Focus

The French government has made its first proposals to reform the labor market. Its main idea is that competitive conditions have dramatically changed and it’s impossible to have a law that can solve all the issues. For the government a “one size fits all” law cannot exist anymore on the… Read More »

Theresa May has currently a majority of 5 conservative seats in the parliament. This is a very narrow margin, which means she has to have the entire Tory party on board in order to be able to pass legislation. Moreover, since the UK’s referendum about the EU membership in particular… Read More »

Brexit will be long and will have a negative and persistent impact on the British economy. In a recent article from the Financial Times it is said that after the Brexit, after the U.K. will have left the European Union, in 2019, there will be a large number of treaties… Read More »

ECB likely to be more impactful for markets than Federal Reserve in the months ahead Our outlook for markets remains constructive as the trends we have seen unfold from the second half of 2016 through the first months of 2017 are likely to continue. What is different are the drivers… Read More »

As expected, Moody’s has downgraded China’s sovereign credit rating to A1 from Aa3 with revised outlook stable. According to Moody’s, the cut was due to growing leverage and the fact indirect liabilities will be pressured as economic growth decelerates.However, the upgrade to a stable outlook indicates that at A1, the… Read More »

By now, investors have already digested the main themes of the new French president’s economic agenda. The hope is high that a return to a kind of third way à la Blair-Schroeder will bring wealth-creating reforms. However, there is also another reason for investors’ predisoposition towards Emmanual Macron. Parallels present… Read More »

Trump’s first 100 days in office may have acted as a fillip for global equity returns , but this most unconventional of US presidents will need to roll up his sleeves and deliver on some of his promised tax and regulatory reforms to maintain positive momentum, says Stephen Mitchell, Head… Read More »

Emmanuel Macron prevails over Marine Le Pen in second round of French presidential elections by a substantial 66-34 score With the threat of Le Pen’s anti-EU and anti-euro course now squashed, European markets can breathe a sigh of relief. That said, the election outcome was well discounted and we would… Read More »

With his victory as France’s new president-elect, Emmanuel Macron can celebrate – for now. Much will depend on whether he can secure a clear parliamentary majority in June. Nevertheless, this win for pro-EU Macron should help investors see the more positive side to the European story. With the election of… Read More »