NN IP: Stecken Schwellenländer Industrieländer an?

Economic Outlook
Assessing the consequences of EM weakness on global growth.
It is hard to predict what the turmoil in China and emerging markets means for global growth. One of the crucial questions is to what extent EM can contaminate DM space. Read more

Asset Allocation
Regime change in global markets.
Over the week we moved a bit more defensive and we remain on guard to adapt more when needed as more volatile markets sometimes ask for a more dynamic allocation approach.  Read more

Fixed Income
Inflation premium is key driver for government bond yields.
EM weakness has materialized in declining commodity prices, a movement to which inflation expectations have been responding strongly over the past year.  Read more

Equity Strategy
An indiscriminate equity market sell-off.
The fundamental outlook has weakened but does not warrant a bear market, especially as behavioural indicators show caution.  Read more