NN IP: Summer Love
It seems than most of us have quickly forgotten their Brexit worries or other fear factors. Instead, we are focused on enjoying life in the sun, at the beach or at work behind the screens, where markets calmly drift higher.
18.08.2016 | 14:28 Uhr
Economic Outlook
A closer look at fiscal policy (Part II)
Last week we discussed the determinants of the so-called fiscal multiplier. This week we examine the differences between the various regions, both in terms of the likely size of the multiplier as well as in terms of the ability to engage in fiscal expansion from a political economy point of view. Read more
Asset Allocation
Summer Love
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Fixed Income
Central banks force investors into spread products
It could be because of the summer or the lack of alternatives, but investors are willing to see the market environment through rose-tinted glasses. Challenges however are numerous and could easily upset market sentiment, but so far investors are unmoved by it all. Read more
Equity Strategy
Long-term regional performance explained
A company creates shareholder value if its return on equity is higher than its cost of equity. In the Eurozone, the cost of equity is much higher than in the US, despite all the efforts of the ECB to depress risk premiums. In the US, the return on equity is higher, but the gap with the Eurozone is narrowing. Read more
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