The economic environment for Italy remains challenging. The fundamental problem is the low economic growth. Although the composition of the future government is still unclear, the party programs imply a persistent reform deadlock.
The 4th BBVA Latin American Local Markets Conference in London gave me the chance to speak in detail with some local Latin American representatives. In the following, I would like to share some of the insights I gained from these conversations and the narratives that may affect 2018.
The entire Bitcoin network already requires more energy than Peru or Hong Kong, or almost half of Austria’s power supply. Such a development is clearly at odds with achieving the goals of the Paris Climate Agreement, i.e. to curb global warming to below 2 degrees.
Guest author: Margarita Sinitsyna, Fund Manager, Czech Republic Branch
With both rounds of the Czech presidential election behind us, we can now take a look back at some of its highlights. Incumbent Milos Zeman reaped a narrow edge over his challenger Jiri Drahos.
Author: Christin Bahr, Product Management Securities Erste Group
In the context of record lows of money market rates and low government bond yields, high-yield bonds remain in demand. In view of the already very low spreads it may be worthwhile having a closer look at this bond segment.
Autor: Tamas Menyhart, Fund Manager Equities, Erste Asset Management
European banks (as measured by the Stoxx 600 Banks Index) had a decent year in 2017: the index climbed more than 8%, slightly outperforming the broader European market (Stoxx 600 Index).
Dr. Ulrich Eberl is one of the most renowned German-speaking scientific journalists and futurologists. He holds a PhD in biophysics from the Technical University of Munich and was Head of Global Communication for research and future trends for 20 years at Siemens.
Guest author: Jenny Teng, Senior Fund Manager
Jenny Teng is senior fund manager in the equity team of Erste AM. Born in China she is employed since 2008 at ERSTE-SPARINVEST and responsible for the Asian equity markets.
Certainly, the National Congress of the Communist Party of China held every five years in Beijing is an important political event, but this year’s Party Congress was a milestone. It marked that a new era has begun in China. President Xi Jinping cemented his power further as China’s paramount leader, a leader, who might rule the country on the coming decade, a leader, who has high ambitions.
Gabriela Tinti was interviewed by Dieter Kerschbaum, Erste AM Communications.
The global economy is experiencing significant growth, and the emerging markets have felt the increased economic growth rates as well. Even in problematic countries such as Brazil or Russia, the situation has been picking up due to the increased oil price.
Impressions of a trip to Beijing
Author: Thomas Oposich, Senior Fundmanager Fixed Income funds
Driving through Beijing you will see megalomania without limits – in houses, traffic, and people. A trip in a tuk-tuk, which looks like a motorcycle on three wheels, allows you a short glance into the past. It is at these moments that the rift between rich and poor becomes obvious.
Irrespective of the opposites in the social strata, the eyes are looking towards the future of the metropolis, home to millions. Led by the government, plans are to take the country to new strength. The control exercised especially in the area of infrastructure and with respect to property prices is enormous.