Archive by Author

June is Out… But 2015 Lift-off Still On

SV 6.8.15

Looking at Fed Funds futures contracts, it would appear that the fixed income market has ruled out a June rate hike but is coming back to the idea of a 2015 lift-off.  Currently June fed funds future are spot on the current effective fed funds rate of 13bps.  In the chart below, we plot the […]

WHITE PAPER – The Gavekal Knowledge Leaders Indexes: Capturing the Excess Returns of Highly Innovative Companies

A rich academic history suggests equity returns can be explained by risk exposures, or factors. In our first white paper, we identified the Knowledge Effect, the tendency of highly innovative companies to experience excess returns. In this second report, we detail how we create the Gavekal Knowledge Leaders Indexes to capture the Knowledge Factor. Download […]