What should we make of Republican policy makers’ and President-Elect Donald Trump’s plans for higher spending and various tax cuts? Find out in the latest #Fidelity research note written with Dierk Brandenburg
Available here
After the Brexit referendum, Italy, and Italian banks, move onto the radar as the next source of political shockwaves. In our latest note with Federico Wynne, available on the Fidelity International website, we discuss the implications for fixed income investors of what is going to be a hot Italian summer. Read all about it at the following link!
https://www.fidelity.de/static/pdf/institutional/fidelity-a-hot-italian-summer.pdf
The Brexit referendum is around the corner. But can the UK afford to leave? Read out thoughts in our latest paper. Available online on the Fidelity website. Enjoy!
Click to access can-the-uk-afford-to-leave.pdf
Helicopter money? Make sure you read our checklist before taking off. Our latest paper available online on the Fidelity website. Enjoy!
https://www.fidelity.de/static/pdf/institutional/checklist-for-wanna-be-helicopter-pilots.pdf
A great infographic on the upcoming Swiss Gold Referendum on Nov 30th by Visual Capitalist. Something the market has been focusing on of late, but that could gain further momentum as the referendum date approaches.
Continue reading
I found this very cool slide deck by professor Ed Dolan, explaining in very simple terms Quantitative Easing as done by the Fed from 2008 to 2014. A textbook model explaining what worked and what did not. Enjoy!
Check out some of Dr. Dolan’s other posts on his blog, available here.
The last few days have been quite a rollercoaster ride for market participants, and the “correction” in equities and rates has left a lot of people counting losses. Not a pretty sight. Reasons put forward for the moves have been several: stretched positioning, herd behaviour by asset managers, the usual “it’s the algos stopping out”, and, on a broader level, regulation and the impact it’s having on liquidity in most asset markets.
As we still digest this week’s U.S. Non-Farm Payrolls report, I have put together an overview of what is going on in the world, and where I think we are heading.
In particular I have recently been thinking a lot about inflation, or lack of any, that we are witnessing on a global scale. Whether this trend reverses in the coming months will be extremely important for both Wall Street and Main Street.
I am pretty confident that this will not happen, that deflation or flat lining prices are here to stay, and this will lead to anaemic growth for quite a few years, as debt sustainability will continue to be an issue. Here’s why. Continue reading
Anyone who has some international travel experience knows that airports provide visitors with the first impression of a host country, and first impressions matter.
I must have travelled to the U.S. about 10 times, but I still remember vividly the first time I flew over to New York JFK. When I got there, I was welcomed by a sense of chaos, queues, and of a place that felt generally “old”, as did the rest of the United States infrastructure. Airport runways, roads, railways were and still are far below the standards expected from a country that’s seen by many as the centre for innovation, where stuff gets “done” and when, if something does not work, it gets fixed.
The discussion about the States’ crumbling roads and bridges and inadequate airports and railways is not new, but little has been done by a stalling Congress to address the issues, as the ballooning deficit eats into the funds required to maintain, let alone improve the existing network.
It is no surprise, therefore, that the latest Report Card for America’s Infrastructure, issued by the American Society of Civil Engineers every 4 years, gives the US a disappointing D+.
Source: Financial Times; ASCE
The issues that need to be solved are several Continue reading
This week’s FOMC meeting got quite a few observers worried that the market might be pricing in too benign a path for US rates when compared to the median forecasts for Fed Funds issued by the Committee for the next two years.
As markets start getting a little jittery, three themes in particular have caught my attention, amidst the ton of material that has been published over the last few days. Here’s an overview, with links to all relevant references. And no, I won’t mention Scotland… Continue reading
MacroCentral.com 