NN IP: The cyclical strength in markets
Over the past years, pessimism about the global growth outlook has increased. Valentijn van Nieuwenhuijzen puts this “Japanification” scare in a historical perspective and sees increasing signs of a turn in the cycle.27.10.2016 | 14:36 Uhr
Asset Allocation: The cyclical strength in markets
Is the cycle finally turning up? It almost sounds like a broken record to raise this question. So many times over the last decade have people wondered if stronger growth was returning, to be disappointed almost every time. As a result, “Japanification” and “Secular Stagnation” have become widely used labels to describe the state of being of the European and US economies. Read more...
Economic Outlook: ECB expected to announce QE extension in December
Markets became a bit nervous as certain sources reported that the ECB could announce some form of tapering at its December meeting. Senior economist Willem Verhagen does not agree and explains why he expects the ECB to announce an extension of its QE programme. Read more...
Equity Strategy: We upgrade Japanese and Eurozone equities
The US elections are nearing and despite the uncertain post-election political landscape, we expect the positive trend in US earnings to continue. We nevertheless downgraded our US equity positioning as we currently see more value in other markets. Read more...
Fixed Income: Inflation expectations on the rise
Since 10-year government bond yields bottomed in the summer, inflation expectations have started to rise in the US and Eurozone. In both regions we have overweight positions in inflation-linked bonds versus nominal bonds. Read more...