We have seen a number of trend reversals this year, one of them being the end of the negative growth surprises. The forecast of economic growth and inflation are currently not subject to downwards revisions any longer.
ARTICLES IN THE TOPIC “Know-How”
Emerging markets bonds in demand
Economic growth in the emerging markets has picked up substantially, while that in the industrialised economies has been rather stable. This has led to an increase in the growth differential in the emerging markets’ favour. Investor demand for emerging markets bonds has been on the rise in search of higher yields and interest rates.
Spotlight on: corporate bonds
ESPA RESERVE CORPORATE: 3 questions for Bernd Stampfl, fund manager.
Brazil: Hope for change stimulates bonds
Author: Felix Dornaus, Senior Fund Manager Emerging Markets Bonds Brazil tactically overweighted at the moment Most of the fundamental economic data are currently not good. In 2016, the country is in recession; for 2017, a minor growth rate of +0.7% is expected. The nominal budget deficit of 2016 is about -10%, with a primary deficit […]
The comeback of the Emerging Markets
Interview with Christian Gaier, Senior Fund Manager for emerging markets government bonds Emerging equity and bond funds have borne the brunt of the consequences of the global uncertainties in the past years. Wars and conflicts in the region, slumping commodity prices (especially oil), and fears of an interest rate reversal in the USA have caused […]
How stock ratios can help build a sector-strategy portfolio (part 2)
In the first part of our sector analysis we explained and examined numerous stock ratios. In this part, we want to have a look at how these ratios can inform strategic considerations and what insights can be gained for the composition of an attractive sector-strategy portfolio.
Bond markets suffering from decline in liquidity
Author: Martina Groll, Senior Fund Manager The bond purchase programme of the European Central Bank has caused a drought on the bond markets. As a result, investors now have to take into account the liquidity risk on top of the interest rate risk and the default risk.
Value versus Growth: Which investment approach to choose?
Everybody who has read academic literature on the performance of shares will know about the fact that value shares (and small cap shares) outperform so-called growth shares in the long run.
Emerging Markets: Opportunities with Corporate Bonds
In an interview with Péter Varga, Senior Fund Manager Erste Asset Management, I am discussing the chances and risks with investments in emerging markets corporate bonds. Many Investors feel unsettled by the weak performance of the emerging markets. Why is this the case?
Interest rate lift-off – Stay cool
Following last week’s surprisingly strong employment report, the odds that the US Federal Bank will start raising its policy rate at the next FOMC-meeting in December jumped to almost 70%. Of course, 70% is still short of 100%, but most observers believe that something terrible must happen in the next four weeks to make the […]