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The fascination of fiscal stimulus

The fascination of fiscal stimulus

A growing number of investors have become increasingly concerned as of late that central bankers are fast running out of monetary ammunition. Those investors are beginning to question whether central banks still have the capacity to support the economy and ...

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From smart beta indexing to factor investing

From smart beta indexing to factor investing

Over the last few years, interest among investors in indexation has driven asset managers to develop new forms of indexation also known as smart beta. Raul Leote de Carvalho, co-head of Financial Engineering at BNP Paribas Investment Partners, explains that ...

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US taper tantrums and rate resets

US taper tantrums and rate resets

In recent months, many investors have greatly reduced the odds of the Federal Open Market Committee (FOMC) maintaining a steady dose of policy rate increases over the medium term. By the end of April, the combination of disappointing first quarter ...

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“Smart food”: because all that is sugary is not so sweet for the environment

“Smart food”: because all that is sugary is not so sweet for the environment

The Business and Climate Summit (an annual forum for businesses, investors and policymakers on climate action), seeks to set out a roadmap for how business, in the short, medium and long term, can take advantage of a swift transition to ...

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Economic trends somewhat better, but a June hike is unlikely

Economic trends somewhat better, but a June hike is unlikely

Key takeaways: During the week of 16 May 2016, although we saw several economic data releases, it was actually the Fed’s minutes which created the most stir in financial markets. Consumer prices, as measured by the CPI index, increased 0.4%, ...

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US Presidential elections: which political party is best for the S&P 500?

US Presidential elections: which political party is best for the S&P 500?

US Presidential elections inevitably lend themselves to speculation about the potential impact on the US economy and financial markets. Periods of robust or weak economic growth become associated with the leader at the time, regardless of the president`s actual influence. ...

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Charts of the week – Negative interest-rate policy (NIRP)

Charts of the week – Negative interest-rate policy (NIRP)

Exhibit 1: For many of the world’s major central banks, policy rates remain ultra-low and indeed a number of them have adopted  a negative interest-rate policy. This graph shows changes in official rates of the Swiss National Bank (SNB), US ...

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UK GDP in 2016: do recoveries really die of old age?

UK GDP in 2016: do recoveries really die of old age?

Business cycles, like “bull markets,  are born on pessimism, grow on scepticism, mature on optimism and die on euphoria.”   Based on a quote from Sir John Templeton The recovery in UK GDP appears to be running out of steam. ...

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Why Indonesia’s growth recovery expectations remain intact despite softer Q1 GDP

Why Indonesia’s growth recovery expectations remain intact despite softer Q1 GDP

On 4 May 2016, Indonesia’s first quarter GDP growth data came in at 4.9% YoY, which was below consensus expectations of 5.1% YoY, and slightly down on the 5.0% YoY growth figure posted in Q4 2015. The slowdown was mainly ...

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Commodity currencies: temporary or permanent recovery?

Commodity currencies: temporary or permanent recovery?

Year-to-date, commodity-influenced currencies such as the Australian, New Zealand and Canadian dollars along with the Malaysian ringgit, Brazilian real and Chilean peso have all posted material appreciations against the US dollar, which have partially reversed some of the sustained depreciation ...

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