What to expect in 2020? For most investors, 2019 turned out to be a great year. Interest rates, which once again dropped sharply during the year, were the driving force behind these excellent results. The most important reference points in 2019 were: · The German 10 year Bund dropped from +0,2% to -0,3% · The US 10 year Treasury Bills […] Financial 21.01.2020
Financial Newsflash November 2019 Fixed Income The ECB as expected announced in September a list of decisions to prop up inflation expectations: the interest rate of the deposit facility was lowered by -0,10% to -0.50%, an APP Asset Purchase Program, a new QE, will kick off as of 1 November, at a monthly pace of EUR 20bn, as long […] Financial 27.11.2019
The wall of worry Let’s start this newsflash with an overview of the current state of ‘the wall of worry’. What is keeping investors awake at night? A current hot-topic is the Democrats’ decision to open an impeachment inquiry into President Donald Trump. We make no judgement on the gravity of this case. However, this procedure could take months, […] Financial 08.10.2019
The disappearance of interest rates Never mind the volatility on the equity markets. Forget about stock prices and their occasionally strong fluctuations. What you have to remember about 2019 is the disappearance of positive interest rates. Feel free to compare Mario Draghi and Jerome Powell to magicians who have performed an impressive vanishing trick. They made the “positive interest rates” […] Financial 12.09.2019
"Less bad is far from good!" These words echoed for a long time in my head after a very inspiring conversation with the most well-known name in Luxembourg in the matter of “Economie Circulaire”: Mr. Romain Poulles from PROgroup. It all started quite harmlessly: a few months ago Lorenzo Bertelli, the heir to the Prada fashion group, who quit his career […] Financial 31.07.2019
Financial Newsflash : July 2019 Bond markets The main driver behind an extraordinary first half of the year 2019 has been an unexpected decline in interest rates. In fact, even the strong performance of the recovering stock markets, which had suffered from big losses towards the end of 2018, were outpaced by the falling interest rates. Just when everyone agreed […] Financial 09.07.2019