Callum Thomas Blog | Talkmarkets | Page 1
Founder of Topdown Charts
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Callum is the founder of Topdown Charts - a chart driven research house covering global asset allocation and economics. Callum has a background in multi-asset investment strategy on the buyside and has built up strong research and analytical expertise for generating global macro driven ... more

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Chart Of The Week - China Credit Impulse And The Global PMI
The China credit impulse indicator has turned sharply downwards. During the past decade, this would normally be considered a dire signal for the global economy.
Chart Of The Week - Exponential Expectations
If you want one chart to capture the current market zeitgeist this one comes pretty close.
Making Sense Of Macro In Multi-Asset Investing
Here's a good overview of some of the key issues on the global macroeconomic outlook and implications for multi-asset investing.
Chart Of The Week – REITs In Ruins
REITs are now becoming a proxy for life normalizing in a post-COVID-19 world.
Chart Of The Week – Quarantined Cash
Bull markets are often born on poor sentiment, and we certainly have such sentiment today.
Broken Indicators: The Forward PE And The PEG
The forward PE ratio is broken. It has the rona. Stop using it.
EC The Biggest Downside Risk To Markets
The biggest risk to markets is that the liquidity crisis turns into a solvency crisis, and a key channel/symptom/trigger of that will be the flow of money and credit.
Global Monetary Policy Map
There has been a tremendous monetary policy response to COVID-19. Each time a pundit has uttered those infamous words, “the Fed is out of bullets”, we seem to get another huge piece of stimulus.
Weekly S&P500 ChartStorm
Here are ten must see charts and my related thoughts...
Small Caps Have Gotten Smaller
Relative performance has been disastrous for US small-cap stocks vs. large caps. As such their market cap share has dropped substantially, and valuations have reset from expensive to arguably cheap.
Aussie Yen - Risk On
Aussie Yen (i.e. AUDJPY) is one of those unique FX pairs that is particularly worth keeping track of because it acts as a sort of barometer market.
Capital Market Assumptions: Big Shifts
Markets are not efficient at all times, and that yields investment opportunities around the world. Couple attractive valuations with poor sentiment across the foreign equity universe, and there is a convincing case to be made for favorable returns.
10 Charts On The PE10 Valuation
The PE10 is a useful indicator for asset allocation and global equity strategy, and there are some really interesting signals right now, and a few important facts and caveats to pay attention to.
10 Charts To Watch In 2020 (Q1 Update)
The end of Q1 is rapidly approaching, and what a year this quarter has been. Obviously a lot has changed since the start of the year, and the situation is fluid, to say the least.
Global Equities: Generational Buying Opportunity Emerging
We are seeing initial signals in technicals, valuations, and monetary/fiscal policy that make for an increasingly bullish medium-term outlook for global equities (particularly global ex-US).
US Dollar Index: On Watch
The US dollar index (or DXY) is on the move, but what's next and why should you care?
1 to 16 of 470 Posts
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