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A “ Sputnik’s moment ” In the latest edition of our weekly financial markets update: Flexing muscles ; Noose is tightening around Hong Kong ; Taiwan in the collimator ; The end of US-China co-dependency ; Fixed income. BoJ is learning from the Fed ; Currencies. GBP is roller-coasting into a tight range ; Fixed […]
A nasty German worm In the latest edition of our weekly financial markets update: A German version of Pandora box ; Little financial spillover for now ; Poland: stop blaming its plumbers, rather praise its postmen ; Fixed income. Heterogenous central banks ; Currencies. EM currencies’ weakness turns secondary ; Equities. More confusion than convictions […]
Monetary Orgy In the latest edition of our weekly financial markets update: Further Disinflation – if not Deflation – looks inevitable ; But a rosier scenario would dramatically restore cyclical inflation ; Fixed income. Has Europe the tools to secure its strategy? ; Currencies. More QE in the UK is coming ; Currencies. The BoJ […]
STRATEGY AND MACRO Asset Allocation A global framework still very unstable… … where, worst case is avoided, for now But prepare for delicate U-shape pattern ahead Maintain an ¨off-road¨ vehicle investment approach Expect further volatility and rapid rotations Macro perspectives Storm-riders The World’s perspectives are particularly opaque. The sanitary crisis remains a unique […]
Oil resonance In the latest edition of our weekly financial markets update: The broad impacts of the Oil crash ; Fixed income. Fed is ready to do more, if needed ; Currencies. ECB preannounced more and cheaper once more ; Equities. COVID-19 created a ¨digital bomb¨. Accomplishment of the digital revolution? ; and Equities. Royal […]
Complex debt diplomacy In the latest edition of our weekly financial markets update: At odds, China favors fudging ; Fixed income. ECB adds fallen angels, and more could follow ; Equities. Results and WTI crash ; Equities. COVID-19, beginning of deconfine-ments ; and Equities. Shock in aviation. Click here to read our weekly financial markets […]
Fed’s magic toolbox In the latest edition of our weekly financial markets update: It’s no longer – just – size that matters… Style counts too ; Ultimate dislocations ahead? ; Currencies. Investors retain a defensive stance ; Oil. Despite a historic reduction in production, the supply-demand imbalance remains significant ; Equities. Profits sharply down in […]
RETROSPECTIVE Economic data starting to indicate the gravity The coronavirus outbreak which began in China but has since spread to encompass over 140 countries worldwide continues to wreak havoc in the global economy, and looks set to continue to do so for some time to come. There remains a great deal of uncertainty regarding the […]
Troubled waters In the latest edition of our weekly financial markets update: Known unknowns; Building – multiple – bridges; Fixed income. A record wave of downgrades; Oil. A difficult agreement; and A new spending plan for US infrastructure? Click here to read our weekly financial markets update report. Disclaimer This document is solely for […]
SNB to the Rescue In the latest edition of our weekly financial markets update: Conservatism – the Swiss way; SNB balance sheet. A double edge sword; Swiss-Finish QE: a nice Easter gift to needy Swiss citizens; Fixed income. A risk on subordinated bank debts; Gold. Finding gold at the right place at the right time […]