Asking the Right Questions
Market Recap: Week of May 4th 2015
Market Recap: stronger Euro hurts European equities Most of the major equity indices were in the red last week, following weaker than expected economic data, most notably weak first quarter GDP data from the US and the UK.
The Mechanics of Fixed Rate Government Bonds
Primary Market: When countries issue new bonds they are effectively borrowing from investors, in what is known as the primary market. Buyers of newly issued bonds lend capital to governments in exchange for a fixed payment, referred to as the coupon, up to a specific…
The Importance of a Clear Exit Strategy
Integral to managing money is having a clear understanding of the market environment and being sure on where the exit is.
Has the world gone mad, or is it me?
These words from Ben Howard, the immensely talented singer-songwriter, ring in my head when I think about how much financial markets have been conditioned to respond to monetary stimulus. While central banks have engineered risk free rates on cash to zero (or negative in…
Weekly Market Recap: April 6th 2015
Market Recap Global equity markets edged slightly higher despite mixed economic data, in what was a shortened trading week as US and European equity markets were closed for Good Friday. In Europe, the FTSE Eurofirst 300 closed up 0.6% while in the US, the…
Weekly Market Recap: 2nd March 2015
Stellar month for equities…. Most of the major equity indices moved higher last week despite mixed economic data and speculation that the US Federal Reserve could move on rate hikes this summer. Last week capped a stellar month for equity markets, with gains of…
Germany V Greece: “eureka moment” needed…..
All eyes will be on the meeting of the Euro area finance ministers today and whether some agreement can be reached on the path forward for Greece. Markets will continue to be sensitive to any news flow, in what is really a battle between…
Irish 30 Year Bond Issue & Record Low Long Term Eurozone Bond Yields
Irish Government get €4bn 30 year interest only loan at 2% The Irish government came to the market last week with their first ever 30-year bond for sale, maturing in February 2045 and with a coupon payment of 2%. In the lead-up to the auction it was…
The Year Ahead: Key Considerations
As I consider the outlook for the year ahead I am certain that once again the predominant theme is central bank policy. The investment world is a dynamic place and each week in my weekly musings I try to touch on the most relevant developments. Therefore, I have…
Central Bank Policy and Portfolio Construction
CFA Institute Magazine May/June 2013 Issue CFA Institute Magazine – Central Bank Policy and Portfolio Construction
