NN IP: We raise our risk tilt & upgrade Europe
We learned in 2016 that politics is not the only thing that matters. Even though economists and analysts seem to agree that negative shocks will hit us in 2017, investor sentiment has jumped in response to stronger GDP and earnings growth expectations. We have upgraded our risk tilt.12.01.2017 | 15:34 Uhr
Asset Allocation
Clueless?
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Economic Outlook
Some macro issues to keep you awake at night (Part I)
At the start of this new year, one that promises to be exciting for investors, we will kick off by listing a number of issues that are likely to keep us busy this year. We will discuss the first four this week and leave the rest for next week. Read more
Equity Strategy
Capex might finally turn the corner
Interesting to watch this year is the capital expenditure (capex) of the corporate sector. Global capex growth has been negative since Q4 2014. The outlook for this year is positive, thanks to the rise in oil prices, an improved earnings outlook and increased business confidence. Read more
Fixed Income
EM debt remains guarded against large capital outflows
After an initial correction, emerging market debt (EMD) has held up quite well since the US elections. This is partly the result of strong economic data in China, while the interest rate differential between emerging and developed markets is still very wide. Read more