Insights

Financial market risk is rising. Central banks are stepping up efforts to dismantle 13 years of massive disaster stimulus programs. Portfolio risk is increasing, as stocks and bonds from start

Financial markets should probably take the new strain of the Sars-CoV-2 rather seriously. Its higher infectiousness increases required level of herd immunity by quite a bit. More people will have

The good news keeps arriving regarding the CoViD-19 vaccine together with a continued increase in the infections worldwide. We can now be reasonably certain that the pandemics will be brought

The joint statement from Pfizer and BioNtech of successful phase three trials of vaccine against CoVid-1 has the potential to be the next game changing event in the SARS 2

The Covid pandemic (a once in a century event, one hopes) again accelerates briskly across Europe. The US Federal Reserve Bank has revised its policy objective (a once in three

A bungled response in the USA to the pandemic now threatens to derail the global economic recovery. The US economy will likely shrink by 3-4% in 2020-22. A Federal Reserve

On 25 May 2020 we wrote that something was afoot in the financial markets. We observed that both bond markets and stock markets were gaining on a global scale. It

We are getting worried. Not about the progress of the Covid-19 pandemic, but about specific areas of the financial markets. We have a sneaking feeling that the markets are heading

Data now indicate that very few people under the age of 60 get symptoms when they are infected with the disease and even fewer die from it. Infections and deaths

Once the Coronavirus has been successfully brought under control, the financial markets will begin to discuss who to blame for the abysmal investment results. Only when the tide goes out do

The growth rate of the COVID-19 virus is falling worldwide, and a few countries are now taking steps towards relaxing the lockdown initiatives. We expect that several countries will announce

Could the global economies bear to simply make the private sector whole? Compensate the private sector for the brutal drop in economic activity that looks increasingly likely? Under a set

The majority of newspapers and analysts are looking for a financial crisis. In our view we are in a credit crunch, potentially heading straight for a credit crisis. A financial

This week’s most important investment decision is to start shorten duration of government bond portfolios. We also recognise that a shift towards a risk-on episode is in the offing as

Through more than a month we have recommended zero allocation to risk assets and only to invest in recession assets. We have been adamant in our dire warnings about the

We reiterate our view that the financial market sell-off in risk assets is likely to deepen and we repeat our recommendation to reduce exposure to stock markets and high-yield bonds.

Uncertainties dominate, and the stock market sell-off will continue. Sell equities and high yield bonds and Buy US long bonds. We reiterate our view that the financial market sell-off in risk

Uncertainties dominate, and the stock market sell-off will continue. Sell equities and high yield bonds. Be careful to separate known facts from hopes and guesswork. When trying to get our heads

Apparently we are in for a new round of Chicken. The Greek government during the weekend presented its wish list (or demands, if you like) to the rest of the