Global Markets and Macro Investing by Callum Thomas
Fed to continue raising rates as inflation expectations rise, Callum Thomas notes
Callum Thomas said that inflation expectations are becoming anchored at higher levels and stated that the Federal Reserve has a clear mandate in this context. He added that more rate hikes are ...
Callum Thomas: Central banks shifting from monetary easing to rate hikes in 2026
Callum Thomas stated that previous monetary easing has contributed to resilient global growth this year. However, he described a shift now taking place, with more central banks pivoting to rate ...
LatAm equities trade at major discount, Callum Thomas notes
Callum Thomas points to significant deep value opportunities in Latin American equities. He observes that while markets such as Brazil have seen notable gains, with Brazil rising 20% over the past ...
Callum Thomas: Stocks strongly outperform bonds in current market cycle
Callum Thomas observes that stocks are delivering much stronger returns than bonds, attributing this to a bullish market environment for equities and a prolonged bear market for bonds. He ...
Fed policy could trigger a reset in markets, Callum Thomas warns
Callum Thomas suggests that the Federal Reserve is nearing the end stages of its interest rate hiking cycle. He notes that further rate increases will likely push investor positioning and market ...
Callum Thomas: U.S. loses top spot as world’s most expensive stock market
Callum Thomas reports that the U.S. is no longer the most expensive stock market globally. The country now ranks as only the second most expensive market ...
TLT total return nears full reversal after CPI adjustment, Callum Thomas notes
Callum Thomas observes that when adjusting for CPI and including interest, TLT is very close to round-tripping its total return since inception. This means the long-term government bond ETF has ...
Callum Thomas: Weekly S&P 500 ChartStorm post highlights key market chart sources
Callum Thomas shares an update on the latest Weekly S&P 500 ChartStorm blog post. The post features chart sources from several market analysts, including references to accounts such as ...
Investor cash positions fall to near record lows, Callum Thomas warns
Callum Thomas observes that investor cash allocations are approaching record low levels. This trend is part of a broader move away from defensive strategies and diversification. According to ...
Callum Thomas: Global economy sees broad-based upswing in commodity prices
Callum Thomas highlights that the global economy is experiencing considerable momentum with a broad-based rise in commodity prices and a reacceleration of global manufacturing PMIs to multi-year ...
Weekly S&P 500 #ChartStorm blog post reviews latest market charts, Callum Thomas notes
Callum Thomas shares an update featuring his weekly S&P 500 #ChartStorm blog post, referencing several chart sources. The update acknowledges contributions from recognized market analysts and ...
Callum Thomas: Stock market faces stealth correction with weak breadth
Callum Thomas highlights recent observations from this week's market charts. He points to a 'stealth correction' taking place in the stock market, with the equal-weighted S&P 500 down more than 5 ...
Stocks seeing unprecedented outperformance over bonds, Callum Thomas notes
Callum Thomas observes that stocks are currently outperforming bonds to a degree not seen in over 50 years. He describes the situation as becoming extremely stretched, cautioning that such market ...
Callum Thomas: Asset class valuation indicators provide insight into market sentiment
Callum Thomas examines asset class valuation indicators and their role in identifying market trends. He points out that higher indicator values signal expensive conditions, while lower values ...
Investor bond exposure reaches multi-decade low, Callum Thomas notes
Callum Thomas observes that investor allocations to bonds have dropped to their lowest levels since just before the Global Financial Crisis and the peak of the dot com era. Thomas points out the ...
Callum Thomas: S&P 500 chart sources featured in weekly blog post
Callum Thomas shared a weekly blog post featuring S&P 500 chart analysis and acknowledged several chart sources. The post gives thanks and recommended following accounts such as topdowncharts, ...
S&P 500 weekly review covers liquidity and correlations, Callum Thomas notes
Callum Thomas provides an update on the S&P 500 with his weekly ChartStorm. This week, Thomas covers technical analysis, market breadth, warning signs, correlations, liquidity considerations, ...
Callum Thomas: Fed funds rate should reach 5 percent based on inflation trends
Callum Thomas suggests that the Federal Reserve should increase the fed funds rate to 5 percent, citing its typical response to inflation expectations and labor market conditions. According to ...
S&P500 volatility and tech boom-bust risks grow, Callum Thomas warns
Callum Thomas highlights that the S&P500 is currently experiencing notable volatility. He observes that these movements are in line with typical seasonal patterns. According to Thomas, credit ...
Callum Thomas: Sharing big bank content could risk account suspension
Callum Thomas warns that sharing content from major banks may result in accounts being locked or suspended without prior warning. He suggests creating original charts, seeking permission, or ...
Lower highs and higher lows drive tension in U.S. dollar, Callum Thomas notes
Callum Thomas highlights that the U.S. dollar is at a significant technical decision point, as shown in a recent chart. Bears are focused on the lower major highs, while bulls point to the higher ...
