Alejandro Arevalo (Jupiter’s Head of Strategy, Emerging Markets) | One might think that emerging market debt has had difficult year, but it’s been quite the opposite. At the time of writing, the major EM hard currency indices have all returned more than 11% year to date.
José Ramón Díez Guijarro (Bankia Estudios) | The end of the year has served to dismiss some of the doubts that have distorted the decisions of the economic agents during the last months, ballasting the growth rates of the activity. Visibility has improved in the short term, yet uncertainty is here to stay
Banca March | By 2020, 14 countries of the European Union and the Eurozone will ask their banks to raise their capital buffers, in order to cushion future financial shocks.
M&G | The year 2019 is going to close with strong advances of most of the world indexes, above 20% in Europe and the United States.
Alejandro Arevalo (Jupiter AM) | Capitalising on the economic and political diversity available within EM debt will be key to riding the economic slowdown in 2020.
Monex Europe | The euro’s fortunes turned sour in 2019 despite the year starting with a positive outlook.
Bankinter | We maintain the Neutral recommendation. Our valuation for the Spanish stock index points to 10,005 points, which represents a potential of 4.6% as of Dec-20 and an estimated dividend yield for the 4.5% index, the highest among the indexes analyzed.
C. Rendu de Lint (UBP) | On the one hand, we have Mr Hyde: the uncertainty that surrounds the US–China trade talks which is impacting world trade. On the other we have Dr Jekyll: world growth is holding up to the tune of 3% for 2019, which is close to its six-year average.
Intermoney | The week that begins will be shorter than usual to be marked by the Christmas holidays. Thus, European stock markets will open only on Monday 23, Tuesday 24 half session and Friday December 27, while Wall Street stock markets will open on Monday 23, Tuesday 24 (half session), Thursday 26 and Friday, December 27. We believe this week could be quite positive for Western markets, as the picture has been clarified enough in the two sources of uncertainty that have been determining in the evolution of the markets, i) the commercial conflict, and ii) Brexit.
BofA | Net 40% of investors expect European economy to strengthen over the next 12 months; rising from net 9% expecting it to weaken last month.