The "CAM" provides up-to-date asset information on commodities, currencies, government bonds/rates, emerging markets, credit, equity and financial institutions, in addition to reviewing our Cross Asset Model Portfolio.
The market is caught in split-personality mode: (il)liquidity vs. (in)solvency; cyclical vs. structural; the short vs. long run. Which will dominate the here and now? The answer is not clear but changeable, hinging on myriad market and macro responses to politics and policy. [...]