed core inflation in the US and UK is on the rise.

Japan Inc is back....

By Gary Dugan, CIO of Dalma Capital | 22 May, 2023
Japan is back…well, at least the equity market is back to where it was more than 30 years ago. Maybe – just maybe – the corporate sector will build on its growing credibility with foreign investors to propel the market to all-time highs.

Really?

By Gary Dugan, CIO of Dalma Capital | 15 May, 2023
As expected, the US headline inflation rate fell to 4.9% in April.  With an increase in the Fed funds rate and rebound in long-term interest rates combined with this downward path for inflation, it is only a matter of time before yields turn real.

Stuck in the Grey Zone

By Gary Dugan, CIO of Dalma Capital | 8 May, 2023
Recent economic data have neither painted a picture of exuberance nor of utter despondency. Investors looking for emphatic evidence of one scenario or the other to emerge have been in a bit of a quagmire—it is neither the black nor the white but the grey zone where they find themselves in.

No New Reign in Prospect for UK Asset Markets

By Dalma Global CIO Office | 1 May, 2023
May 6th will see the crowning of King Charles III in London. Unfortunately, the coronation of a new monarch comes at a time when the asset markets in the UK are completely devoid of any crowning glory, even as they struggle to prove their relevance to international markets.