News

04.02.2016

Unbalancing the economy. The odd fate of the low interest rate policy

World economy and global finance looks more and more unbalanced despite all the efforts made by Central banks. Whose faith in the low/negative interest rate policy is not only ineffective but probably damaging.

 
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04.02.2016

Positively negatively

In an apparent volte face, the Bank of Japan introduced negative interest rates, much to the surprise of the markets. By targeting only marginal transactions, the BOJ is more similar to the approach taken in Switzerland, Sweden and Denmark than by the ECB. The market reaction...

 
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04.02.2016

Waiting for ECB: more easing in March

 
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03.02.2016

Falling oil price benefits pickups and the like in the US

The share of light trucks (such as pickups and heavy sport utility vehicles) in total vehicle sales has increased noticeably in the US of late, reaching a new high of over 60% at the end of 2015. This came at the expense of conventional passenger car sales. The huge slide in oil prices...

 
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03.02.2016

Italian banks: from gold to kryptonite

In 2016, fear regarding asset quality (high stock of NPLs, regulatory scrutiny, lack of disposals due to pricing differences), as well as funding, lack of progress on M&A and investors’ high exposure to Italian shares, all drove underperformance

 
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02.02.2016

The Great Escape from China

Since 2016 began, the prospect of a major devaluation of China’s renminbi has been hanging over global markets like the Sword of Damocles. No other source of policy uncertainty has been as destabilizing. Few observers doubt...

 
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02.02.2016

Central Banks: BoJ’s action reinforces market expectations of ECB depo rate cut

The BoJ’s decision to move into negative territory for the first time in its history has reinforced market expectations of depo rate cuts by the ECB in 2016

 
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02.02.2016

Equities: reduce weightings into tactical bounce (analysts)

We take equities down to benchmark and reduce our year-end S&P 500 target to 2,050 from 2,150 (having already reduced our equity weightings to the lowest since 2008 on December 2nd).  Our tactical indicators gave a buy signal on January 21st (which normally leads to a 3-4% bounce, which we have had), but we have decided to turn more cautious on the back

 
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01.02.2016

Energy market outlook: all eyes on supply 

Earnings season has begun, which should provide a guideline for how US oil and gas production will fare in the current low price environment. Producers continue to shore up finances through divestitures and dividend cuts, among other things.

 
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01.02.2016

January final manufacturing PMIs: slowdown confirmed

Euro area January final manufacturing PMIs were unchanged from the flash reading at 52.3, consolidating December's one and a half year high. Lower output and new orders...

 
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Events


Semptember 2015
  • 22
    Jan

    The caspian week conference is a meeting point of visionaries, market leaders and experts with the f

  • 22
    Jan

    The climate transition creates opportunities and risks, and financial institutions and corporations

  • 22
    Jan

    Seit über 30 Jahren ist die ZfU International Business School Gastgeber für die angesehensten Inve

  • 30
    Jan

    Over 150 Fintechs CEOs from all over the world will be in both panels & interviews and on this stage

  • 31
    Jan

    From 2018 onwards, Switzerland’s financial fair will only be open to professional investors. This

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