Profit taking in precious metals continued with outflow in gold totalling US$113m last week Profit taking in Precious Metals continued with gold outflows totalling US$113m last week. Following the first round of the French Presidential elections, the worst case in terms of market concerns, a Melenchon/Le Pen second round, was… Read More »
At the moment we are living in a very Chicken Licken world, where it looks like the sky is going to fall down on us. I think that the impact of political events is clearly exaggerated. Spain has had no government effectively for the whole of the year 2016 and… Read More »
European equities increased to overweight in multi-asset portfolios We have increased our exposure to European equities, given the fact that the political risk is increasingly discounted, valuations are lower and earnings momentum is positive in Europe. Markets had become reasonably optimistic about the global growth outlook and the implication for… Read More »
Michaël Lok, Norman Villamin, Patrice Gautry -
The first round of the French presidential elections delivered an outcome close to both pre-election polls and market expectations, reversing the trends seen during the BREXIT referendum and the US presidential election in 2016. This, combined with polls for the second round suggesting a wide lead for market-friendly Emmanuel Macron,… Read More »
A major inflection point for global interest rates will be reached during 2017, according to ETF Securities, one of the world’s leading, independent providers of Exchange Traded Products (ETPs). After almost a decade of artifically low rates, central banks might finally be able to pursue a more balanced approach to… Read More »
Profit taking on precious metals after last week’s strong rally Profit taking in precious metals. With gold almost reaching our target price for the year (US$1,300/oz by mid-year), we saw outflows of US$-30 mn from gold ETPs. The escalation of tensions in Syria, North Korea as well as uncertainty of… Read More »
We have witnessed some big moves in financial markets in the early hours of trading today following the confirmation that Emmanuel Macron will face Marine Le Pen in the second round of the French Presidential election. European corporate bond spreads were tighter on the news, and the euro was up… Read More »
The economic scenario has rarely been so favourable to the credit market: the global economy is in a cyclical upturn, recessionary risks are more remote, and inflation remains contained, although still rising. That said, rate risk management remains a significant issue for fixed-income investors. An active investment strategy – so-called… Read More »
Candriam -
Over the past 10 years, since the onset of the Great Recession, the state of public finances … … among eurozone members has deteriorated considerably (charts 1 & 2). The difficult bailout of Greece, and particularly the ECB intervention in summer 2012, prevented the breakup of the eurozone and restored… Read More »
When we look at the emerging-market companies in which we invest today, they are worlds away from the companies we were analysing a decade or two ago. The landscape of emerging-market corporations in general has undergone a significant transformation from the often plain-vanilla business models of the past that tended… Read More »
Podcast