Research

Expert Research, Confident Market Moves.
Expert Research, Confident Market Moves.
From Silver to Central Banks
Tresmark – In the late 1970s, Texas oil billionaires Bunker and Herbert Hunt quietly began buying silver — first bars,

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From Mongols to Monsoons: Lessons Ignored, Losses Mount
September 6, 2025
From Mongols to Monsoons: Lessons Ignored, Losses Mount
In 1258, Baghdad — once the beating heart of the Muslim world, alive with scholars, poets, and the great House
FX Watch: PKR Strains, INR at Record Low, Fed in Focus
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FX Watch: PKR Strains, INR at Record Low, Fed in Focus
In the early 1990s, the Sterling was pegged to the ERM (Exchange Rate Mechanism) — a political promise about the
Exports on life support
August 23, 2025
Exports on life support
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Pakistan’s Market Keeps Roaring — 170,000 Target in Sight
August 16, 2025
Pakistan’s Market Keeps Roaring — 170,000 Target in Sight
Trump & Putin In February 1945, as World War II neared its end, the world’s eyes turned to a small
Tariffs, Currencies and Misjudgements
August 9, 2025
Tariffs, Currencies and Misjudgements
The Saddam Miscalculation – Underestimating the Man Behind the Office Back in August 1990, Saddam Hussain rolled his tanks into
Tiger & Tariffs
August 2, 2025
Tiger & Tariffs
Tresmark: In 2008, Tiger Woods was at the peak of a successful golf career. His car crash that year, however,
The Return of Plan D
July 26, 2025
The Return of Plan D
Tresmark: Remember when our note ‘Danda is coming’ went viral about 2 years ago. Not much has changed since then.
At the Gates of Stability — or Chaos
July 19, 2025
At the Gates of Stability — or Chaos
Mehmed the Conqueror Sultan Mehmed II pulled off what many before him couldn’t. At just 21, he broke through the
EM Flows Shift Gears – Will PSX Be the Next Beneficiary?
July 12, 2025
EM Flows Shift Gears – Will PSX Be the Next Beneficiary?
Early signs point to the Rupee extending its losing streak. Last week, it shed 25 paisa, where as MTD it
Currency Conundrum: Answering the “Whys”
June 28, 2025
Currency Conundrum: Answering the “Whys”
Why is there pressure on the Rupee? Why are open market rates/Imports higher? Why is there a dollar shortage? Why
Dollar Scarcity: Real Squeeze or Tactical Play?
June 21, 2025
Dollar Scarcity: Real Squeeze or Tactical Play?
Tresmark: With dollars becoming harder to find, there’s a visible anxiety in the currency markets. Yesterday, while the interbank closed
MPC: Growth Push vs Rupee Stability
June 14, 2025
MPC: Growth Push vs Rupee Stability
Tresmark: Key factors for holding rates on the monetary policy meeting on Monday – IMF influence – Support for Rupee
How Pakistan Flipped the Script
May 31, 2025
How Pakistan Flipped the Script
Tresmark: With every new piece of intel, the scale of India’s embarrassment is getting harder to hide. What was initially
The Unmaking of the mighty Dollar
May 27, 2025
The Unmaking of the mighty Dollar
America’s Fiscal Reckoning call Moody’s has finally delivered a long-overdue verdict on the U.S. government’s fiscal trajectory, stripping away the
Rupee Wobbles Despite Strong Performance
May 24, 2025
Rupee Wobbles Despite Strong Performance
If you look at the USD/PKR chart over the past six months, you might feel it was purposefully choreographed—showing a
PAF rewrites the map, economy opens the tap
May 17, 2025
PAF rewrites the map, economy opens the tap
The Oracle’s Prophecy: A Parable for the Present Before marching on Persia, King Croesus of Lydia asked the Oracle of
Tensions Simmer, Rupee Holds Ground
May 10, 2025
Tensions Simmer, Rupee Holds Ground
Pak-India cross-border strikes have spiked regional tensions, rattling markets. However, the dollar-Rupee dynamic has remained reasonably stable despite the noise.
Pakistan’s Policy Tightrope
May 3, 2025
Pakistan’s Policy Tightrope
Markets on Edge: Recession, Remittances & Rate Risk In a charged webinar hosted by Tresmark and FMA, some sobering signals
How the Rupee Is Holding Up Amid Global Shocks
April 26, 2025
How the Rupee Is Holding Up Amid Global Shocks
Rupee’s Return Above 281 The Rupee closed above 281 last week, snapping a 15-month hiatus—even though the Dollar Index has
Rupee’s glow up amidst global turmoil
April 19, 2025
Rupee’s glow up amidst global turmoil
While strange things are happening in the global financial markets, something stranger unfolded in Pakistan, which recorded a billion dollar
The Financial War just started
April 12, 2025
The Financial War just started
Tresmark: It’s easy to say markets are volatile or panicked—but behind the headlines, trillions of dollars have vanished, companies are
Trump’s Trojan Horse
April 4, 2025
Trump’s Trojan Horse
Tresmark: History teaches us a lot, but it’s amazing how we unsee the obvious. – When the U.S. hiked tariffs