In the recent market turmoil, corporate bonds seemed able to sustain their values. Could we assume that in a future market turmoil they will continue showing signs of immunity? Last […]

Should we always buy the dip? The strategy has worked over a number of years. Is this time different? The blame over the recent market turmoil has identified some usual […]

As a starting point allow me please to summarize what we communicated to our clients during the recent market turmoil. First, let’s review what we perceive are the main causes […]

It seems that we may be in for another tech-earnings party today. As these lines are being drafted, Microsoft and Facebook are expected to report rising profits and anticipation is […]

At the beginning of 2017, it cost $1.06 (USD) to buy one euro. As of today, $1.235 is needed to buy the same euro. Does that reflect US economic weakness […]

As a starting point, let’s briefly review a few of the forces that are shaping up equities in a positive trajectory during at least the first few months of 2018. […]

I boarded my end-of-year flight from Cincinnati to Paris, excited of whom I would meet this year, and as I was boarding I heard a deep voice stating: “You have […]

In the last few days, we had three pretty interesting developments related to the banking sector around the globe: EU developments, Basel 3, and an IMF report regarding China’s banks. […]

The recent data on M3 (a broader definition of money supply that includes money market funds and large time deposits) show that its growth has been 6.5% (year-on-year) and actually […]

Given the fundamental trends, we expect global growth to remain healthy in 2018, and therefore we also expect that the credit risk appetite will also remain healthy in 2018. Having […]