Last Christmas, the markets gave investors a fright. This year, to save us from tears, the central banks gave us something special. Equity markets delivered fantastic returns in 2019. The MSCI World Index was up 28%, led by US equities
In 2018, earnings were growing at double-digit rates, while equity markets were trading down. In 2019, however, earnings stagnated, and equities rose substantially. What a year! From today's point of view, market comments from one year ago are a fun
Investment Traffic Lights Global equities have had a miserable final quarter, as have many other asset classes. A forerunner for significantly worse times or exaggerations amid higher uncertainties? We suspect the latter.
Uncommon truths 2018 has been a difficult year for asset allocators, especially those based in USD. Investors are less confident than a year ago, which may be a good sign. Much depends on the economic cycle.
Back to Reality 2018 has been a disappointing year for investors. After the stellar investment returns of 2017, perhaps it was always likely to feel this way. As the Goldilocks economic environment of 2017 gave way to a more difficult
Weekly Economic Commentary September 15, 2008, is a day that I will never forget. I was working for the Federal Reserve at that time, based in Chicago. My office phone rang early that morning: it was my counterpart at the
Investment Strategy For global equity markets 2017 can be summed up in two facts. Firstly, realised and implied volatility fell to historic lows in the main asset classes and currency zones. For example, realised volatility in the US equity market
Strategy Espresso In 2017, `risk-on’ asset classes fared well as markets were buoyed by the synchronised global recovery. At the time of writing, it is widely expected that all OECD countries will post positive growth for 2017. Central banks played a
De wereldeconomie bereikte in 2017 zijn beste conditie in meer dan een decennium. De bedrijfsinvesteringen trokken aan door de versnellende winstgroei en het toenemende vertrouwen, terwijl opkomende markten deelden in het groeiherstel van de ontwikkelde markten. Zo ontstond een breed
Investment Outlook It’s been another good year for investors with strong returns having been delivered across a broad range of asset classes and investment strategies during 2017. Some commentators will no doubt have been surprised by this positive outcome. At
Lesson 1 – the madness of crowds The multiplying frenzy surrounding bitcoin is being fed by little more than price momentum (Figure 1). There has been no commensurate (or even perceptible) change in the fundamental prospects of the crypto-currency this
Lessons from 2017
👤BlackRock 🕔13:02, 2.Jan 2018Weekly Commentary We draw lessons from a year that saw surprisingly large returns, including on the role of steady growth, low volatility and political risk. Major developed market central banks raised their 2018 growth forecasts last week, while several emerging
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