Opinion Review of the chinese economy at the end of the summer of 2019
The monthly data published at the start of the second quarter are fairly mixed and show no tangible signs of growth momentum improving in China. The GDP published for the second quarter has recently confirmed this sentiment. The slowdown at work since the start of the decade (...)
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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 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 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 Brexit update – the end of the beginning
Multiple sources suggest that UK and EU negotiators have reached a draft agreement on Britain’s terms for leaving the EU (the withdrawal agreement) including backstop mechanisms designed to ensure that Brexit does not create a hard border in Northern (...)
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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 How Brexit will impact the UK economy?
According to Daniele Bianchi, of Warwick Business School, is an Assistant Professor of Finance and researches financial econometrics, asset pricing and commodity markets, on the whole, the negative impact of Brexit on exchanges rates, on the political landscape, and on (...)
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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 Bond bubble today and tomorrow ... Bond crash the day after tomorrow
Long-term rates that can not rise on short term, despite the abysmal public deficits ...
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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 Is inflation the solution?
This is often the argument put forward to deal with the debt ! The acceleration in inflation would iron out all the root causes of the crisis or even make them disappear, the economy then suddenly regaining its lost (...)
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Opinion Mathematical models in finance and embedded risk underestimation
The statistical assumption of normal (log-normal) distribution of stock returns (prices) is not that strong and tail events’ occurrence is largely undervalued. Nevertheless, this modeling framework has been widely used for strong (...)
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Opinion European equities: Think big!
The current trend on european small cap will continue, reversing a period of almost ten years in which small caps performed better than large caps. In the period ahead investors should think big, focussing on large companies with fat balance sheets and generous (...)
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Opinion Central Banks : the global financial system trashcans ?
Institutionalized monetization condemns central banks to become the international financial system trashcans and, despite German opposition, it is likely to be the same for the ECB.
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