Global Investment Views August 2019
Friday 26 July 2019
Global Investment View, News
Testing new records
Financial markets have been enjoying a record-breaking run of late. The tide that lifted all boats was the new wave of ultra-accommodative monetary policy, at this stage announced but not yet delivered. The conviction that central banks (CBs) will step in again to avoid excessive deterioration of the economic outlook, in the absence of any material sign of inflation, was the main driver of the recent rally. The overall narrative in the market is that the glass is half full. The economic cycle will be extended by CBS, interest rates will remain lower for longer and risk assets will remain well supported: credit and EM by the hunt for yield, and equities by the repositioning of investors that are late joining the party. This is all taking place against a backdrop where overall, valuations are less compelling than they were at the beginning of the year, although are not too stretched. All good then? READ MORE
Investment Talks Liquidity October 2019
Recent developments: A few high-profile fund suspensions have recently driven the focus back to market liquidity and how this can affect the ability of funds to meet certain redemption scenarios. Despite ample liquidity at the macro level, some areas of strain remain at the micro-level and could worsen in case of a material deterioration of economic conditions, a recession or a spike in volatility.
Investment Talks - US President Impeachment October 2019
The Democratic Party has announced the opening of an impeachment inquiry against President Donald Trump following revelations that he pushed Ukrainian President Volodymyr Zelenskiy to investigate the son of Democratic opponent Joe Biden. The impeachment process is long and articulated.
Cross Asset Investment Strategy October 2019
Central banks have confirmed the shift to a much more accommodative stance.