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Market Analysis

  • Is a hike in Fed’s rate a risk for corporate bonds?

    Is a hike in Fed’s rate a risk for corporate bonds?

    Given the ongoing debate about the imminence of a rate hike in the US, fixed income investors are due to wonder what this would imply for their portfolios. To start with, I would clarify that the yield for a corporate bond can be theoretically...

  • Adding European technology to your long term investments

    Adding European technology to your long term investments

    Headquartered in Veldhoven, the Netherlands, ASML makes the machines that are used to manufacture electronic circuits. ASML designs, develops, integrates, markets and services lithography systems for the semiconductor industry. ASML’s main...

  • Shipping movements

    The following ships are expected in Malta: The Hansa Narvik from Mersin to Mersin, ANL Windarra from Damietta to Genoa, the HH West from Tobruk to Tobruk, the Janina from Sfax to El Khoms (all CMA CGM Malta Agency Ltd), the MV Eurocargo Venezia...

  • What to expect from today’s FOMC meeting

    What to expect from today’s FOMC meeting

    The US Federal Open Market Committee is due to meet today. The meeting, which is not scheduled to have an accompanying press conference, is expected to be somewhat uneventful to say the least, with Yellen expected to indicate possible slight...

  • EUR and US credit – diverging performance in recent weeks

    EUR and US credit – diverging performance in recent weeks

    We’re well into the second week post Greek deal and one would rightly think that the Greek crisis is slowly fading, with credit responding to this through a marked tightening over recent weeks. However, we must be aware that we are not completely...

  • European equities – pro risk as tail risk is easing

    European equities – pro risk as tail risk is easing

    After the excellent performance of European equity markets in the first quarter this year, the Euro Stoxx 50 suffered a drawdown of 14 per cent due to uncertainty of whether Greece would remain part of the Eurozone. Many investors turned risk...

  • Turk Telekom- looking past short term challenges

    Turk Telekom is a large Turkish telecom conglomerate controlling a number of companies with distinct specializations (broadband, mobile services, TV etc); the parent company on the other hand is the incumbent fixed line operator. Turk Telekom has...

  • Equity market opportunities; past and present

    Equity market opportunities; past and present

    Investing is sometimes about being in the right place at the right time. This is especially true for those equity investors that are not strictly in for the very long term, enjoy following their investments and partake in the occasional trade. In...

  • The best of the IBEX

    The best of the IBEX

    When we talk about how the markets are doing throughout the trading session, we normally refer to the DAX, the FTSE or the S&P 500. However, this does not mean that they are the only market indices out there. An index worth looking into is the...

  • H2-2015 credit outlook at a glance

    H2-2015 credit outlook at a glance

    Over late-June and early-July, European high yield underwent a rapid spread widening, undoing the gains experienced over the first trimester. With the Greece crisis seemingly resolved (or kicked down the road), much of the weakness should be...

  • Investing with a conscience

    There is no doubt that people invest to make money. However how investors set up their portfolio to achieve their goal can differ amongst investors even with similar objectives. Like any other challenge in life, morals play a big part in the...

  • Europe is no Japan (yet)

    Europe is no Japan (yet)

    As low as the yields on European credit may seem, the asset class seems to have defied (at least for now) fears of Japanification. To start with, whereas the 10-year German yield tested (over Q1 2015) levels that were lower than those experienced...

  • Coming out alive from another crisis

    The Greek drama has occupied most of my thoughts in the past few weeks. Since I mainly base my investment decisions on fundamentals, an outlier of this magnitude disrupted most of the logic behind my thinking. Through the years I have accumulated...

  • Shipping movements

    The following ships are expected in Malta: The Merito from Algiers to Algiers (Thomas Smith Shipping Ltd), the Emanuela from Port Said to Valencia (John Ripard & Son Ltd) and the MV Eurocargo Venezia from Genoa to Genoa (Sullivan Maritime)...

  • Euro area banks slowly ease their credit standards

    Yesterday, the ECB released the results of its latest Bank Lending Survey (BLS) which was conducted between 9th and 24th June 2015. While recognising the caveats common to all qualitative surveys, I am routinely checking the results of this...

  • Habemus a paciscor (We have a deal)

    Habemus Papam is the announcement given in Latin by a Vatican official upon the election of a new Roman Catholic pope. Habemus a paciscor is the title I decided to give this article, a day after a Donald Tusk, President of the European Council,...

  • Not all QEs are alike

    Not all QEs are alike

    Quantitative easing generally refers to a type of central bank policy which seeks to increase the liquidity in the financial markets by purchasing securities, most often government bonds. The practice was first adopted by the Bank of Japan (BoJ)...

  • Another stress test for the euro

    Another stress test for the euro

    There is a consistent argument among analysts that highlights the flawed structure of the Eurozone. Most of these analysts covering Grexit must have British blood in their veins, which is understandable given the relative success of the UK economy.

  • Kroger; an attractive long-term investment

    Kroger; an attractive long-term investment

    I had never heard of Kroger until it appeared as a top pick on my equity screening model results. Probably the main reason is that The Kroger Company operates mainly on the west coast and southern states of the United States and is therefore not...

  • Fresh wave of Greek negotiations keep investors waiting

    Fresh wave of Greek negotiations keep investors waiting

    With the outcome of the weekend referendum known and markets grappling with the result and possible implication in the short-to-medium term, Greece’s government scrambles for a fresh wave of negotiations with its creditors, with a new finance...

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