NN IP: Where are we now?

Economic Outlook: BoJ surprises with negative rate move 

Japanese reflation is about the feedback loop between income and spending as well as the feedback loop between profits, prices and wages. Read more...

Asset Allocation: We decided that a more balanced allocation stance was justified again

We brought our equity stance back to neutral and re-introduced a small underweight in commodities. We kept our neutral stance on fixed income spread products and government bonds and our longer-standing small overweight in global real estate. Read more...

Fixed Income: A mild search for yield is likely as central banks turn more dovish

Central banks may have to come to the rescue of financial markets again and appear inclined to continue doing so. At the ECB’s January meeting, President Mario Draghi clearly indicated the bank’s determination to do more at the upcoming March meeting. Read more...

Equity Strategy: In an otherwise challenging market environment, central banks came once again to the rescue as the Bank of Japan surprises

We upgraded Japan from a small to a medium overweight. Relative earnings momentum is strong when compared to the US or Eurozone markets. Read more...