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Bi-Weekly. February 2022 I
Bi-Weekly. February 2021 I Macro Update: Strong US job data gives the Fed more room to tackle inflation faster Last weeks we were surprised by the US job data. In January 467’000 jobs were created, while December jobs creation statistic was adjusted to 511’000 new places. Although this is now already history it has an impact on…
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Tapering means a touch less stimulus and not tightening
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Join Cbonds & Blackfort Capital webinar on the 10th of November
Are Chinese bonds offering an attractive entrance? If you are looking for a decent yield on the bond market, you’d be curious to attend our next Cbonds online seminar: “Are Chinese bonds offering an attractive entrance?” in cooperation with Andreas Bickel, Chief Investment Officer at Blackfort Capital. DATE: Wednesday, November 10th, 2021. TIME: 2:00 pm CET. Andreas Bickel…
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Bi-Weekly. Blackfort. October 2021 (II)
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Bi-Weekly. Blackfort. October 2021 (I)
Macro Update: The US economy has gained momentum based on the latest ISM Data The news narrative over the last weeks was about a global slowdown led by China and followed by Europe and the US. Such statements are based on economic forecasts. Today’s latest Chinese PMI data, neglected by economists, came as surprise. All three indictors have…
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Sell the rallies or buy the dips?
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Bi-Weekly. Blackfort. September 2021 (II)
Macro Update: Sticky high US inflation data pushes junk bond yields below zero Is inflation transitory? We still don’t know. But the latest US CPI data shows 5.3% year-on-year price changes. We would call that sticky at elevated levels. As a result, high yield bonds do deliver negative real returns just as the European ones. The formerly called…
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FOMO – S&P 500 and CSI 300 have seen both a rally into the closing
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Bi-Weekly. Blackfort. September 2021 (I)
Macro Update: Jackson Hole meeting – 2021 tapering and no rate hikes till 2023 Jerome Powell, Fed chair, gave a very dovish speech at Jackson Hole conference in August. On one hand he delivered the expected message that at the end of 2021 the Fed will start with the tapering, but on the other hand he surprised with…
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Sell the Rally in the US stocks?
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Bi-Weekly. August I
Macro Update: Slower growth and higher inflation due to Delta strain Due to rising COVID cases, Israel might be forced to enter another lockdown. In the US the 4th wave has almost reached the level of the 3rd wave. To make matters worse, some scientists claim that the immunity of vaccinated people is gone after 146 days, i.e.…
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