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 following graph shows the Global PMI Index (signifying manufacturing activity) is close to its...

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 cycle when incomes and spending are rising which in turn boost growth. It’s interesting to note that such...

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 corporate earnings recession had infused fear in the markets. Now, a year later we found...

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 around the globe (Asia, Europe) are rising too.  A couple of weeks ago we...

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 upswing mode ignoring the above-average high multiples, but also the rising uncertainty...