NN IP: To Brexit or not to Brexit, that is the question...
Political risk is on the rise again in Europe and Brexit looms. Our base case is that the British will vote to stay in the EU. However, in politics (as well as markets and the economy) it is very often not about rationality, but about emotion and sentiment.11.03.2016 | 16:36 Uhr
Economic Outlook: To Brexit or not to Brexit
Asset Allocation: Searching for growth
Investors seem to have left panic mode behind, which is reflected in the impressive rebound in risk assets. Further support may come from monetary stimulus, although negative yields pose new puzzles for investors. It might well be that further policy innovation needs to come from fiscal policy makers rather than central bankers. Read more...
Fixed Income: Some reversal in 10-year yields
After the significant fall of 10-year yields in core government bond markets during the first two months of the year, there has been a small recovery in yields in March. Still, 10-year yields are significantly down since the start of the year. Read more...
Equity Strategy: Equity markets staged an impressive double-digit recovery as excessive pessimism was corrected
Global equity markets staged an impressive double-digit recovery from their February 11 trough. The main drivers of this turnaround were rising oil and industrial metal prices, better-than-expected US macro data and the observation that China is willing to kick the can down the road by additional monetary and fiscal stimulus. Read more...