Beyond Bulls & Bears

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Europe: Back to Business

The main, very positive consequence of the Greek rescue agreement—even if nobody in Greece or in the eurozone at large seems to like it—is that Greece appears to be staying in the eurozone and the construct has been safeguarded.

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Searching for Natural Hedges Against Interest-Rate Risk

We have found that historically over time, interest-rate moves don’t often play as large of a role in a broadly diversified fixed income portfolio as one might think.

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Perspectives

Notes From the Trading Desk – Europe

Last week saw equity markets give back some of their recent gains amid some concern about commodities and in the absence of other positive catalysts.

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European Drama Hasn’t Derailed US Growth

We believe headwinds to growth have been easing and what the current leg of the US expansion has perhaps lacked in intensity may very well be made up for by a transition to a more durable or lengthy expansion.

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Global Economic Perspective: July

All in all, recent data would seem to confirm the Fed’s view that first-quarter 2015 weakness was 'transitory' and that the US economy regained its footing in the second quarter, perhaps setting the stage for a more robust second half of the year.

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Eurozone Looks to Heal Its Greek Crisis Rifts

Bringing eurozone countries closer together will be the focus of the region’s leaders for the next couple of years. So, if we have another crisis in the region, hopefully this drawn-out, painful scenario isn’t repeated.

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China: Searching for a New Equilibrium

Overall, based on our detailed analysis, we believe China will remain on course … while the economy shifts toward consumption, services and higher value-added manufacturing. This could have important implications for the global economy.

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An Alternative Perspective on Malaysia

We acknowledge the many challenges Malaysia faces economically and politically; however, we also believe the country will demonstrate its resilience in the years and months to come, especially over a long-term horizon.

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Greece’s Precarious Position

Given how fluid this situation is currently, attempting to assign probabilities to a Greek exit scenario remains a moving target on a daily basis.

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Is There Value Left in UK Stocks?

A phenomenon that we think will have an increasing impact on stock markets this year is merger and acquisition (M&A) activity, which has been running at markedly lower levels in the last year or so, particularly in the United Kingdom.

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Exporting the “Bacon Genie” and Other Reasons to Be Bullish

The global economy is at a crossroad of sorts, facing a paradigm shift that is necessary for sustainable growth in the future. In our view, modifications in policy and consumer behavior will be requisite in both developed and emerging nations.