Beyond Bulls & Bears

Notes from the Trading Desk—Europe
Equity

Notes from the Trading Desk—Europe

Equities in the United States and Europe continued their grind higher in a holiday-shortened week, which led to lighter volumes and newflow last week. Concerns over rising COVID-19 cases were a concern in a number of countries.

Notes from the Trading Desk—Europe
Equity

Notes from the Trading Desk—Europe

The COVID-19 situation in Europe remains precariously balanced, which weighed on reopening hopes. The grounded tanker in the Suez Canal also continues to attract attention, with media reports suggesting nearly 200 ships carrying US$10 billion of goods were stalled as a result of the blockage.

Notes from the Trading Desk—Europe
Equity

Notes from the Trading Desk—Europe

Talk of a third wave of new COVID-19 cases increased across the European Union last week, with France reimposing lockdown in Paris, and German health officials stating cases are accelerating ‘exponentially’. The picture for the UK economy looks more encouraging. New cases remain far below January highs and hospital numbers continue to fall sharply.

Notes from the Trading Desk—Europe
Equity

Notes from the Trading Desk—Europe

Last week saw stabilisation in European government bond yields, which in turn, led to rotation back into some of the more recent losers, and defensive stocks. Alongside this, the reopening trade was firmly in play.

Notes from the Trading Desk—Europe
Equity

Notes from the Trading Desk—Europe

Last week, volatility in bond yields remained a key driver for equity market sentiment. In particular, mid-week commentary from US Federal Reserve (Fed) Chair Jerome Powell was a key talking point.

Notes from the Trading Desk—Europe
Equity

Notes from the Trading Desk—Europe

There is a clear ‘push and pull’ in markets at the moment between better-than-expected macro reports, unprecedented levels of stimulus, and a potential end to COVID-19 lockdowns vs. stretched valuations and concerns of the impact of interest-rate increases.

Notes from the Trading Desk—Europe
Equity

Notes from the Trading Desk—Europe

Governments across Europe are trying to keep a lid on reopening optimism for now. The extent of the second wave of COVID-19, especially in the United Kingdom, Belgium, Italy, Austria and most of Eastern Europe, serves as a reminder of how this virus can spread if governments fail to strike the correct balance between managing social interaction and enabling economies to function. However, the difference between now and pre-second wave is the effective vaccination programme in motion across Europe.

Notes from the Trading Desk – Europe
Equity

Notes from the Trading Desk – Europe

The United Kingdom remains far ahead of its European counterparts in terms of vaccination progress, which has helped sentiment. It is also encouraging to see new COVID-19 cases fall sharply in the United States, and the vaccination programme continues to make good progress with over 1 million people there being vaccinated per day.

US 2020 Election Investment Pulse: Positive for Europe
Perspectives

US 2020 Election Investment Pulse: Positive for Europe

Global markets embraced the removal of uncertainty surrounding the US elections, and many European leaders in particular welcomed a renewed relationship with the world’s largest economy under President-elect Joe Biden. Our Katrina Dudley and David Zahn discuss the implications for European equities and fixed income of a new US administration, including the “green” agenda Europe has prioritised. They also touch on the impact of COVID-19 on the region and recent news of an effective vaccine.

A Value Investor View of Market Dynamics and Potential Dislocations
Equity

A Value Investor View of Market Dynamics and Potential Dislocations

Equities saw strong 2019 performances across the globe, so the big question for investors is whether the bullish momentum can continue. Templeton Global Equity Group’s Alan Bartlett and Tony Docal provide a look at what drove the positive performances around the globe in late 2019, and how they are poised to take advantage of any potential dislocations in the year ahead.

Why We See European Equities as a Catch-Up Opportunity
Equity

Why We See European Equities as a Catch-Up Opportunity

Equity markets seem to have calmed after the short, sharp volatility some political upheaval in Italy and Spain provoked last month. Templeton Global Equity Group's Dylan Ball considers the situation in Europe and where he sees value.

A Big World for European Small- and Mid-Cap Stocks
Equity

A Big World for European Small- and Mid-Cap Stocks

“In a potentially more uncertain market environment characterised by higher volatility and rising interest rates, we believe that in-depth stock analysis can uncover overlooked or unfairly punished European small-cap investments.” - Ed Lugo, Franklin Equity Group