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The American elections on 3 November are seen as the most important of the current generation. Investors see two risks. The first risk is that a broad victory for the Democrats will ensure that [...]

The price/earnings ratio of equities in the early 1980s was extremely low, yet equities were not undervalued relative to bonds. Evidence is that, in the ten years since then, long-term bonds have [...]

The second Corona wave is causing unrest in the euro area. Measures to combat the virus are depressing economic growth, but the differences between countries are considerable. Vulnerable [...]

Like the Chinese Central Bank, the ECB is also looking at a digital currency as an alternative means of payment. In mid-2021 the decision will be made and the ECB will decide whether the digital [...]

It is said that monetary policy has caused many bubbles (the Everything Bubble) since the Great Financial Crisis (GFC). There is at least one asset class that has not benefited from this. These [...]

When the British stock market falls, it is either because of Brexit or because the Coronavirus hit the British harder than the rest of Europe. Both statements are nonsense. There is no stock [...]

Safe haven of refuge In times of turmoil in the financial markets, the Swiss franc is considered one of the safest havens of refuge. This is also the case during the current pandemic. Despite the [...]

Statistically, September is the worst stock exchange month of the year and this September week is also statistically the worst week of the month. There are, of course, many explanations for the [...]

Weathering the crisis well While the authorities in the United States and the European Union continue to struggle with the virus, corona seems to have been reasonably brought under control in [...]

At the Jackson Hole conference for central banks three weeks ago, the US central bank announced a new strategy. President Jerome Powell said that, from now on, employment will take precedence [...]