Q4 Outlook: Further Caution is Advised

Even though the short-term recoveries on the stock markets may suggest it – the markets remain volatile, and, in our view, investors’ portfolios should be defensive until further notice.   In view of increasing inflationary pressure, the central banks (especially the ones in the USA and Canada) are expected to…

The Specter of Inflation is Back

The stock markets are nervous, and the number and intensity of fluctuations are increasing. The latest sales trigger was the 4.2% rise in US consumer prices in April, the highest in 39 years. After decades of absence, inflation seems to be coming back and with it the expert debates about…

Stock markets: Sell in May and go away?

The global stock prices, and with them corporate valuations, have reached further record levels. Within the segments, the winners take turns again and again, sometimes it is large or small-cap technology stocks, then again cyclical industrial stocks or even retail and consumption. Good fundamental data from China, positive labor market…

2021: Growth

The Capital markets made a strong start to the new decade. A new US president spreads optimism and disposes of a relatively high potential to reshape internal and external politics. Numerous economic indicators such as industrial production, new orders and the number of foreign investments, signal a strong upswing for…

With optimism in the new year 

One of the most turbulent years in modern history is coming to an end. The Pandemic has left huge scarves on many who have lost loved ones or struggled with their personal or professional livelihoods. While this applies to all facets of life, the lockdown’s impact on investors has been…