Choose your country :
Choose your country ?
Sacrificing some portfolio liquidity can be profitable. Ultra-low bond rates, equities that are highly volatile and thus sometimes seen as too expensive, the search for yield and the search to capture a liquidity premium are all pushing institutional investors toward the unlisted or «real asset» universe.
Philippe ITHURBIDE, Mickael BELLAICHE
Marie NAVARRE, Aurélie RENARD, Jérôme TENDEAU
Edmond LEZMI, Hassan MALONGO ELOUAÏ, Thierry RONCALLI, Alexandre BURGUES, Raphaël SOBOTKA, Edouard KNOCKAERT
Global Head of Research
Elsa BLOTIERE, Julien GROUILLET, Aurélie RENARD
This Discussion Paper concludes the series devoted to our market analysis framework. The three previous papers demonstrated the existence of long cycles, which last approximately 50 years and can be divided into four parts, named according to the seasons: spring, summer, autumn and winter. These long cycles contain shorter cycles—lasting several years that correspond to our day-to-day reality—that they influence via the monetary policies of central banks.
Three tensions between society and the individual are at the origin of human rights: the individual’s desire to preserve his freedom, the search for equality, and the quest for brotherhood. After the second world war, the United Nations translated these rights into international texts.
Marie NAVARRE, Arnaud PEYTHIEU