Mid-cap stocks exposed to structural change, ‘picks and shovels stocks’ and undervalued frontier market businesses are three areas of investment that would likely slip below the radar of the more passive and large-cap focused emerging market investor. For active, fundamentals-driven investors like us, they represent a great opportunity. 1. Undervalued… Read More »
Impacts of regulation & quantitative easing: How do you assess the liquidity situation of major bond markets? Which parts of the global fixed-income universe are currently depicting the strongest declines in liquidity and to what extent could those shortages potentially pose a threat to other market segments? Before answering above… Read More »
Flows into gold ETPs did not abate last week, with inflows totalling US$121mn, alongside silver ETP inflows of US$17mn. Flows in to gold did not abate last week, with inflows totalling$121mn, alongside inflows of US$17mn into silver ETPs. CFTC futures data highlights sentiment for gold being close to an all-time-high… Read More »
Multi-Asset Investment Team - BMO (Bank of Montreal) -
Faced with negative interest rates on deposits and government bonds, as well as very low yields on credit instruments, investors are pushing further into risk assets. Within equity markets ‘bond proxies’ are trading at elevated levels of valuations as investors chase ‘safe’ earnings and dividends. The expectation (currently in the… Read More »
Emre Akcakmak, Portfolio Manager per East Capital: “Frontier markets clearly benefit from improving risk appetite as this helps investors realize the long term potential of frontier markets as next generation emerging markets” How do you evaluate the performance of frontier markets over the last 5 years? What minimum investment horizon… Read More »
At -0.4%, Q2 showed modest improvement in core sector organic growth from -1.2% for 1Q. Europe saw some short-cycle demand growth, and whilst China improved from Q1, it remained weak. The US deteriorated. Even on good execution, core margins declined by 10bps YoY, beating expectations for a 40bps decline. In… Read More »
Credit Suisse raises our year-end targets to 2,250 and 3,100 for the S&P 500 and Euro Stoxx 50 from 2,100 and 2,950, and introduce mid-2017 targets of 2,300 and 3,200. We would, however, anticipate a sell-off in equity markets in the second half of 2017. We stick to our benchmark weighting… Read More »
Dovish Central Bank Accommodation Will Continue, and U.S. Federal Reserve is Unlikely to Raise funds Rates Until Conditions Improve We expect steady, unspectacular U.S. and global growth. That’s been our basic message: slow but sustainable growth globally. The fear the market had in the first quarter, that the slow growth… Read More »
Ursula Marchioni -
Financial markets have seen considerable volatility this year with global growth concerns, political events and questions around the next steps of central bank policies all adding to uncertainty. Investors are scrutinising each pronouncement by the U.S. Federal Reserve members while the Fed carefully monitors data points on the U.S. and… Read More »
Gold inflows suggest investors continue to hedge against uncertainties ahead Gold attracted US$277.6mn of flows this week suggesting the slightly hawkish FOMC statement failed to clear away uncertainty. The Federal Reserve left interest rates unchanged at its July meeting but noted that near-term risks to the US economy have “diminished”… Read More »
Podcast