By: John E. Charalambakis | On: July 27, 2017 |

Cheapening the Currency: The Wrong Way Forward

In the last few commentaries we have noted that while equity markets may be stretched, there might still be room to grow given the current macro-circumstances, corporate earnings, and business […]

By: John E. Charalambakis | On: July 20, 2017 |

World Markets, Bank Debt, and Diversification: Earnings and Other Drivers

As many analysts have pointed out lately, the equity markets at the current levels are stretched, but probably not over-stretched. Global equity correlations have been falling this year (from their […]

By: John E. Charalambakis | On: July 13, 2017 |

Substituting for the Credit Cycle: An Optimistic Perspective

There is almost no doubt that the extraordinary measures taken by the central banks around the world over the last several years uplifted equities, lowered cost of capital, increased corporate […]

By: John E. Charalambakis | On: July 6, 2017 |

Valuation Metrics, Currencies, and Portfolio Rebalancing: Kantian of Fichte?

According to most valuation metrics, European stocks trade at a discount relative to those in the US. Consequently, fund managers are on a shopping spree for EU-based equities. As a […]

By: John E. Charalambakis | On: June 28, 2017 |

Reverberations and Growth Prospects: Implications for Equity and Fixed Income Markets

In the last few weeks two developments – related to key issues for the health of the global economy – have been unfolding. The first deals with European banks, and […]

By: John E. Charalambakis | On: June 22, 2017 |

Relevering Balance Sheets and Recalibrating Expectations: The Central Authorities Effect

Current financial and economic conditions in the US as well as in the EU are conducive to higher growth in the second half of the year. In addition, the shaping […]

By: John E. Charalambakis | On: June 15, 2017 |

Bullish Bias and Asset Classes Breakout: Diminishing Safety Margins

Last Friday we observed a divergence among major indexes. The DJIA and the NASDAQ moved in significantly opposite directions. The main reason for the drop in the NASDAQ (which continued […]

By: John E. Charalambakis | On: June 8, 2017 |

Disintegration in the Age of Discontent: Unraveling Realities and the Market

It seems that we are on the verge of a new reality that could resemble the developments of the early 1970s. The global rules and order that were established in […]

By: John E. Charalambakis | On: June 1, 2017 |

Tending the Garden: Credit Risks in the Ocean called Debt

Moody’s downgrade of Chinese debt a few days ago was treated like a non-event. Chinese domestic bond prices did not change and Chinese equity prices actually rose. Is that a […]

By: John E. Charalambakis | On: May 24, 2017 |

Financial Gravity and Paradigm Shifts: What Could Disrupt the Disruptors?

Over the course of the last year, investors poured billions of dollars into emerging markets, seeking higher yields and higher overall returns. Emerging markets have rewarded that trust, and as […]