Over the course of the last few months, we observe that not only developed markets have been enjoying good returns, but also emerging markets rise along with them. As the […]

It seems that analysts around the world are singing from the same chorus book, called Reflation. If we could define the latter we would say that it refers to a […]

A year ago equity and commodity markets were in a panic mode. Chinese tremors, fears of deflation, oil prices below $30 a barrel, declining commodity prices (such as copper), and […]

The equities market continues its upswing trend and as its tide rises, other equity markets around the world follow it too, given that expectations and economic fundamentals in other places […]

In last week’s commentary we wrote that the earnings, production, and income pictures look good and that the market has legs to make further earnings. The market continued in its […]

More than 65% of companies that have reported earnings in the last few days have beaten estimates, which is a little bit higher than the long-term average. So and as […]

Collective hallucinations are dangerous. Undershooting carries risks, but overshooting could have much more serious consequences. Ignoring history is detrimental. Hubris backfires and lack of foresight demonstrates foolishness. My fear is […]

The market celebrated a Dow Jones Industrial Average that reached 20,000 yesterday. Is this too much of good news? Is it sustainable and could it be that investors are carried […]

One of the main issues debated at the Davos conference this week is the possibility of a new trade regime, as President Trump takes office. Discontent with globalization and the […]

In last week’s commentary we covered mainly the initial outlook for equities. In today’s post we would like to present an initial outlook for other markets such as bonds, commodities, […]