Global Multi-Asset Investment Strategist, True Insights

Jeroen Blokland

Global Multi-Asset Investment Strategist

Build Well-Diversified Multi-Asset Portfolios

True Insights

Our research helps investors build well-diversified multi-asset portfolios and profit from market developments. In addition, our unique and proven Macro – Sentiment – Valuation (MSV) investment framework ensures a consistent flow of new investment opportunities. Together with our market views, these opportunities will be reflected in our live ETF-based Global Multi-Asset Portfolios.

Cross Asset Strategy

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<li>There still is an abundance of inflation out there. Eurozone 'Supercore' inflation has not peaked and is now at 6.0%, while US Core PCE stunned markets by accelerating.</li>
<li>The S&amp;P 500 Index <a href="https://www.smartkarma.com/entities/spdr-s-p-500-etf-trust" target="_blank" data-smartkarma-citation="entities:763:1" rel="noopener">SPDR S&amp;P 500 (SPY US)</a>  has closed within 1% of the 200-day moving average. Dropping below it, would trigger another sell signal.</li>
<li>The 2-year US Treasury Yield has made news high, but stock market valuation has not followed, providing additional downside for equities. <a href="https://www.smartkarma.com/insights/yields-up-add-another-10-downside-for-stocks" target="_blank" data-smartkarma-citation="insights:96301" rel="noopener">Yields Up? Add Another 10% Downside for Stocks!</a> </li>
</ul>


There still is an abundance of inflation out there. Eurozone 'Supercore' inflation has not peaked and is now at 6.0%, while US Core PCE stunned markets by accelerating.
The S&amp;P 500 Index SPDR S&amp;P 500 (SPY US)  has closed within 1% of the 200-day moving average. Dropping below it, would trigger another sell signal.
The 2-year US Treasury Yield has made news high, but stock market valuation has not followed, providing additional downside for equities. Yields Up? Add Another 10% Downside for Stocks! 


Weekly Market Monitor Week 8 - Sticky Inflation, Moving Average Anxiety, and the Bond Yield Issue

Emerging Market Economist, Emerginomics

Tatiana Orlova

Emerging Market Economist

Emerginomics

Thematic (Sector/Industry)

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Ukraine is a rare example of an EM economy that has managed to attract portfolio inflows amidst the recent sell-off thanks to its commitment to reform and prudent macroeconomic policies.
On 19 September, an IMF mission is scheduled to conclude its visit to Ukraine. Ukraine has fulfilled most of the pre-conditions for receiving the last tranche of the current IMF programme. The Fund is yet to announce the results of the negotiations, but there have been signs that the government and the IMF are approaching a deal. The markets have priced in a high probability that the government should be able to draw the funds until the end of this year.
Reforms demanded by the Fund have caused a lot of pain. They exacerbated the negative impact of the recent deep recession on the population's living standards. Since 2015, when the current IMF programme started, the authorities conducted sensible fiscal and monetary policies. Despite a sharp fall in their popularity, President Poroshenko and his party did not push through populist policies during the current term. If the IMF unlocks the next tranche of its assistance, it will be a message to other EM countries that such behaviour will be rewarded during tough times.

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Ukraine is a rare example of an EM economy that has managed to attract portfolio inflows amidst the recent sell-off thanks to its commitment to reform and prudent macroeconomic policies.
On 19 September, an IMF mission is scheduled to conclude its visit to Ukraine. Ukraine has fulfilled most of the pre-conditions for receiving the last tranche of the current IMF programme. The Fund is yet to announce the results of the negotiations, but there have been signs that the government and the IMF are approaching a deal. The markets have priced in a high probability that the government should be able to draw the funds until the end of this year.
Reforms demanded by the Fund have caused a lot of pain. They exacerbated the negative impact of the recent deep recession on the population's living standards. Since 2015, when the current IMF programme started, the authorities conducted sensible fiscal and monetary policies. Despite a sharp fall in their popularity, President Poroshenko and his party did not push through populist policies during the current term. If the IMF unlocks the next tranche of its assistance, it will be a message to other EM countries that such behaviour will be rewarded during tough times.



Reform Makes Ukraine Unlikely Bright Spot in EM

United States

VanEck J.P Morgan EM Local Currency Bond ETF is an exchange-traded fund incorporated in the USA. The Fund seeks investment results the correspond with the performance of the J.P. Morgan Government Bond Index Emerging Markets  Global Core.

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VanEck J. P. Morgan EM Local C (EMLC US)

Weekly Market Monitor Week 8 - Sticky Inflation, Moving Average Anxiety, and the Bond Yield Issue

Every week, the True Insights Weekly Market Monitor keeps you updated on the biggest developments driving financial markets. Not just good stories...

Jeroen Blokland

Reform Makes Ukraine Unlikely Bright Spot in EM

Ukraine is a rare example of an EM economy that has managed to attract portfolio inflows amidst the recent sell-off thanks to its commitment to...

Tatiana Orlova

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52-week Range

Market Cap (USDm)

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