Published on Sep 25, 2015
The U.S. economy continues to expand, buoyed by job growth, low energy prices and increased consumer spending. Those aren’t the only reasons for optimism. Key trade agreements such as the Trans-Pacific Partnership appear to be on track and, in another sign of confidence, the Federal Reserve has signaled its intention to raise interest rates this year. Yet questions remain about the strength of the recovery and America’s political direction. U.S. exports have fallen as the dollar has risen in value against the euro, yen and most other world currencies, slowing growth. Will the economy slow further? And what will an interest rate hike mean for equity markets and emerging economies, two beneficiaries of near-zero rates? What issues will shape the presidential race, and what are the consequences for Asia?
Odey's Brook Absolute Return Fund was up 10.25% for the third quarter, smashing the MSCI World's total return of 2.47% in sterling. In his third-quarter letter to investors, which was reviewed by ValueWalk, James Hanbury said the quarter's macro environment was not ideal for Brook Asset Management. Despite that, they saw positive contributions and alpha Read More