Le rôle de la transition énergétique dans la lutte contre les changements climatiques
mai 3, 2024
La hausse des températures, attribuable à l’augmentation des niveaux de gaz à effet de serre (GES) dans notre atmosphère, jette une ombre sur l’avenir de notre planète. L’inaction pourrait avoir des conséquences désastreuses, créant un contexte de risques physiques et économiques. La cause fondamentale du problème est l’activité humaine, et plus particulièrement les émissions de […]
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Insights from our recent trip to Poland and Turkey
mai 2, 2024 | Gestion d’actifs Global Alpha Ltée
Key economic developments and investment prospects from our latest visit to these vibrant markets.
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Better March monetary data but more improvement needed
avril 29, 2024 | NS Partners
Monetary recovery still fragile. Global six-month real narrow money momentum returned to positive territory in March but remains weak and could reverse lower as headline CPI momentum recovers and US Treasury financing operations turn contractionary (see charts). Flash PMIs question upswing hopes. DM results suggest that global new orders fell back this month, possibly marking […]
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MENA Q1 2024 Manager Letter
avril 26, 2024
In our 1st quarter investor letter, we discuss our views on the MENA equity markets and the main return drivers for the strategy during the quarter.
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FEM Q1 2024 Manager Letter
avril 26, 2024
In our 1st quarter investor letter, we discuss our views on frontier emerging markets and the main return drivers for the strategy over the period.
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Assessing UK house price valuation: a real yield-based approach
avril 26, 2024 | NS Partners
UK house prices were an estimated 52% expensive relative to history at the end of 2023, based on a comparison with rents and the real yield on index-linked gilts, a competing inflation-protected asset. The degree of overvaluation is below previous extremes and does not imply that house prices need to fall by an equivalent magnitude, or even at all – the deviation could be eliminated by rental growth and a reversal of the recent rise in real yields.
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Thirst for water sustainability
avril 25, 2024 | Gestion d’actifs Global Alpha Ltée
Examining global water issues and investments for sustainable management.
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Is the UK MPC already too late?
avril 19, 2024 | NS Partners
A modest upside inflation surprise in March has been portrayed as confirming that inflationary pressures remain sticky, warranting further delay in policy easing. The stickiness charge is bizarre in the context of recent aggregate data. The six-month rate of change of core consumer prices, seasonally adjusted, has fallen from a peak of 8.4% annualised in July 2023 to 2.4% in March.
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Marco Polo tales
avril 18, 2024 | Gestion d’actifs Global Alpha Ltée
Exploring Asia and insights from Japan and China.
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What is the catalyst for EM equities?
avril 17, 2024 | NS Partners
Is a potential double positive in global excess money set to boost EM equities?
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2024 European earnings and expectations
avril 11, 2024 | Gestion d’actifs Global Alpha Ltée
Insights into Europe via Sopra Steria’s & Melia Hotel’s growth.
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Research Trip – Saudi Arabia and Dubai, Feb. 2024
avril 11, 2024
Insights from our most recent research trip.
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The return of M&A boosts small cap performance
avril 4, 2024 | Gestion d’actifs Global Alpha Ltée
Insights on navigating the M&A wave.
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A “monetarist” perspective on current equity markets
avril 4, 2024 | NS Partners
The quarterly commentary in mid-2023 noted that the cycle and monetary analyses were giving conflicting signals. The stockbuilding cycle appeared to be tracing out a low, a development usually associated with stronger performance of equities and other cyclical assets. However, greater weight was accorded to continued weakness in global real narrow money momentum, which suggested downside risk to economic activity and insufficient liquidity to support market gains.
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