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Market Analysis

  • Shipping movements

    The following ships are expected in Malta: The Xin Lian Yung Gang from Port Klang to Koper, the HH North (ex-Connorth) from Tunis to Algiers (both Carmelo Caruana Co. Ltd) and the MV Eurocargo Malta from Genoa to Genoa (Sullivan Maritime)...

  • Managing a USD bond portfolio in the current environment

    One of the most controversial topics over 2014 and so far in 2015 has been the timing of the first interest rate hike in the US and the negative implications of such movements for the US government prices (UST).  In 2014, such bearish forecast...

  • It’s all about the Fed, no bubble?

    Today marks the beginning of US Federal Reserve’s Chair Yellen’s semi-annual testimony on the economy and monetary policy before Congress in front of the Senate Banking Panel followed by testimony in front of the House Financial Services Committee.

  • Renault SA – Excels on the road and in equity markets

    Renault shares were up 50.00% in 2014 and 12.70% year-to-date. This excellent performance was a result of the company’s capability of beating the market’s expectations mainly due to the success of its Dacia brand which targets the low cost...

  • The US fixed income is luring investors

    The US fixed income is luring investors

    In an article published at the beginning of the month I was discussing the performance of the fixed income markets and I pointed out that some of the movements look like trading opportunities. Besides the preference for European sovereign paper...

  • Towards the Apple Watch

    Towards the Apple Watch

    Apple will launch its Watch in the coming months. From the Apple investor’s point of view this will be an important date as the share price already reflects the expectations of a series of successful new products. The Watch is the first of these...

  • Europe or Greece, who will blink first?

    Europe or Greece, who will blink first?

    Life is often a game and politics often the showcase. In a game the players typically have a fair chance of winning, otherwise they would not play; and the players need to interact otherwise the game cannot proceed. Greece and the rest of the...

  • EU bailout deal talks stall – what next for Greece?

    EU bailout deal talks stall – what next for Greece?

    Ever since the much anticipated ECB QE announcement (and subsequent market moves following the announcement) last month and the Greek parliamentary elections a few days later, there have not been any major, market moving or market changing events...

  • Equity performance in top gear

    Equity performance in top gear

    Experience has taught me that adopting a top-down approach to investing will increase your probability of generating excess returns (over and above the market) in a portfolio. To do this, you need to adopt three important steps. The first involves...

  • More liquidity and less drama push markets higher

    Investors’ risk appetite increased yesterday after headlines on a ceasefire agreement in Ukraine provided markets with a respite and the Swedish Central Bank (Riksbank) cut its policy interest rate to -0.1% and introduced a bond buying program.

  • Managing trading losses – an important part of the game

    Larry Williams starts-off his benchmark contribution to trading, “Long-Term Secrets to Short-Term Trading”, with an immensely important concept that all too often is ignored by traders; managing your losses is more important than managing your...

  • The search for yield

    The search for yield

    While the European Central Bank reduced eurozone interest rates last summer on two occasions and in January 2015 announced a quantitative easing programme that will commence next month, two other major central banks have different circumstances to...

  • Shipping movements

    The following ships are expected in Malta: The MV Eurocargo Malta from Genoa to Catania (Sullivan Maritime) and the Maersk Sofia from Port Tangier to Port Said (Thomas Smith Shipping Ltd) today. The Antwerp from Bejaia to Skikda, the DS Patriot...

  • Positive US HY momentum overshadowed by Greece-Troika showdown

    Momentum has been slowly building up in the US high Yield market, particularly last week whereby the uptick in the price of oil resulted in energy names to be better bid, from 2-8 points overall, with the lower-quality less liquid names...

  • European companies announce share buybacks

    European equities started the year on a positive note. The Euro Stoxx 600 returned 7.30% to shareholders year-to-date. An excellent start to the year after the ECB announced Quantitative Easing. Whereas many investors question whether European...

  • The fixed income markets are gradually delivering on expectations

    The fixed income markets are gradually delivering on expectations

    The steady drop in European sovereign markets made the headlines this year as the anticipated Japanification of the European credit took hold of the markets. Specifically, the mix of persisting deflationary fears and the aggressive bond-buying...

  • The X Factor in US Equities

    The X Factor in US Equities

    What makes a good equity investment? The simple answer is making money. But what makes money? What gives a competitive edge? Or as Simon Cowell would say, what is the X-Factor? Own an Apple iPhone is about being cool Apple sold an incredible...

  • Has the oil price bottomed?

    Has the oil price bottomed?

    Many investors are questioning whether last Friday’s rally in the oil price is a turning point in the price of the commodity. On Friday, Brent (the international crude benchmark) posted the biggest one day gain since 2009. Brent rose almost eight...

  • January was positive, are anti-EU parties gaining ground?

    January was positive, are anti-EU parties gaining ground?

    2015 started on a strong foothold for fixed income markets as both investment grade and high yield, particularly investment grade, had a remarkable performance as expectations that a fresh wave of Quantitative Easing spurred demand for this asset...

  • Data rich day ahead

    Data rich day ahead

    Yesterday we had some swings in European equity markets which took cue from the US and then having to contend with the negative reading for the German inflation. The preliminary data for January showed a 0.5 per cent annual decline in prices in...

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