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Bilboard 39

Read about investment strategy and latest asset allocation decisions

October 17, 2023

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BILBoard October 2023 – Entry points and earnings

Written as at 13/10/23   Economic Overview Globally speaking, growth continues to slow as the impact of tighter financial conditions becomes apparent. That said, the transmission of monetary tightening has occurred at varying speeds across economies. Until now, US growth has held up remarkably well,...

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September 22, 2023

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BILBoard September 2023: Peak rates in sight

While central banks could still make some final tweaks, most market participants now believe that we are at (or inches away from) the top when it comes to US and European rates. What is most important for investors now, is the shape of the peak...

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August 2, 2023

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BILBoard August 2023 – Challenging resilience

The idea that central banks might be finished hiking rates is gaining prominence. In the US, the Federal Reserve has now hiked rates eleven times, bringing the federal funds rate to a range of 5.25-5.50%, a 22-year high. Closer to home, the European Central Bank...

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May 4, 2023

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BILBoard May 2023 – Getting defensive

Lingering inflation is keeping major central banks in a tightening mode, even as macro headwinds gather. Expecting a choppy investment landscape in the coming quarters, we added a further layer of protection to our portfolios by implementing a bias towards defensive sectors. Macro View Looking...

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April 11, 2023

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BILBoard April 2023: Following the fundamentals

Source: Bloomberg, BIL Recently, equity markets have had a spring in their step. The S&P 500 has eked out fresh multi-week highs, and is up 7.4% year-to-date. The Nasdaq is in a bull market having risen by over 20% in the first quarter. The EuroStoxx 600...

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