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MARKET INSIGHT — February 2020

Does excessive anxiety stiffle fear? Part II

Last month we examined fear, the mechanisms that feed it and its impact on the financial markets. Given the friction between Tehran and
the United States and the new coronavirus outbreak in China, January gave us much food for thought in this regard. The desire professed by both Iran and Washington to limit the threat of escalation seems to have led investors to…

MARKET INSIGHT — December 2019

Hope for the best and prepare for the worst

The 2019 equity rally has been described as one of the least popular in history. And this comes as no surprise when we consider how hard it was for investors to make gains. To see the truth in this, we need only cast our minds back to the pessimism about the future of the stock markets prevailing at the end of last year. Few investors at that point thought that…

MARKET INSIGHT — November 2019

On the quetzal and mariachi trail!

We are all prey to compulsive and obsessive thoughts. Personally, I tend to be overcome by a sense of dread when I am out of the office (for too long). My completely illogical fear – which I just can’t get out of my head – is that the markets will go into meltdown while I’m away. A recent business trip to Guatemala and Mexico City was no exception to the rule, especially since the performance of financial assets…

MARKET INSIGHT — October 2019

Central bankers have done their job. What next?

Whether coordinated or uncoordinated, central banks took stronger action in September. This was due to an uncertain economic cycle, tooweak inflation despite low unemployment rates and strong trade frictions.

The attacks on oil sites in Saudi Arabia came too late in the month to influence

MARKET INSIGHT — September 2019

Heatwave and summer storms spread to the financial markets

The resurgence in volatility and a consolidation in the equity markets over the summer proved our approach to be the right one. This was firstly the case because we faced the…

MARKET INSIGHT — July 2019

Gone with the wind

At the end of a hectic May for the global financial markets, one could justifiably conclude that investors had grown more averse to risk, in the wake of growing economic uncertainty and unabating geopolitical tensions. In the past few months, we’ve been wary of market player sentiment – which tends to…

MARKET INSIGHT — May 2019

A new record high in New York!

The S&P 500 achieved a new all-time high in recent weeks, buoyed by a stabilisation of the global economy thanks to Chinese economic data and US GDP figures for Q1 2019, in particular. April’s rise in risky assets was also helped by a satisfactory earnings season and political tensions – the results of…

MARKET INSIGHT — April 2019

Liquidity alone will not be enough

After two strong months for risky assets, the situation was patchier in March. Although the equity volatility remains low, there was some pressure at the end of the month in the wake of economic figures, which do not yet provide any indication of an upturn in the global economy.