Global weekly: Wrapping up the third quarter
Despite sharp price movements in specific stocks and bonds – Glencore being a striking example – broader equity and bond markets did not change much this week. Many investors probably welcomed the end of the third quarter, as it has been the worst period for equity performance since 2011. On a brighter note, we expect equity markets to recover in the fourth quarter.
ABN AMRO integrates its Jersey and Guernsey private banking activities
Today ABN AMRO Bank N.V. announces the integration of its private banking activities in Jersey and Guernsey, subject to regulatory approval. In the coming months, ABN AMRO will transfer its business from Jersey to its subsidiary in Guernsey.
Global weekly: When paths diverge
The lack of a clear direction and a stream of depressing news has hurt sentiment. Markets perked up after Fed Chair Janet Yellen said that a rate hike was “likely” in 2015.
Global weekly: Know when to hold ‘em
The September meeting of the US central bank came and went yesterday, with no change in interest rates. This decision added support for stocks, bonds and gold, but was negative for the US dollar, as markets scaled back rate-hike expectations.
Investment strategy September 14
The Global Investment Committee, at its meeting on 10 September, confirmed its conviction in the existing asset allocation. It consists of an overweight in equities, a strong underweight in bonds and overweights in commodities and hedge funds. A main discussion point was the growing divergence between developed and emerging economies, which has been thrust centre stage by events in China. The committee believes, however, that while other emerging-markets countries may be negatively affected, China’s slowdown will not affect global growth prospects.
Global weekly: Guardians of growth
The actions of central bankers and policymakers soothed markets this week. The slowdown in China, while negatively affecting other emerging markets, should not impact global growth.
ABN AMRO Private Banking wins #1 Website for Wealth Management 2015
ABN AMRO Private Banking has ranked first among 40 leading wealth managers and private banks globally in the annual benchmarking study ‘Websites for Wealth Management 2015’ conducted by the Swiss research company, MyPrivateBanking Research.
Global weekly: More monetary easing ahead
After dovish remarks at the press conference, we expect the European Central Bank (ECB) to increase its assetpurchasing programme on worries about global growth and inflation
Investment outlook: Keeping a balanced view
The slowdown in China and rising interest rates in the US are a concern, but are not risks to global growth. We believe that the cyclical uplift that is underway in Europe and the US will be strong enough to overcome negative market sentiment. We remain in favour of investing in stocks and commodities.
Global weekly: A most turbulent week
After a week that started with a Black Monday, markets recovered surprisingly well to levels from at or above the start of the week. ABN AMRO Group Economics continues to expect an acceleration of global growth in the fourth quarter, generated by higher industrial activity and consumer demand.
Global weekly: In or out?
The crisis in Greece and a severe correction in China weighed on equity markets this week. Credit spreads for peripheral eurozone government bonds increased, but later declined, as Greece's problems remain contained.
Global weekly: Yes or No? Markets wait for Greek referendum
The result of the Greek referendum on Sunday is crucial. A Yes vote would revive talks between Greece and its creditors, while a No vote would further increase the chances of an eventual exit by Greece from the euro.
Global weekly: A moment of truth, but not the end game
With an end-of-the-month deadline looming for Greece’s refinancing, markets were uncertain this week. In the US, the Federal Reserve looks to be on track for rate hikes beginning in September.
Global weekly: Greece in firing line
Sentiment is currently hurt by fears of a Greek exit, rising bond yields and increasing volatility in foreign exchange markets. These developments should, however, not challenge the economic recovery scenario or earnings fundamentals.
Bond volatility: here to stay?
Bond markets dropped this week, fuelled by ECB President Mario Draghi’s remark that bond investors should get used to periods of higher volatility. Bond yields, moving inversely to bond prices, surged. Equity markets fell, most notably in Europe, as the showdown between Greece and its creditors appeared to be far from over.
Global weekly: Mindful moves
After remarkable performance in the first half of the year, investment prospects remain positive. We expect equities to continue to outperform cash and bonds, with a preference for Europe and emerging markets Asia. The ABN AMRO Private Banking Mid-Year Investment Outlook, Mindful Moves, that was released this week, provides more details on what we expect for the next six months and beyond.