NN IP: Flood of liquidity is lifting all boats
Cash-rich investors (re-)entering the markets and the expectation of monetary policy easing have resulted in a remarkable rebound of all major asset classes since the Brexit vote. This seems logical, as since the start of the century risk premiums have only been higher during the peaks of the Lehman and euro crises.14.07.2016 | 14:51 Uhr
Economic Outlook
Brexit dust is settling but issues remain
Markets have digested Brexit remarkably well, although they are still dealing with the question how to appropriately price increased political risks, which is a difficult task. What’s more, the problems in the Italian banking sector need to be addressed as well. Read more
Asset Allocation
Flood of liquidity is lifting all boats
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Fixed Income
EMD benefits from improved relative risk profile
The global search for yield has been gradually strengthening this year, thanks to expectations of more monetary easing in Europe and Japan and the postponement of tightening in the US. This explains most of the good performance of the EMD categories. The investment case for EMD has further improved thanks to the Brexit vote in the UK. Read more
Equity Strategy
Banking on earnings
On a market level, the Brexit looks to be well-digested, but some dramatic swings have taken place in the underlying assets. The performance split is between domestic and non-domestic sectors and is driven by sterling’s dramatic fall. Read more