“Equity markets may not be cheap, but there are some bargains that are beginning to emerge,” says Luca Paolini, chief strategist at Pictet Asset Management.
Strong Q2 corporate earnings are overpowering trade fears. Our preference is for growth assets over yield assets; we have upgraded equities and spreads.
Strong corporate earnings are getting the upper hand over trade fears, and we also note a preference for growth assets over yield assets. In our asset allocation, we cut real estate to neutral.
Die Rentenmärkte sind in Europa von wachsender politischer Unsicherheit, in den USA vom Zinserhöhungskurs der Fed geprägt. Moventum nutzt deshalb vor allem Instrumente, die von einer erhöhten Unsicherheit an den Märkten profitieren.
Three themes have emerged to challenge the Goldilocks narrative that supported risk assets through the second half of last year: signs of diverging growth across major economies, a stronger US dollar and material risks of a broadening trade war. These ‘three bears’ are likely to make for a much more challenging environment for risk assets going forward.
While political news continues to move markets, there are reasons for optimism. Our allocation stance remains unchanged.
Bonds are likely to take the upper hand over equities this summer, as liquidity dries up and economic growth slows.
Die Emerging Markets haben mit Wachstumsschwierigleiten zu kämpfen, daher lohnt ein Blick auf neue Wachstumsmärkte.
While political uncertainty remains a source of volatility, there are reasons for optimism. Our allocation stance remains unchanged.
Emerging market assets have been under pressure for several months. Initially, this was triggered by higher US interest rates and a stronger USD. This was exacerbated by concerns about external fragility, notably in Argentina and Turkey, and the resulting outflows from the asset class.
