Opinion Complex and useless finance is still there
While complex finance should be preferred to improve risk modeling, it continues, in times of market stress, to help designing unmanageable and useless complex structured products
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Opinion How Could They?
According to William H. Gross, markets are reaching the point of low return and diminishing liquidity. Investors may want to begin to take some chips off the table: raise asset quality, reduce duration, and prepare for at least a halt of asset appreciation engineered upon a (...)
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Opinion The «French Quants» must relearn to code!
In France, many financial engineers feel some aversion for IT. Some, fascinated by models, don’t consider for a second writing thousands of lines of code…
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Opinion Agricultural markets: « We will never tackle volatility »
According to Michel Portier, CEO of Agritel, market information is often widely known but the weather market is the main factor of influence on agricultural markets...
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Opinion Hard time for sterling
According to Luc Luyet and Frederik Ducrozet, Asset Allocation & Macro Research, Pictet Wealth Management, the sharp drop of the sterling on Friday 7 October at the start of trading in Asia with the currency declining 6% in the course of twenty minutes was the climax of (...)
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Opinion Happiness Runs
A client asked me recently when the Fed or other central banks would ever be able to sell their assets back into the market. My answer was "NEVER". A $12 trillion global central bank balance sheet is PERMANENT - and growing at over $1 trillion a year, thanks to the ECB and (...)
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Opinion Show Me The Money
The U.S. and indeed the global economy is walking a fine line due to increasing leverage and the potential for too high (or too low) interest rates to wreak havoc on an increasingly stressed financial system. Be more concerned about the return of your money than the return (...)
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Opinion Capital Market Pulse
We expect risk assets to continue to grind higher, and maintain our exposure. It might not be time to add too much risk, but we don’t think it’s time to take it all off either.
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Opinion UK Equities: Resurrection of the deplorable asset class!
If the UK equity market was out of favour at the beginning of 2020, it’s even more so now. Until the arrival of three vaccines prompted a wave of market exuberance towards the end of the year, UK equities had fallen approximately 20%. The only two worse-performing equity (...)
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Opinion Are L/S Equity managers concerned by the covid resurgence?
Managers in the U.S. and Europe are continuing to reduce both their net and gross exposures, now converging near their long-term lows. They are selectively selling or shorting stocks that are the most exposed to tighter restrictions, preferring value stocks instead (to (...)
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Opinion Chinese new year: Three reasons why china could roar in the year of the tiger
As the rest world grapples with tighter monetary policy, China is on different easing trajectory, which should be supportive for stocks. It is likely that we are at, or past the peak of regulatory reform. Current valuations provide exciting entry points and (...)
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Opinion Inflation in developed economies is on the rise
Inflation in developed economies is on the rise. Central banks and markets are currently relaxed about the upswing but this will change if economic growth revives from its recent mediocre pace.
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Opinion Brazil’s stockmarket and currency have fallen sharply on concerns about a new political crisis in Latin America’s largest economy
According to Matthew Vaight, Manager of M&G Global Emerging Markets, investors are worried that the revelations could lead to political turmoil and jeopardise the government’s plans to revive the Brazilian economy...
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Opinion Oil markets to barrel forward in 2011
The energy sector is turning a corner and we are at the early stages of a new upward cycle in oil markets, according to Robin Batchelor, manager of BlackRock’s BGF World Energy Fund...
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Opinion SNL Financial: Will Equities Still Boom and FICC suffer in 2016?
SNL Financial data shows how equities and M&A success have helped investment banks offset pain in fixed income, currencies and commodities (FICC) through the first nine months of 2015, a trend they may well need to continue in (...)
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