Stimulus or revolution? Britain's binary choice

We have published a note looking at the economy the new government will inherit. We examine the consumer and business investment outlook, the fiscal position and monetary policy. We also contrast the different policy choices facing the UK. If you would like a copy please contact us.

Global Gravity v Central Banks

We have published a presentation outlining our current thoughts on capital markets. The key themes are political risk, global bond compression and inflationary risk, UK consumer, fiscal and business outlook, an outline on our thoughts on the US and Eurozone as well as a valuation analysis. Please contact us for a copy.

The Shadow Price of Gold

We are delighted to publish this morning a fascinating paper written by Scott Evans and Matt Fletcher examining the theoretical link in the gold price with the US monetary base. Their analysis suggests that gold (and silver) are materially undervalued asset classes which, using their methodology, suggests the gold price could more than double to over $3000 an ounce. The examines the long term linkage between the US monetary base and the gold price.