Oct 25, 2016
Equity markets were driven by the AT&T mega merger deal and solid economic data out of the U.S. and Europe. In Frankfurt the Dax closed at the highest level this year and stocks in Tokyo temporarily reached a six-month high, thanks to a weaker yen.
Oct 24, 2016
Over the weekend, telecom giant AT&T announced the intention to acquire media group Time Warner, which includes the movie manufacturer Warner Bros. as well as TV stations such as CNN and HBO, for USD 85.4bn. This could become the largest takeover of the year. From a strategic point of view, the merger of media content with its distribution network makes sense, which, however, will have to be examined by antitrust authorities.
Oct 21, 2016
Most stock exchanges in Asia booked moderate gains on the backdrop of a 15-month high oil price and good demand in the energy sector. The benchmark equity index in Tokyo closed above the 17,000 points mark, reaching the highest level in six months. On the other side of the Atlantic, Federal Reserve members pointed to a soon-to-be expected rate hike.
Oct 19, 2016
The recent oil price developments could lead to a positive surprise on the inflation side. In equities the focus is on the U.S. earnings season and the corporate outlook for the next year. On this backdrop we have increased inflation-linked bonds and further reduce government bonds.
Oct 12, 2016
Regardless of the possible impact of the upcoming US election, markets will stay susceptible to volatility outbursts in the long run. The global economy remains fragile and sensitive to policy surprises, while risk-free rates are stuck near zero. Alternative assets address the resulting challenges for a wide range of investors, ranging from pension funds to family offices.