Asking the Right Questions
ECB: Update on Intensive Preparatory work on ABS Purchases
As expected the European Central Bank (ECB) made no change to monetary policy, with Draghi reiterating the usual spiel that monetary policy will remain accommodative, inflation expectations remain in check and of course the Governing Council is “unanimous in its commitment to also use…
UK Economy Surpasses Pre-Crisis Peak in GDP
The UK economy grew by 0.8% in the second quarter, according to the preliminary estimate from the Office for National Statistics. This was in line with market expectations and marks the second consecutive quarter on quarter increase of 0.8%. Much of the headline news…
Surprise Jump in UK Inflation
UK consumer price inflation rose to 1.9% in June, up from 1.5% in May and above the consensus forecast of 1.6%. Prices of clothing and food items were the key drivers behind the surprise increase, pushing inflation closer to the Bank of England’s 2%…
Equity Markets: Valuation is in the Eye of the Beholder
With many of the major equity indices at or near record highs it is natural to ask whether equity markets are overvalued. First of all valuations differ dramatically by geographical region and second, one’s estimate of fair valuation is to a large degree subjective….
Central Bank Policy and Portfolio Construction
CFA Institute Magazine May/June 2013 Issue CFA Institute Magazine – Central Bank Policy and Portfolio Construction
