Central Bank Balance Sheets and Market Returns
A lot has been written about the impact of Quantitative Easing. And while it is arguable whether or not the extraordinary measures taken by central banks have had any significant […]
A lot has been written about the impact of Quantitative Easing. And while it is arguable whether or not the extraordinary measures taken by central banks have had any significant […]
The relationship between economic growth and equity returns is much debated. Not so strange if you look at the graph below. From a distance the two certainly look related. Click […]
Historically, September has on average not been a good month for equities. A well-known fact, which has been mentioned many times before. But, that does not mean it’s useless to […]
Another wave of business confidence data (ISM, PMI’s, etc.) has reached the markets of late. As always, there were beats and misses. But over the last couple of months these […]
China’s economy is slowing. GDP growth was 7.5% in the second quarter, the least since the global economy collapse early 2009. The deceleration is also visible in monetary factors like […]
The Chinese producer price index (PPI) came in lower than expected today. The PPI for June measured -2.7% (yoy), which means the PPI has been negative for the last 16 […]
The Nikkei has recently outperformed all of its relevant peers by a fairly wide margin. For example, since the end of October 2012, Japanse equities have returned some 30% more than […]