Key News Asian equities closed mixed, as Japan and India outperformed and the US dollar weakened overnight. Hong Kong’s four-day winning streak and Mainland China’s three-day winning streak both came to an end with profit taking overnight. Both markets bounced around the room on volumes that were well above their 1-year averages. It was very interesting that Southbound Stock Connect volumes accounted for 64% of turnover in Hong Kong today. I can’t recall a percentage that high, as Mainland investors poured $673 million into Hong Kong-listed stocks and ETFs, net of selling. Does the high Connect percentage indicate a lack…

Iconic American musician and Nobel Laureate in Literature Bob Dylan’s words from 1964 apply to today’s markets: “the times they are a-changin.” As political misalignment in the United States emerges as a material investment risk, investors and companies are increasingly risking their long-term sustainability by downplaying it. Let’s examine the hidden cost of downplaying sustainability and why many are underestimating it. The Times Are A-Changin, and Investors Must Change With Them What matters to investors changes over time. This concept of dynamic materiality, first demonstrated by TrueValue Labs (now part of FactSet), can be seen in both cyclical trends and…