All eyes on Europe this week with the GREXIT bluffing drama reaching a climax. More generally, Europe has been in the limelight since the beginning of the year: GREXIT, ECB Bond purchases, war in Ukraine, SNB’s surprise announcement. Today, we escape this mediatic buzz as we try to look ‘next to the box’, namely to Japan and Abenomics (or what was last year’s hot topic). We believe this story could come back into the limelight over the next few months. Read more... http:/
In our late December year end review, we gave the current cyclical upturn the benefit of the doubt. We were looking for the following positive developments to confirm this stance: - On the sectors front, early cycle movers really needed to reinstate their uptrend on a relative strength basis.
- Internationally, non-US markets needed to show some pick-up (the world needed other successes next to the US).
- Cross asset, equities needed to outperform Long dated treasuries aga
After many months of low activity, markets finally got going mid last year. Was it the anticipation of an end to US QE, war in Ukraine, the Saudis dumping oil, Abenomics, the SNB’s surprise move, GREXIT or anticipation of ECB’s own QE? It was probably a bit of all. For sure, the last 6 months have seen large directional moves in many asset classes. Over the last couple of weeks, some of these trends have started to correct. We will take this opportunity to use our FinGra