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Market Analysis

  • Not sprinting but still able to survive until 2017

    Not sprinting but still able to survive until 2017

    Sprint is a communications company offering wireless and wireline services for US customers. It has 45 million retail clients and more than 57 million. It has recently become the fourth largest player in the US market after losing the third...

  • Revisiting US interest rates

    Revisiting US interest rates

    October reserves a few special days that may change the course of equity markets in the short term. The one that will garner most attention, if not the most important, will be the US Federal Reserve meeting on the 28th as, once again, markets...

  • Is additional monetary policy easing on the way?

    Is additional monetary policy easing on the way?

    A strong case can be made for additional monetary policy easing in the Eurozone, either via an extension and/or expansion of the current Quantitative Easing programme, currently in the form of €60 billion worth of monthly asset purchase. With data...

  • Kroger – Moving out of your comfort zone

    Kroger – Moving out of your comfort zone

    When an investor starts putting money to work in the equity markets, the probability is that the constituents will be well renowned such as BMW, Apple, Starbucks, Ryanair etc. People feel comfortable with these names because they make part of...

  • Markets are expecting more QE but what is ECB saying?

    Yesterday, the ECB published the account of its monetary policy meeting held at the beginning of September, shortly after the China-induced market sell-off. As a reminder, at that time the institution’s governor, Mario Draghi, acknowledged that...

  • Heros to Zeros

    Lately I am having some unforeseen time to meditate. As the perceived ribbon of autos snake beyond the visible horizon, time seems to stand still. In reality it is my car that is standing still, the dashboard clock keeps ticking away well beyond...

  • Shipping movements

    The following ships are expected in Malta: The Furth from Damietta to Izmit, the Saint Roch from Misurata to Misurata, the Jamila from Sfax, the BFP Galaxy from Skikda to Skikda, the Janina from Annaba to Algiers (all CMA CGM Malta Agency Ltd),...

  • Why you shouldn’t wait to invest

    For the first time in the economic history of Malta, we are witnessing something quite interesting; where slowly but surely more and more Maltese citizens are becoming open to the idea of investing their hard earned cash. This however does not...

  • Chesapeake - what lies ahead

    Chesapeake is a name we follow closely, which has had mixed fortunes since the slump in energy prices over 12 months ago. More recently, Chesapeake bonds have been underperformers in Q3 against other energy names, with all of its benchmark bonds...

  • Out with the old (Sept) and in with the new (Oct)

    For many September has got to be the worst month of the year. Students have to start waking up early to go back to school and traffic becomes a nightmare once again on the streets. The weather is sticky and the rain puts an end to a weekend at the...

  • September brought wider spreads across the board

    September closed off a weak quarter for risk assets as sentiment was shaken by the correction in emerging markets and the downgrades in global growth outlook. As we had expected, the Federal Reserve resisted calls for an interest rate hike and was...

  • The emotions of markets

    The emotions of markets

    Human beings are emotional creatures, and it is through emotion that most of us base our day to day decision making processes. The buying and selling of stocks and shares are driven by the demand of buyers and sellers, however it is believed that...

  • MSE Share Index dragged down by HSBC

    The MSE Share Index eased 0.17% lower to 4,333.534 points on the stock exchange today as the positive performance of four equities was outweighed by the decline in HSBC. Trading volumes once again remained subdued possibly as a result of the...

  • What is certain is that uncertainty is here to stay

    What is certain is that uncertainty is here to stay

    I am writing this article just a couple of days after having attended a European Credit Conference in London last week, organised by one of the largest Investment Banks, with over 1,200 attendees. With 48 sessions, across eight different themed...

  • Finding opportunity after a Black Swan event

    Last week, I couldn’t believe what I was hearing when it was announced that the company that I considered as a benchmark for integrity was accused of cheating and manipulating emission controls in their engines. The worst was that this was all true.

  • How exposed is the bond market to automakers?

    How exposed is the bond market to automakers?

    With investors still trying to digest the scandal around (real) car emissions, fears are emerging that this could evolve into more than an issuer-specific risk. To begin with, there are worries that other automakers have tricked customers into...

  • The need for 'smart' production

    Safety Starting with safety, in most industrialized countries, statistics reveal that accidents are one of the most significant causes of lost working days – in many countries an accident is defined as something which ‘causes disablement for more...

  • Credit markets following last week’s FOMC meeting

    Credit markets are still considered to be in their 30-or-so-year bull run, but this does not mean that it does not have its fair share of issues. Apart from the fact that yields are trading significantly below their historical averages, the...

  • What the average airline can learn from Ryanair

    How many times have you travelled with a budget airline, only to leave with a feeling of regret? It is logical that for the low price you paid, you’re not getting a first class service; yet despite this logic airlines’ direct relentless efforts to...

  • No change in interest rate is a change in yields

    No change in interest rate is a change in yields

    Yesterday the Federal Reserve (Fed) concluded its September monetary policy meeting without any change in its key interest rate. While the decision has become a consensus call in the aftermath of the Chinese-induced volatility shock, it was not...

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