Communications

Market Commentary European economy   is expected to have another recessionary quarter due to the ongoing lockdow ns. ECB announced more support and that helped equity markets to perform handsomely during the month of March. In the US, indices reached   new   highs   as   grow th   expectations   are  high due to   the massive fisca l and  monetary […]

Market Commentary Markets remain focused on the evolution of vaccination around the world and the support provided by Central Banks and Governments. Thus, the “buy the dip” mentality remains fully in place. The biggest concern right now is the increase in yields. Even though it is difficult to reconcile low yields with higher inflation expectations, […]

Market Commentary After a euphoric start for the world’s stock markets, January ends with a correction that we consider healthy in view of the extreme overbought conditions. The market continues to look to the second half of the year, where a strong rebound in activity is expected once a large part of the population has been vaccinated. […]

Market Commentary Equities continued the move up, helped by the beginning of vaccination. Meanwhile, house confinements are spreading across several countries and another recessive quarter looms in Europe. Equity valuations look very expensive, but market argument is that they are fairly priced when compared to bonds. Our thought is that if bonds are extremely expensive […]

Market Commentary The best month in history for many stock indices, driven by advances in the development of some vaccines. The sectors that were hardest hit during the Covid-19 crisis were obviously those that performed best. Many indices reached new relative highs since the rebound we have seen after the March lows. The reaction to […]