-
-
Only the UK and China taking the right fiscal and monetary measures
After yesterday, the S&P 500 dropped below its Mondays close. But only to be followed by Mr. Trumps travel ban, which put pressure on global futures market. Everybody was expecting that after the UK in the morning the US will follow with fiscal stimulus to support the FED. There is no global coordination like we have seen in…
-
“Fed’s urgent decision to cut rates by 50 basis point” by Blackfort CIO Dr. Andreas Bickel
-
Market Watch. February 2020 II
Market Watch. February 2020 II Hong Kong will be the first country to distribute Helicopter money The money helicopter has arrived. In a small side note in the “Neue Zürcher Zeitung” was written: “Hong Kong will distribute an amount of HK-USD 10’000 (roughly USD 1’250 ) to all permanent residents”. Wow! But it seems that this revolutionary step…
-
Market Watch. February 2020 I
-
“Stock indices trade ahead of their fundamentals” by Blackfort CIO Dr. Andreas Bickel
Stock indices trade ahead of their fundamentals. The distance between the 200-day average is in most cases lager than 10%. It is high time that we see a correction or at least a consolidation. But after a zero growth of US earnings in 2019, analysts expect a modest pick up in 2020. Economic indicators do confirm this scenario.…
-
Market Watch. January 2020 I
-
Market Watch. December 2019 II
Market Watch. December 2019 (II) A modest global growth pick up in 2020 Central bank policy stance: Stress in the US repo market forces the Fed to provide liquidity and to buy short maturing treasury bonds. The ECB has restarted their bond buying program. The bank of Japan keeps regularly investing into equites and bonds, while the Swiss…
-
Equity Risk Indicator is in Exuberant Territory
-
Market Watch. December 2019 I
Market Watch. December 2019 (I) Kazakhstan and Uzbekistan – two emerging neighbors Kazakhstan: In July 2018 the Astana International Financial Center (AIFC) opened with the goal to become a hub for financial services in Central Asia. In 2019 Blackfort Capital was the first foreign asset manager who received a local license, opening its local presence. The…
-
Market Watch. November 2019 II
-
Market Watch. November 2019 I
Market Watch. November 2019 (I) Brazil and the US are growing at a moderate pace… The FED cut rates by a quarter point for the third time this year and indicated a pause for further cuts as long as the economy is growing at a moderate pace and inflation stays around current levels. Hours before the…