“Action may not always bring happiness, but there is no happiness without action” Benjamin Disraeli In a relatively quiet week for economic and corporate news flow, it’s been the (still) unfolding ‘Greek tragedy’ that has commanded the bulk of the market’s attention. Another deadline has been set for Monday, though whether this is any more credible [...]
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Kevin Gardiner, Head of Investment Strategy EMEA “The report of my death was an exaggeration…” Mark Twain A visit to Asia is always a tonic for a European strategist, even after a Saturday night and Sunday morning spent on the tarmac at Heathrow counting snowflakes. Here, there’s too little growth and too much debt. There, [...]
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‘Death by PowerPoint’ is an ever-present danger at strategy roadshows. Audience participation helps keep it at bay. Recently I’ve asked for a show of hands on two questions. The first is: ‘Who thinks the global economy is in great shape?’ The rolling 12-month response is approximately nobody. The second: ‘Can you name a time when [...]
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“It ain’t what you don’t know that gets you into trouble. It’s what you know for sure that just ain’t so. ” Mark Twain This week for a change I sat through two strategy presentations myself (yes, I felt your pain). It’s important to know when we’re out on a limb, and I wanted to [...]
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“It is a tale told by an idiot, full of sound and fury, signifying nothing…” Macbeth Alas, the calendar doesn’t change the investment outlook. Frustration and confusion about the pace of euro area fiscal integration persists; economic growth is uncertain; and investors have little risk appetite, and are deeply sceptical of financial markets and financial [...]
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This has been another week of waiting, sometimes patiently, sometimes less so for European politicians to do something, anything coordinated. Having been eagerly awaiting a statement from European leaders this weekend, yesterday we received news that the agreement will now be delayed until Wednesday at the latest according to France, Wednesday at the earliest according [...]
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Separating the signal from the noise in this week’s market gyrations tested the senses. The US downgrade played out as expected with the attendant stock market volatility. Add in disconcerting data on productivity and employment costs and the rise in credit default swaps forFrance andGermanyand the global sell-off we are in the midst of, makes [...]
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Markets can’t catch a break. No sooner did the Eurozone’s leaders agree to new, more comprehensive steps to stabilize the peripheral countries’ sovereign credit situations than the US debt ceiling controversy looked headed for catastrophe. No sooner did Congressional leaders reach an agreement with the White House to avoid default than we started receiving a [...]
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Kevin Gardiner is Head of Investment Strategy, EMEA
Greg B. Davies
Greg B. Davies, PhD, is Head of Behavioural Finance
Henk Potts
Henk Potts is Market Analyst
