Market flash The headline event in Europe was Brexit being postponed to October 31 at the latest. The agreement will prolong uncertainty but at least there is no short-term risk of a no-deal exit. The April 10 ECB meeting left
Weekly Commentary The path for risk assets to grind higher has narrowed, in our view. We are moderately risk-on but see opportunity to take profits and rebalance. Economic data painted a mixed picture of global growth trends. The 10- year
Strategy Espresso Bloomberg has confirmed that it will add Chinese CNY-denominated bonds to the Global Aggregate, Global Treasury and Emerging Market Local Currency Government indices starting in April 2019. The announcement marks another milestone in opening up and attracting further investment
Weekly digest There an is old proverb that ‘one swallow does not make a summer’, so what should one read into the dole of doves that flew over Washington last week? Without wanting to lean too heavily towards the US
Investment Highlights De vertrouwenscijfers in de Verenigde Staten kwamen afgelopen week per saldo iets lager uit dan verwacht, maar zijn nog steeds relatief hoog. In Europa zakte het vertrouwen daarentegen verder weg. De Franse vertrouwenscijfers voor de dienstensector en de
Weekly Houseview Market visibility is obscured by inconclusive macroeconomic data, seasonal effects and polical uncertaines, yet risky assets are maintaining this year’s posive trend.
The Federal Reserve inspired recovery in equity markets following the Q4 2018 sell-off, continued through February, albeit on a more mixed and less dramatic basis than January. European equities led the way with a return of 4.1% in euro terms,
Weekly Digest Last week I listened to a prominent psychologist talk about how people perform everyday tasks. Contrary to popular belief, there are very few things people can do automatically without devoting some thought to them; try reading a book
Keep a cool head in the risk rally Risk appetite has rebounded in 2019. Equities and other risk assets have performed well, just as various gauges show improving sentiment across markets. We remain modestly and selectively overweight equities – and
Weekly Digest Whenever you do any kind of planning, there are some decisions that are more important than others. Planning for holidays, for example; selecting the destination and the time of travel might be the key drivers that will determine
Weekly Commentary Small cap stocks are on a tear, yet we advise caution on chasing the rally – and favor higher-quality large cap shares. A key theme last week: global stimulus aimed at boosting growth. China announced tax cuts, while
Weekly Review & Economic / Political Events China: The Caixin China General Composite PMI declined to 50.9 in January 2019 from 52.2 in the prior month. It was the weakest reading in four months. EU: The European Commission cut its
Weekly Market Outlook Because of its acute sensitivity to the business-cycle and corporate earnings, the high-yield credit market will have more to worry about this year. For starters, domestic expenditures will no longer receive an extraordinary lift from federal tax
Weekly Commentary We are positive on China’s stock market, even after this year’s rally, but favor a selective approach amid growth and trade risks. Global stocks edged higher last week, while oil prices rose. Meeting minutes confirmed the Fed’s willingness
Weekly Digest Amidst the recent political and market uncertainty it is all too easy to lose sight of the importance of investing for your long term financial wellness. Sophisticated investors are well versed with the “time in the market not
Weekly Digest Amidst the recent political and market uncertainty it is all too easy to lose sight of the importance of investing for your long term financial wellness. Sophisticated investors are well versed with the “time in the market not
Weekly Digest Amidst the recent political and market uncertainty it is all too easy to lose sight of the importance of investing for your long term financial wellness. Sophisticated investors are well versed with the “time in the market not
Weekly Commentary We are positive on China’s stock market, even after this year’s rally, but favor a selective approach amid growth and trade risks. Global stocks edged higher last week, while oil prices rose. Meeting minutes confirmed the Fed’s willingness
The Weekly Brief The recent U-turn of major central banks from monetary normalization to renewed accommodation beat market expectations. In particular, the minutes from the FOMC meeting held on 29-30 January suggested the likely ending of the balance sheet runoff
Growth The third and final estimate of 3Q U.S. GDP growth dipped 0.1% from the prior estimate to 3.4% q/q saar, decelerating from the 4.2% pace in 2Q. The estimate was revised down due to weaker personal consumption expenditures (PCE)
Weekly Digest Ljubljana, Slovenia had the dubious honour of being the destination for a weekend ski trip for me and a handful of Momentum colleagues. It had been 10 years since I last skied and as I stood at the
Growth The third and final estimate of 3Q U.S. GDP growth dipped 0.1% from the prior estimate to 3.4% q/q saar, decelerating from the 4.2% pace in 2Q. The estimate was revised down due to weaker personal consumption expenditures (PCE)
The Weekly Brief Data crunchers are finding little evidence of a growth deceleration in the U.S. so far in 2019. The job market remains buoyant and business surveys signal robust manufacturing activity in January. On the contrary, in the euro
Weekly Digest Last month we launched a new multi-asset income sub-fund within the Momentum Harmony Portfolios, our Luxembourg UCITS fund range. We’ve seen strong demand for this strategy which reflects the low interest rate environment but also a general lack
Weekly Fixed Income Commentary Preferred securities performed best, followed by investment grade corporates and high yield corporates. The municipal bond market ended last week stronger. Non-U.S. markets posted positive returns and modestly outperformed U.S. markets.
