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 […]
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.
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 […]
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?
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…