US Economy And Monetary Policy
13 January 2014 | The US economy has become strong enough to grow on its feet, allowing the Federal Reserve to withdraw in measured steps the exceptional monetary stimulus. We believe that the process known as “taper” will unfold slowly as subdued inflation allows the Fed to buy some time after Quantitative Easing (QE) expires before raising benchmark interest rates.
China: Speeding Up The Transition To A Competitive Economy
12 December 2013 | In this piece Mauro Ratto, offers his insights on China’s prospects after the new leadership unveiled a bold plan for economic reforms at the November party gathering. The plan’s key principle is that the economy needs more market discipline, a change involving first of all the largest state-owned companies.
Taking stock one year into Abenomics
11 February 2014
In this piece our Head of Global Asset Allocation Research, Monica Defend, reflects about the results of the new course of economic policy in Japan known as Abenomics and what its ambitious schedule has yet to achieve more than a year later. The conclusion is that the most difficult part, structural economic reforms, is still far from implementation.
CIO Letter: Investment Process: An Evolutionary Game
19 March 2014 | In this CIO Letter Our CIO Giordano Lombardo answers two key questions for our investment strategy going forward:
- Is it still worth being long risky assets?
- And, is the investment approach adopted so far the most appropriate for meeting investors’ needs and new market challenges?