Latest blog articles
Goldman Sachs cuts equities to "neutral", upgrades commodities
"Until we see sustained signals of growth recovery, we do not feel comfortable taking equity risk, particularly as valuations are near peak levels," it said.
"Our equity strategists have become more defensive, owing to heightened drawdown risk and growth scarcity," it added in a note dated May 17.
Goldman Sachs said commodities had rallied on the back of a dovish U.S Federal Reserve, Chinese economic data and supply disruptions. It upgraded commodities, saying that such supply disruptions should support oil prices.
"We think continued fundamental adjustments in both the physical and capital markets are needed, and now see oil prices reaching $60/bln in 4Q 2017 vs. mid-2017 previously. We remain bearish on metals."
It stayed "overweight" on credit over both 3- and 12-month horizons. It remained "underweight" on bonds, but lowered its bond yield forecasts in the major advanced economies by an average of 30-40 basis points.
"Given we do not see much value across asset classes and we see a variety of cross-asset risks, we remain 'Overweight' cash near term. We believe the market's dovish pricing of the Fed increases rate shock risk, in which case both equity and bonds could sell off."Read on the original site
Iceland left-green alliance to launch talks on forming government
Reykjavik (AFP) - Iceland's Left-Green movement agreed on Sunday to start formal talks on forming a new coalition government, three weeks after snap elections triggered by the Panama Papers scandal.Allied with the anti-establishment Pirate Party, the Social Democrats and the Bright Future party, the Left-Green faces the uphill task of forging a governing coalition with the centre right Reform Party."Everyone is ready to start formal talks", said Katrin Jakobsdottir, the leader of the Left-Green… chat_bubble_outline Read More...
Planes launched off US carrier in Gulf pound IS militants
ABOARD THE USS EISENHOWER (AP) — One after another, fighter jets catapult from the flight deck of the USS Eisenhower, a thousand-foot (305-meter) American aircraft carrier, afterburners glowing amber above the blue Persian Gulf, on their way northwest to join the fight in Iraq and Syria against the Islamic State group.The fighter jets refuel on the way before receiving from coalition partners targets like convoys, hideouts and mortar positions in IS-controlled territories such as Mosul in Iraq… chat_bubble_outline Read More...
HCM City to assist SMEs that invest in support industry
HCM City plans to provide special policies and incentives for businesses, especially small- and medium-sized enterprises (SMEs), which invest in support industries, the deputy director of the Department of Industry and Trade has said. HCM City plans to provide special policies and incentives for businesses, especially small- and medium-sized enterprises (SMEs), which invest in support industries. Speaking at a meeting on the role of SMEs in developing a support industry, Nguyen… chat_bubble_outline Read More...
Trump backs LA bid for 2024 Olympics: mayor's office
Los Angeles (AFP) - US President-elect Donald Trump has offered his support to Los Angeles's bid to host the 2024 Olympics, the mayor's office said Thursday.The Republican billionaire spoke by phone with Los Angeles Mayor Eric Garcetti and the two men had a "productive conversation," Garcetti's spokeswoman Connie Llanos said.During the conversation Trump, who will succeed Democratic President Barack Obama on January 20, indicated his support for LA's bid, she said.Los Angeles hosted the Summer… chat_bubble_outline Read More...
Heavy Syrian army shelling hits rebel Aleppo: monitor
Beirut (AFP) - Syrian government artillery bombarded the fast-shrinking rebel enclave in the heart of Aleppo on Friday despite its ally Russia's announcement of a new humanitarian pause, a monitor said.Air strikes halted on Thursday evening following Moscow's announcement but shelling continued throughout the night and into the morning, the Syrian Observatory for Human Rights said.An AFP correspondent in the rebel-held enclave reported hearing the boom of artillery through the night."There was… chat_bubble_outline Read More...