After several “mini-shocks” throughout the year such as inflationary fears in the USA and a temporary crisis of trust in connection with Italian government bonds, quite a bit of uncertainty has already been priced into the market. Will the current phase, which is characterised by rising share and bond prices and that comes with credit risk be only a short-lived one? Or have the markets generally entered calmer waters?
The Turkish lira reflects the difficult situation Turkey is currently in. This year alone, the currency has shed more than 45% of its value to date. Interview update with Anton Hauser, Senior Fund Manager, Eastern Europe bonds.
The performance of most asset classes in the year to date has been mixed, to put it euphemistically. Is there a common underlying factor? Can we expect to see a better second half of the year?
Has the political and economical backdrop improved as result of the election in Turkey? In our newest blog post we’re answering 7 of the most important questions.
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 […]
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 […]
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?
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.
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.
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:
