Capital Daily The rally in the S&P 500 might have further to go A lot has been made of the divergence between the S&P 500 which is up a bit today, and the dire incoming economic data, like the latest ADP payrolls survey. The contrast between the two has led to... 6th May 2020 · 7 mins read
Global Markets Update Equities in LatAm and EMEA may soon start outperforming Even though some economies in Latin America and EMEA are still struggling to contain coronavirus outbreaks and are likely to recover only slowly afterwards, we doubt that their equities will continue... 5th May 2020 · 4 mins read
Capital Daily EM equities may soon start outperforming again Although equities have fallen back a bit over the past couple of days, April was one of the best months in years, if not decades, for many stock markets. One feature of the rally has been the... 1st May 2020 · 8 mins read
Global Markets Outlook We think the recovery in risky assets has further to go We forecast further gains in most risky assets between now and the end of next year. This reflects our expectation of a rebound in economic activity starting in the second half of 2020, alongside the... 30th April 2020 · 30 mins read
Australia & New Zealand Chart Pack Easing lockdowns will boost growth The strict lockdowns have resulted in a massive drop in demand, but they have also been successful at ‘flattening the curve’ or reducing the number of new daily cases of Covid-19 in both countries... 30th April 2020 · 10 mins read
DM Valuations Monitor MSCI USA’s valuation most stretched since dot-com era The price/estimated earnings (P/E) ratio of the MSCI USA Index – a benchmark index of mid- and large-cap US equities – recently rose to its highest level since the dot-com era. Nonetheless, we still... 22nd April 2020 · 8 mins read
DM Markets Chart Pack Core markets improving, but pockets of risk remain Strains in financial markets are continuing to ease slowly as central banks’ efforts contain the fallout from the pandemic take effect and equity markets rebound on hopes that the spread of the virus... 17th April 2020 · 7 mins read
Global Markets Update Falling EPS shouldn’t stop EM equities from rebounding We think that the earnings of firms in the MSCI EM Index will fall sharply this year as the coronavirus pandemic reduces world trade by a fifth and commodity prices only recover slightly. But with... 8th April 2020 · 3 mins read
Capital Daily Signs of slowing virus spread a good omen for global equities Global equities have rallied today on tentative signs that the coronavirus pandemic is being brought under control in Europe, and positive signs in parts of the US. While it is too soon to know for... 6th April 2020 · 8 mins read
Capital Daily Oil deal wouldn’t alter the short-term outlook for petro-currencies We doubt that the rally in oil prices of the past couple of days will last, even if Russia and Saudi Arabia agree a deal to cut output. And while we do think that oil prices will rebound in the second... 3rd April 2020 · 7 mins read
Global Markets Update Hit to corporate earnings could be bigger than in GFC Although analysts’ expectations for corporate earnings have been revised down quite significantly since the coronavirus began to spread around the world, stock prices suggest that investors are braced... 2nd April 2020 · 3 mins read
Capital Daily Equities are unlikely to rebound until virus is contained globally The muted reaction in stock markets to tentative signs that the coronavirus is being brought under control in Europe suggests that equity prices will only experience a bigger recovery once this... 31st March 2020 · 6 mins read
Global Markets Update What to make of the moves in commodity currencies The slump in the prices of commodities has hit hard the currencies of the countries whose fortunes depend heavily on them. But if we are right and commodity prices eventually recover as the... 23rd March 2020 · 2 mins read
DM Markets Chart Pack Market mayhem may get worse before it gets better The turmoil in financial markets caused by the global spread of COVID-19 shows little sign of abating, despite policymakers’ efforts to contain the fallout. Our view remains that until evidence... 17th March 2020 · 7 mins read
Capital Daily Re-examining the market reaction since the coronavirus outbreak Equities outside of China have continued to sell off today as the number of international new coronavirus cases has overtaken those reported by Beijing for the first time since the outbreak began. By... 27th February 2020 · 7 mins read
