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…
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…
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
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…
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…
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…
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.
Joy reigns supreme on financial markets
The risky asset rally that began in January continued into February, with the financial community much more upbeat.
Investors clearly got what they wanted, namely for central bankers to step back and consider the direction of…
