Since our last edition of Citation, markets, policymakers, and investors have been forced to navigate the economic fallout of the conflict in the Middle East. Nevertheless, the global economy has demonstrated remarkable resilience in the face of a fragile geopolitical landscape. The good news, however, is that while United States (US)-Iran tensions have re-escalated, both […]
A month into the second quarter of 2026 and we have a replay of 2025, where United States (US) President Donald Trump’s actions have disrupted world markets. On 28 February 2026, President Trump, ordered an airstrike on Iran, which has thrown global markets into a tailspin. We believe that President Trump is continuing to play […]
Last year was a bit of a lucky packet on the economic and market front. Despite United States (US) President, Donald Trump, being a polarising influence on the global landscape, a number of positives emerged and surprised in the second half of 2025. As is customary, we like to start the year by exploring the […]
This year has certainly thrown the markets a few curve balls. While things looked buoyant in January, by April when United States (US) President, Donald Trump, announced his first round of tariffs the mood had changed, and markets were anticipating a recession to unfold globally. Now, as 2025 draws to a close, the likelihood for […]
Since United States (US) President, Donald Trump, took office on 20 January 2025, he has undoubtedly kicked up a lot of dust and sent markets into a tailspin. With the US mid-term elections coming up in 2026, in this edition of Citation, we unpack Trump’s policies and look at why the clock may be ticking […]
As we head into the second quarter of 2025, two of the eight key themes I highlighted at the start of the year are taking centre stage—US President Donald Trump’s tariff-driven economic policies (now a war) and the deteriorating diplomatic relationship between South Africa and the US. In this edition of Citation, I explore how […]
As we enter the second quarter of 2024, market participants are throwing in the looming recession towel. The United States (US) economy is still rallying, and the anticipated US recession is nowhere in sight. Over the last few quarters, we have been talking about the canary in the coal mine, where economic indicators have been […]
As we head into the second half of 2024, we are eventually starting to see some green shoots. Economies are winning their fight against inflation, and a number of central banks are starting to offer some relief by easing monetary policies and cutting interest rates. Most developed markets, except the United States (US), are also […]
We believe the destination is in sight. Bringing global inflation back to sustainable levels has been a long journey, but now we are nearing the end of this flight. Most central banks have inflation under control, and we are finally starting to see interest rates coming down. This is good news for businesses, consumers and […]
As is usual at the start of every year, I like to unpack the key themes that we expect will dominate over the next 12 months and will impact both global and local economies and markets. For 2025, there are eight themes that Citadel Asset Management (CAM) believe are going to define the year. They […]