Advert

Market Analysis

  • A parallel currency?

    A parallel currency?

    As the Italian economy halts yet again and as the budget stalemate with its European partners intensifies, the idea of a parallel currency for Italy is again being heard around. The basic idea of this parallel currency would be to have the Italian...

  • Currents of disruption: a closer look at Asia

    Currents of disruption: a closer look at Asia

    A continuous process that knows no geographical or sectoral bounds is disruption. At the heart of this transformational change is undoubtedly Asia, but what is different today is the absolute pace of disruption and the scale and depth at which its...

  • Poland's confrontation with the European Union

    Poland's confrontation with the European Union

    Back in October 2015, the Law and Justice Party, abbreviated to PiS, won Poland’s parliamentary election by a huge majority. Three months into their governing, PiS passed a legislative amendment that gave them the right to choose the replacement...

  • Market risk within the context of a portfolio

    Market risk within the context of a portfolio

    Investments, whichever shape they take, inevitably involve an element of risk. I say inevitable as it is the degree of risk which is commensurate with the return on an investment. Investments may take varying forms, and even the 'relatively'...

  • Turkey’s Central Bank stays on hold

    Turkey’s Central Bank stays on hold

    Given the 625 basis point (bp) front-loaded hike in September, the ongoing strengthening of the lira due to Pastor Brunson's release and subsequent signals from the US on lifting some sanctions have all been firming optimism that the geopolitical...

  • An introduction to bond investments

    An introduction to bond investments

    A bond, put simply, is a loan taken out by companies which is financed by the general public. It is classified as a fixed income investment, which enables companies to borrow funds for a defined period of time (known as the term to maturity) at a...

  • Where are the equity markets going from here?

    Where are the equity markets going from here?

    Equity markets are now oversold (particularly Europe and Emerging markets), meaning that a technical rebound should occur soon. The question is that of the duration of the rebound. Earning season will be crucial to determine whether equity markets...

  • BAE Systems PLC – A stock that trades in GBP

    BAE Systems is a global defence, aerospace and security company employing around 83,900 people worldwide. Their wide-ranging products and services cover air, land and sea. They design, manufacture, upgrade, and support combat and trainer aircraft...

  • Asset classes and investment options

    Undoubtedly, a successful investment strategy is a result of hard-thought process which every individual investor plans out. Investing without any form of plan, targets, goals or policies could mark the recipe for disaster. Planning is key,...

  • Alibaba – A new name on our equity list

    We started coverage of Alibaba with a Buy recommendation and a price target of $225 on the stock. We like Alibaba for multiple reasons, however, the main reasons for our interest in this company are as follows: 1. Strong fundamentals. Strong free...

  • US trade tariffs vs the EU (German) model

    Faithful to his promises made during the electoral campaign, President Trump in the last months gave the go-ahead to the application of tariffs on imports from EU, China, Canada, Mexico and Japan. Although on the China front, the trade war seems...

  • Apple shares continue making shareholders proud

    Apple reported very promising results for Q3 2018 (their financial year ends in September). Factoring in the results into our model, we increased our price target from $190 to $208. However, we changed our stance from Overweight to Hold. Given its...

  • Credit markets recoup but pressures persist

    Credit markets recoup but pressures persist

    Credit markets continue to be pressured by a more hawkish tone by leading Central Banks, but also by the wider picture of geopolitical tensions, such as the continued uncertainty surrounding the trade war preposition. In July, to a certain extent,...

  • Overview of the Bank of Japan’s decision

    Overview of the Bank of Japan’s decision

    Having been on tip toes in the days leading up to Tuesday’s announcement from the Bank of Japan (BoJ) regarding their quantitative easing policy, bond markets rallied during the Tokyo trading day, with the yield on Japan’s benchmark 10-year debt...

  • What has changed for the BOV equity investor?

    What has changed for the BOV equity investor?

    Tuesday marked a significant day in the life of a Bank of Valletta equity investor, as the bank for the first time since 1991 has announced that it will not be declaring either interim or final dividends. This was triggered by a provision against...

  • The importance of benchmark yields in the corporate bond market

    The importance of benchmark yields in the corporate bond market

    Bonds issued by corporations, better known as Corporate Bonds, (which are more commonly termed as either Investment Grade Corporate bonds and/or High Yield bonds), are issued on the primary market and trade on the secondary market. Bonds are...

  • Profiling bond risk (1)

    Profiling bond risk (1)

    The bond section of an investors’ global portfolio is typically considered to be the safest asset class, which is why investment advisors typically include them in order to preserve the wealth of their clients. Bonds are popular because they are...

  • Credit remains volatile in June as spreads widen

    Credit remains volatile in June as spreads widen

    June was one of the toughest months for credit markets and risky assets during the first half of the year, and was pretty much a reflection of what characterised credit markets in H1-2018. Risk-off mode, risk aversion, and flight to safety trades...

  • ASML shares – Buy on weakness

    ASML was always a top holding in the Calamatta Cuschieri Euro Equity Fund and we continue to believe in the long-term story of the group. We have a €200 Price Target on the Stock. Shares of ASML are up 200% over a period of 5-years. ASML does not...

  • Weekly update dominated by tariff threats

    Weekly update dominated by tariff threats

    Share markets continue to be mixed. US shares were mostly flat last week and negative this week, with strong data offset by worries about a more hawkish US Federal Reserve (Fed) and a potential trade war with China. The euro main equity benchmark...