Parmenion doubles up on Japan, raises EM
Parmenion has further decreased its allocation to the US, as recent dollar strength and high valuations outweigh solid economic fundamentals.
Macro News
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Pension fund investors unwillingly increase equity allocation
The majority of global pension funds have been increasing their equity allocation in the past six months. However, many would prefer to decrease it if they could just find yield somewhere else, because they expect a serious market correction.
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UK creeps out of deflation
The United Kingdom has crept quietly out of deflation with a 0.1% rise in prices being recorded in May, the Office for National Statistics said.
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Saudi Arabian stock exchange opens to foreign investors
Saudi Arabia has today opened its $570bn (£367.7bn) Tadawul stock exchange to direct foreign investments for the first time, which is being widely seen as a crucial stepping stone to the kingdom’s entry into the MSCI Emerging Markets index.
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Upside potential in RBS sale but investors should be wary
George Osborne’s announcement that the government is to sell its stake in Royal Bank of Scotland may lead to shareholder upside according to industry experts, though investors should exercise caution.
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US payroll numbers trounce forecasts
United States non-farm payrolls were reported to be 280,000 up in May by the US Bureau of Labour Statistics.
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UBS introduces wealth management app in Asia
UBS Wealth Management is rolling out a wealth management app and has set up an “innovation centre” in Singapore that aims to commercialise ideas that would help serve its clients.
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Expect more asset price volatility – Draghi
European Central Bank president, Mario Draghi told journalists on Wednesday that markets should get used to higher levels of volatility.
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Grexit could be overshadowed by US GDP – Brooks Macdonald
Kicking the Grexit can down the road has gone on long enough says Brooks Macdonald’s Jon Gumpel, but US Q2 growth figures could push the issue to the sidelines.
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Real economy catching up but investors must be wary – BlackRock
A closing of the gap between the real economy and financial market recovery is promising, says BlackRock’s Justin Christofel, but thin margins of safety mean investors must tread carefully.
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Latest growth numbers point to further rate cuts in Brazil, India – Schroders
Slowing growth numbers in both Brazil and India have raised expectations of a more dovish monetary stance in both countries Schroders said on Friday.
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Invesco issues curve warning
Invesco Perpetual’s chief investment officer Nick Mustoe has said there is a growing risk of policy error in the UK and US given their labour markets are tightening and wage growth has accelerated in both countries.
