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July 8, 2022
BilboardBILBoard July 2022 – Competing narratives
The market is oscillating between two competing narratives – one focused on durably higher inflation and the other on the growing risk of recession. Stubbornly high inflation means that, for now, central bank hawks still have the upper hand – but for how long is yet to be seen. We advocate staying safe and liquid in the fixed income space. In our equity allocation, we have further reduced cyclicality in our sector selection, while regionally, we have doubled exposure to China, a clear outlier in the global tightening cycle.
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July 18, 2024
BilboardBILBoard August 2024 – Stocks get tha...
Based on the Committee of 15th July 2024 Over the past few weeks, two important developments have played out for investors. Firstly, US inflation...
July 16, 2024
NewsTourism, a fragile pillar of Europe...
Accounting for around 10% of the EU's GDP, tourism is one of the key pillars of the European economy, with a considerable impact on...
July 1, 2024
NewsCan US households continue driving gr...
Consumers are the Atlas holding up the American economy. With the US representing around one-quarter of global output, and with personal consumption accounting for an...
June 21, 2024
BilboardBILBoard – Summer 2024
Despite tight monetary conditions, the global economy held up remarkably well throughout the first half of 2024. From this point on, it appears to be...