NN Investment Partners: Super blooper Draghi disappoints
A valid question in this environment is why the ECB should step up the pace of easing. The answer resides firmly in the process that drives inflation. Here inflation expectations play a leading role.10.12.2015 | 16:35 Uhr
Economic Outlook: Euro area needs more easing
With the Eurozone economy showing solid growth momentum, one might ask why the ECB should step up the pace of easing. The answer is in the process that drives inflation. Inflation expectations play a leading role.
Asset Allocation: Super blooper Mario
Super Mario is human after all. “Super Mario” Draghi had built up quite a reputation in markets in recent years. He was willing to “do whatever it takes” and by hypnotizing markets with his willingness to act, he often delivered the desired results without even having to act.
Fixed Income: Anchored inflation expectations would be major support for credits
In general, spread products had a lacklustre year. On the positive side was EMD Hard Currency, which may sound surprising given the emerging market turmoil. On the negative side were European Investment Grade credits, which didn’t live up to their defensive characteristics.
Equity Strategy: Eurozone reflation trade still valid
Several important meetings this month so far did not deliver the outcomes that markets had desired. Both the meeting of the ECB and the OPEC resulted in negative market performances. Markets now look forward to the Fed meeting next week.