Search results for the keyword: election
Brexit: How resilient is the financial system?
The vote in favour of leaving the EU by the UK means one thing above all: uncertainty. Because the effects on the sentiment and the behaviour of companies, the public, the financial market participants, and the political parties are difficult to predict. Paradoxically, the prices of risky assets such as equities, corporate bonds, and emerging […]
Central and Eastern Europe poised for comeback
Author: Dieter Kerschbaum, Communications Specialist Austria Interest rates are at record lows in the euro area, as a result of which investors can feel a great deal of pressure to achieve acceptable yields. This situation shifts their focus back to the countries of Central and Eastern Europe (CEE). Central and Eastern Europe currently comes with […]
Brexit update: Will they stay or will they go?
Less than a week is left before the British electorate will decide whether the United Kingdom should remain a member of the European Union (the Bremain scenario) or leave the union, an outcome known as Brexit. Two months ago, when we started covering this event in a series of blogs (see here, here, here and […]
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.
Brexit: Breakin’ up is hard to do – Part I
The likelihood of Brexit On June 23, 2016 the UK will hold a referendum. Voters will decide whether the country should remain a member of the European Union (the “Bremain”-scenario), or whether it should leave the EU (the “Brexit”-scenario). Arguably, Brexit marks the most significant tail-risk for European and global asset markets in 2016.
Challenging environment on the Stock Exchange
The recovery from the slump on the equity markets we saw at the beginning of the year is coming to an end. The rally is losing steam. The search for new supporting factors in addition to the expansive central bank policies is difficult. In line with the general strategy “sell on highs”, we took the […]
Investors are focussing on the USA
The United States are currently in the spotlight, given the primary elections for the US presidential election in November. But what does the US economy look like at the moment?
Are global equity markets too expensive?
Interview with Peter Szopo, equity strategist Erste Asset Management (EAM) and Andreas Rieger, fund manager of ESPA STOCK GLOBAL ESPA STOCK GLOBAL is an actively managed equity fund that invests in selected single stocks from around the world. In the last year the fund gained 14.31%, over the last five years the annualized performance was […]
Turbulent capital markets: what to expect in 2016?
The price declines on the equity markets at the beginning of the year suggest a decline in investor confidence. Is this justified? Please find a few hypotheses for 2016 in the following:
Turkey and the feeling of summer time sadness
We are almost approaching the end of the summer but it looks like we are back to April 2015 in Turkey. The election outcome and aftermath did not work as politicians had desired and the efforts to form a government have failed so far.
Turning more positive on CEE equities
In searching for a perfect example of a sideways market one does not need to look further than at Central and Eastern European (CEE) equity markets. The CECE Composite, a Euro-based index of 23 Polish, Czech and Hungarian blue-chips (Bloomberg: CECEEUR), has been range bound for nearly four years, rarely trading outside a narrow range […]
Greece – the never ending story
The breakdown of the negotiations between Greece and its creditors as well as the planned referendum on 5 July troubles capital markets. Greece itself is formally not insolvent. As long that this is not the case the European Central Bank (ECB) will do whatever it takes to contain spillover risks. After the referendum, the next […]
Measuring Greek risk
The longest eleventh hour in recent history is drawing to a close. However, while the negotiations earlier this week seem to have narrowed the gap between Greece and its creditors, a final deal has not emerged yet.
High noon in Greece and the trend to volatility
Summary: The economic recovery in the developed economies is supported by the very expansive monetary policies, lower austerity pressure on the government front and among banks, and the fallen oil price. Growth rates remain moderate. In the emerging markets we can see signs of low-level stabilisation at best. The possible default of Greece, excessive interest […]
Strong Dollar and Turkey
In Turkey, the impact of the currency fluctuations are being discussed and even an ordinary Turk on the street knows what it means for the currency to depreciate. For example, during a cab ride, you may have a very deep economic discussion with the taxi driver about the dollar and the Turkish lira. This is […]