An Investment Committee again! A month can pass quickly, especially if there is a lot going on in the markets. In light of recent market events (Italy, Turkey, Argentina), I was surprised that our risk stance has not changed since our last Investment Committee meeting. Obviously, it takes a lot to get us out of […]
ARTICLES IN THE TOPIC “Markets”
30 years of falling interest rates – what is ahead of us?
Let’s start with a trip down memory lane: Do you remember the scenery 30 years ago – on the financial markets, and in our personal lives? The 1980s – many of the older generation are still thinking back to the “good old times”. There were no smartphones and no data kraken. Instead, we had shoulder […]
Is Turkey about to run into a balance of payments crisis?
The Turkish central bank was forced to raise its most important interest rate by 300bps and to re-align its monetary instruments. What are the reasons for this nosedive?
Italy: slipping into a crisis in confidence
The heightened uncertainty over whether Italy will repay its debts and whether it will remain a member of the eurozone has led to a sell-off in securities. Our chief economist Gerhard Winzer gives an overview.
Financial Markets Monitor May: positive opportunities outnumber negative ones
Positive opportunities still outnumber the negative ones on the capital markets – that was the conclusion of our Investment Committee. Our willingness to take risks is still optimistic and also moderately higher than in April.
Rising interest rates in the USA
The sentiment of the financial market participants has deteriorated in the past months, with the losses across numerous asset classes in the year to date seemingly the driving factor. Now we have to ask ourselves: are we at the outset of a new trend, or is this just a case of increased volatility? The general decline in prices has gone in conspicuous tandem with the increase in three important financial market ratios:
Croatia hits fever pitch
No, this is not an article on football, and any football reference is purely coincidental. This is an article on the football nation whose economy is (finally) showing positive trends and has (finally) been awarded a one-notch rating upgrade by two rating agencies, S&P and Fitch, this year. Only one notch away from the much-desired investment grade rating, the Croatian economy remains on sound footing before tackling its last challenge.
IMF conference in Washington: cautiously upbeat sentiment about emerging markets
Senior Funds Manager Felix Dornaus summarises his learning points from the presentations by the International Monetary Fund in Washington on 20 to 23 April 2018. Who were the winners and who the losers?
Turkey´s astonishing rush to early elections
Amalia Ripfl, Senior Fundmanager explains Turkey´s rush to early elections: who profits and what does it mean for the equity market?
Bleaker sentiment on the financial markets
The environment on the financial markets has become a bit bleaker. Growth rates of industrial output and the survey-based indicators for economic growth are falling, while the trade conflict between the USA and China and the tense geopolitical situation in the Middle East has caused the risk for global growth to increase further. Will the environment remain generally supportive to risky asset classes?