Erste Asset Management - Blog

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Peter Szopo am 30th November 2016

Is there a potential for a year-end rally in stocks?

From a technical point of view, the concept of a “year-end rally” is a myth. At least, this is what empirical evidence is telling us. In the past 10 years, the S&P 500, for example, posted a December performance, on average, of 1.12%, making December only the 5th-best month of the year (Fig.1). Over the entire period – from 2006 to 2015 – there was not a single year, in which December was the best performing month.

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Gerhard Winzer am 25th November 2016

Trumponomics

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The market participants are still focused on the implications of Donald Trump’s victory at the US presidential elections. In simple terms, “Trumponomics” are a combination of expansive fiscal policies and restrictive trade policy. An increased budget deficit is supposed to support economic growth, while the curbing of free trade aims at job protection.

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Peter Szopo am 17th November 2016

Markets assume President Trump will deliver

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The outcome of the US election last week, together with the Brexit-vote in June, was the second major political event this year that shook financial markets. In both cases the outcome was different to what pollsters, the media and investors anticipated. Unsurprisingly, markets – across asset-classes and geographies – reacted strongly and in some cases completely different to what was expected before the event. Donald Trump’s win is seen as game-changer, reflecting the next president’s pronounced views on free-trade and immigration, his geo-political positions and his domestic economic agenda including a massive fiscal boost to upgrade the country’s infrastructure, tax cuts and deregulation.

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Gerhard Winzer am 10th November 2016

The impact of Donald Trump’s election victory

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After a long campaign, the results of the US presidential election are in: Donald Trump will be the next President of the United States. In addition, the Republican Party has retained its majority in Congress. What are the repercussions for the global economy and the financial markets?

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Paul Severin am 07th November 2016

A slightly different view on Russia

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Alexandre Dimitrov, Senior Fund Manager for the Russia equity fund of Erste Asset Management, sums up his personal impressions of the investor conference in Moscow at the end of October. The picture is surprisingly positive…

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