Videos 12/06/2026 Using LLMs to identify market narratives Large Language Models (LLMs) can identify, track, and quantify economic narratives, helping to interpret emerging macroeconomic shocks. Read More
Videos 05/06/2026 Oil shock absorbers – how long will they last? The overall impact of higher oil prices on the global economy has been limited so far – oil prices have fallen since April and the premium on dated Brent has been largely eliminated Read More
Videos 29/05/2026 Global equities – overvalued or overbought? Global equities have continued to post gains in recent months in spite of several significant challenges, partly because of AI-optimism Read More
Videos 22/05/2026 Global bonds – buying opportunity or normalisation? The macroeconomic effects of the oil shock have so far been relatively limited in the major developed economies. Read More
Videos 14/05/2026 On the Horizon – May 2026 AI-related news flow supercharged the market, with better models, rising AI agent adoption, and expectations that CPU, server and semiconductor usage will accelerate. Read More
Videos 08/05/2026 AI eats the global market The AI infrastructure providers remain supply-constrained in physical capacity and continue to raise capex plans in response to projections of increasing demand. Read More
Videos 30/04/2026 Dollar debasement and diversification The dollar is currently overvalued by approximately 20% against other major currencies according to our models. Read More
Videos 24/04/2026 The war time Fed Closure of the Strait of Hormuz implies loss of roughly 14% of oil supply probably for another month. Read More
Videos 20/04/2026 On the Horizon – April 2026 Energy prices have risen sharply enough to create a meaningful consumer shock, with dated Brent roughly doubling from early-year levels. Read More
Videos 17/04/2026 Offsetting global shocks drive asset markets The Strait of Hormuz remains effectively closed while talks and the ceasefire continue in the background. Read More
Videos 10/04/2026 The economics of Iran’s toll booth strategy The announcement of the two-week ceasefire in the US-Iran war led to relief in markets and an initial steep drop in the price of oil. Read More
Videos 17/03/2026 On the Horizon – March 2026 In this episode of “On the Horizon,” Fawaz Chaudhry, Partner and Head of Equities, discusses: Unprecedented supply disruption with mitigation… Read More
Videos 11/02/2026 On the Horizon – February 2026 Precious metals rally, supported by central-bank buying gold and structural solar/EV demand for silver and software sell-off driven by “AI loser” fears even as fundamentals hold up. Read More
Videos 06/02/2026 The transition to Warsh Several obstacles could complicate and delay the confirmation of Kevin Warsh as the new Fed Chair. Read More
Videos 22/01/2026 Unlocking Alternatives: Rethinking DC pension strategies for modern portfolios Matthew Roberts, unpacks why alternatives hold more weight than ever, and why accessing them smartly is no longer just a nice-to-have. Read More
Videos 20/01/2026 On the Horizon – January 2026 AI trade shifting from hype to real productivity gains, driving hiring freezes and slower job growth. Read More
Videos 17/12/2025 Real Asset outlook – what to watch? Earlier this year, we outlined Fulcrum’s 2025 Real Asset Outlook: a world defined by trade tensions, policy shifts, and the acceleration of digital and energy infrastructure. Now, as the year unfolds, we look at how those themes are playing out – and what investors should focus on next. Read More
Videos 15/12/2025 On the Horizon – December AI race broadens beyond Nvidia as Google ramps TPU-driven Gemini stack. Read More
Videos 14/11/2025 Deeper Dive – AI: May the force be with us Stock market valuations appear overstretched on traditional metrics such as the Shiller CAPE ratio. Read More
Videos 14/11/2025 On the Horizon – November AI infrastructure build-out remains a key driver of equity strength, with CapEx upgrades across hyperscalers and supplier. Read More
Videos 15/10/2025 On the Horizon – October AI-driven capex boom sustaining US growth despite tariff headwinds, and the high-end consumer strong thanks to wealth effect and housing. Read More
Videos 10/09/2025 On the Horizon – September Fed turning dovish as Trump appointees reshape FOMC balance. Read More
Videos 15/08/2025 On the Horizon – August Equities supported by dovish Fed tilt despite tariff-related inflation pockets. Read More
Videos 09/07/2025 On the Horizon – July Equities extended gains amidst sentiment around tariffs and the tariff rhetoric is again intensifying, sectoral levies add friction. Read More
Videos 13/06/2025 Deeper Dive: Fiscal policy and term premia Short rate expectations are fundamentally unobserved, complicating term premium estimation. Read More
Videos 13/06/2025 On the Horizon – June Equities rallied on positioning unwind and fading worst-case trade fears. Read More
Videos 15/05/2025 On the Horizon – May Oil prices are dropping due to increased supply, not just demand. Read More
Videos 03/04/2025 On the Horizon – April Tariff regime appears harsher than worst-case forecasts and a global slowdown expected if tariffs persist. Read More
Videos 11/03/2025 On the Horizon – March 2025 Higher tariffs likely to drive stagflation in the US. Read More
Videos 18/02/2025 Deeper Dive: Trump’s plan for a sovereign wealth fund President Trump has proposed the creation of a large US sovereign wealth fund (SWF), partly funded by tariff revenue. Read More
Videos 07/02/2025 On the Horizon – February 2025 DeepSeek’s R1 model significantly reduces AI training costs. Read More
Videos 17/01/2025 Trump’s Tariffs – A Challenge to the Global Economic Order and to Orthodox Economics Gavyn Davies answers recent client questions, including global responses to Trump tariffs and potential economic impacts and broader implications of tariffs on policy and markets. Read More
Videos 14/01/2025 On the Horizon – January 2025 Cautious Equities: stretched S&P 500 valuations and heavy tech capex with delayed revenues. Read More
Videos 09/01/2025 Tariffs: Hawks and Doves in the White House President Trump’s economic team are united behind the need for higher tariff. Read More
Videos 02/01/2025 Deeper Dive- Trump’s tariffs: revenue, restriction and reciprocation The potential economic impacts of tariffs include lower growth and higher inflation. Read More
Videos 14/10/2024 Q3 2024 Investment Update The market events and trends that have dominated in Q3 and the impact these had on performance. Read More
Videos 11/10/2024 Gradual Powell – but Trump lies in wait The market is now pricing in higher rates than before for the middle of 2025, reflecting a more robust labour market. Read More
Videos 13/09/2024 Harris “debate win” may not be enough The US presidential race is tight, with polls showing narrow margins. Read More
Videos 19/07/2024 Deeper Dive: China at the third plenum The Third Plenum sets out the policy direction for China for the next five years. Read More
Videos 12/07/2024 Deeper Dive: The fiscal crisis in Brazil Brazil has experienced recent volatility in its markets, including a weaker currency. Read More
Videos 10/07/2024 Q2 2024 Investment Update The trends driving performance in Q2 and outlook going into the second half of the year. Read More
Videos 21/06/2024 Deeper Dive: Strains in the Fifth Republic The upcoming elections in France have the potential to significantly impact markets and test EU structures. Read More
Videos 18/04/2024 Deeper Dive: R star and the bond market The concept of R-star, the equilibrium interest rate, and its importance in the bond market. Read More
Videos 05/01/2024 2023 Review and 2024 Outlook The outlook for the global economy over the next 12-18 months Read More
Videos 31/01/2023 Fulcrum’s Investment Process Explained An overview of Fulcrum Asset Management, Fulcrum’s investment committee and process. Read More
Videos 31/01/2023 An introduction with Fulcrum’s investment team Chief Investment Officer, Suhail Shaikh talks briefly through Fulcrum’s investment team and how it employs deep macro research as part of the overall investment process. Read More
