Only one thing is certain at the beginning of this year: 2016 is a year of uncertainty! Ignoring […]
Equity markets in 2015: Greece, China, oil, central banks and volatility…Enough is enough! It is even harder than usual […]
Perspectives for economic growth in 2016: a mixed bag… In 2015 economic growth extended the weak and halting trend in […]
Markets opened the New Year sharply down, occasioned by crashing Chinese equities, intervention by People’s Bank of China in the […]
On 16 December 2015 the Federal Open Market Committee (FOMC) took the historic step of raising the target range for […]
2015 was an underwhelming year for emerging market equities. There was wide dispersion between the returns of individual markets, with […]
There was very little new information about the policy outlook in the December FOMC meeting minutes. On the surface, it […]
US Federal Reserve announced it would raise short-term interest rates for the first time since the financial crisis.
If investors were expecting a quiet week ahead of the December 16 Federal Open Market Committee (FOMC) interest rate decision, […]
The end of the year is often a time of lists. It is also a time to look back as […]
The major event of the week beginning 7 December 2015 was the European Central Bank (ECB) meeting on 10/12/15, which […]
The ECB proposed several measures to support the eurozone economy and bring inflation closer to its target at the 3 December meeting.
Weak global demand, low energy commodity prices and a strong US dollar have continued to put pressure on the US manufacturing and mining sectors in the US.
Despite Mario Draghi’s reserved statement, the Fed looks set to take the first step towards normalising US monetary policy, finally diverging from the ECB.
The October FOMC minutes seem to suggest a higher level of confidence to start policy normalisation in December, despite certain earlier data weaknesses.
The FOMC appear to be attempting to ‘stick the landing’ despite the predicted challenge of a two-tenths fall in the unemployment rate in the next 2 years.
The FOMC strengthened its language towards the possibility of a rate hike and gradual policy normalisation in the 16-17 October meeting statement.
Markets have continued their grind upwards over the week commencing 19 October, marking a good period for risky assets as the ECB will have wanted.