The UK stance on refugees could be described as paying them to stay away. However, an analysis of the underlying data suggests that compared to Germany the UK has less to gain from, and less ability to pay for, such inflows. I feel a deep sense of shame. Not because… Read More »
The Fed is maintaining its desire to normalise monetary policy by 2018 whilst retaining a certain degree of flexibility in how to achieve that goal 1.Following 7 years of unchanged rates, the Federal Reserve has, as expected, raised its interest rate range from 0-0.25% to 0.25-0.50%. This decision was widely… Read More »
According to Nossek (WisdomTree Europe), asset allocation is tilted towards overweighting equities relative to credit and bonds, with Europe presenting itself as having the broadest appeal in equity style strategies Against the suppressed sovereign bond yields, rising rates expectations in the US, and an upbeat economic outlook for Europe and… Read More »
A skilled active manager can add value in all economic cycles and markets. But which market segments are most attractive? The State Street Global Advisors standpoint In the match between active and passive management, the first is the winner. This is the opinion of State Street Global Advisors.“In our view,… Read More »
Goldman Sachs Asset Management -
On December 16, the US Federal Reserve (“Fed”) announced a well-telegraphed 25bps rate hike to 0.25%-0.5%—the first increase in a decade. The policy remains extraordinarily accommodative This is the first small step toward interest rate normalization since the financial crisis. The statement cited sufficient improvement in the US economy and… Read More »
The U.S. Federal Reserve has raised its key interest rates by 25 basis points, as widely expected. At the same time, the quarterly outlook on unemployment, economic growth and inflation was basically unchanged from the September FOMC meeting. The interest-rate guidance provided by the FOMC members for the coming three… Read More »
The year-end holiday season is a time of reflection: a chance to look back at what has transpired over the previous year and look ahead to the next 12 months.In time honoured tradition, let’s look into our crystal ball to see what 2016 has in store for selected Asian nations.… Read More »
A cut in the ECB’s deposit facility rate to minus 0.3%, a six-month extension of its asset purchase programme March 2017, reinvestment of the principal payments and inclusion of regional and local debt among the eligible assets: in announcing these measures [on Thursday], Mario Draghi doused market expectations. Equities have… Read More »
Cyclical factors: deceleration in China, gradual tightening of financial conditions as the Fed normalizes interest rate policy, commodity price weakness, capital outflows and country-specific currency depreciation, debt deleveraging and tepid domestic demand. Modest Growth Acceleration But Downside RiskThe Emerging Markets (EM) are expected to grow by 4.3% in 2016, modestly… Read More »
Hans Bevers -
Draghi left the door open for further actions if necessary mentioning “the asset purchase program could run beyond March 2017 if necessary and in any case until the Governing Council sees a sustained adjustment in the path of inflation” If inflation should be more than welcome to dilute the huge… Read More »
Podcast