John Grey is a founding editor at Solomon Grey Capital, covering private credit, global macro, and institutional investment strategy across Asia and global markets.
Research
The ECB's second hike of 2026 is a hedge against an energy shock, but softer core prices and modest growth forecasts make recession risk the cleaner contrarian trade.
Research
Copper is making records, but the signal is policy-driven scarcity: metal is moving into US warehouses while global surplus risk remains unresolved.
Research
China's reserves beat expectations in August as the yuan rose and the dollar fell. The signal is managed appreciation and export protection, not a dollar exit.
Research
Novartis's failed Lp(a) trial did not break biotech's rebound. It exposed the market's real test: capital is returning, but only to clinical proof and de-risked assets.
Research
Kevin Warsh lifted September hike odds without offering a rate path. The contrarian trade is a credibility repair, not a policy promise.
Research
Health insurers are rebounding on better claims discipline, but the trade is pricing margin repair and selective shrinking, not a return to easy membership growth.
Research
U.S. diesel stocks hit a record seasonal low as refiners run near capacity. The contrarian risk is a persistent product shortage, not simply a crude spike.
Research
Australia's July CPI may cool, but the RBA's inflation problem is not solved. Sticky core prices keep patience, not easing, as the real trade.
Research
Bitcoin's move toward $80,000 is being powered by ETF demand and fiscal-credibility fears. The confirmation test is whether spot demand survives the Treasury catalyst.
Research
Private credit is raising record capital as defaults, PIK loans and redemptions rise. The signal is bifurcation, not a systemic break.
Research
Hong Kong's IPO rebound is real, but it is a capital-supply story before it is a China risk-on signal. The next test is post-listing discipline.
Research
Moderna's melanoma-vaccine trial is a genuine scientific win, but the 177% stock surge prices in more than one product. The next test is execution.