In this environment we should finally see an improvement in capex. In the Euro-zone, there is something of a capex recovery taking hold, which can be seen as the corporate counterpart of consumer pent up demand for durables.
17.06.2016 | 13:33 Uhr
Economic Outlook
Some thoughts on global growth
We are fairly confident about the global consumer, but we are a little bit more worried about the corporate sector in DM space. Our base case remains for corporates to remain in expansionary mode, but this outlook certainly cannot be taken for granted. Read more
Asset Allocation
Bracing for Brexit
It might be useful to brace for Brexit and install some Brexit "hedges" in an investment strategy, but one should never forget that one-sided risks do not exist in markets. Read more
Fixed Income
10-year Bund yields drop below 0
Following a weak US payrolls report and increased uncertainty about the UK referendum outcome, core government bond yields declined to new lows. Also UK Gilts benefit from a flight to safety, and therefore from Brexit risk. Read more
Equity Strategy
US equity market is safe haven in turbulent times
The US equity market currently enjoys its safe haven status. Valuations do however not leave much room for disappointment. It is therefore encouraging that we likely have seen the bottom in earnings growth. Read more
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