7 Comments
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Andrés Montes García's avatar

Thanks for everything you write André!

Talking about "pirate credit", if you think private credit is having some trouble, you can write about the current state of private equity (continuation funds, "democratisation of private equity", exits...) some day

The Quotedian - by NPB's avatar

Good idea, but I will lose even more friends :-)

Maximilian Weber's avatar

The correlation between commodities and equities you highlight feels like a late-cycle signature that is strong but increasingly fragile.

The Quotedian - by NPB's avatar

That is a very astute comment. A last hurrah?

Luca Hansson's avatar

Remarkable strength in the steel sector - breaking a 15-year high certainly raises the question of whether this momentum can carry through the 2010 resistance. Exciting times for cyclical plays.

The Quotedian - by NPB's avatar

Thank you for your comment. Indeed, if the 2010 resistance is broken, a possible target could be the all-time highs set in 2008 and nearly fifty percent above current level.