NN IP: Feedback loop between growth and financial conditions

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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