The wheels of a Circular Economy go round and round - N°5 Th...
Must read articles
Monetary policy
Monthly Cross Asset
5.01.2022
Central banks: a successful hawkish turn
The three major central banks issued restrictive signals last week. The banks have succeeded in changing the course of their monetary policies without harming the markets.
More 5 to 10 minutes
Investment Talks
20.12.2021
14-15 December FOMC review: pressing the gas on taper
Understanding the outcome of the December FOMC meeting and its market implications.
More 5 to 10 minutes
Monthly Cross Asset
6.12.2021
Fed officials’ discomfort is growing with the inflation overshoot: why it will remain cautious
US consumer prices jumped by 6.2% in October, their highest level in 30 years! Deteriorating inflation data have pushed markets towards forecasting a faster pace of tapering and a more rapid removal of accommodation in 2022.
More 5 to 10 minutes
Investment Talks
8.11.2021
Fed tapering begins: mission accomplished
The Fed preserved optionality to adjust the pace of purchases based on the economy and inflation outlook.
More < 5 minutes
Monthly Cross Asset
2.11.2021
The triangle of financial repression
The idea that we are entering a phase of financial repression regularly returns to the fore as real interest rates are negative and nominal interest rates are very low.
More 5 to 10 minutes
Monthly Cross Asset
2.11.2021
Q3 2021: From a recovery phase to an inflationary late cycle
A second derivative stagflationary environment of decelerating growth amid sustained inflationary pressures. The fiscal lever continues to play a pivotal role.
More 5 to 10 minutes
Thematic Paper
16.09.2021
Shifts & Narratives #8 - Post-summer check-up on the regime shift
Investors have enjoyed stellar performances over the last twelve months. A 60/40 traditional global equity/bond portfolio returned around 19% on a one-year horizon, well above even the rosiest expectations of the recovery from the Covid-19-induced slump. The S&P 500 is up +100% from last year’s bottom – an iconic figure that says a lot about the buoyant market sentiment.
More > 10 minutes
Monthly Cross Asset
2.07.2021
DM monetary policies are at a crossroads
Central banks have put in place ultra-accommodative monetary policiesto support economies during the Covid crisis.
More 5 to 10 minutes
Monthly Cross Asset
2.07.2021
EM monetary policies normalisation as the low tide is getting higher
The monetary policy conditions in the emerging markets are still definitely dovish.
More 5 to 10 minutes