News

In the first month of the year we saw a wave of selles on all the global stock markets, with substantial drops in both the equity and bond markets. The prospect of tighter monetary policies, geopolitical uncertainties and high valuations pushed investors to take profits on a part of the profits recorded in the last year. This volatility has led to losses that have exceeded the levels observed during the most difficult phases of recent financial market history. Let's analyze the reasons for this nervousness. Concern about the rise in interest rates: in December, inflation in the United States [...]

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The month of December saw a general rise in equity markets, despite still negative news on the healthcare front and signs of the approaching end of accommodative monetary policies. The post-coronavirus recovery continues, despite declining dynamics. Therefore, at its December meeting, the US Central Bank (FED) decided, as planned, to reduce bond purchases more faster, no longer by USD 15 but by USD 30 billion per month. In addition, up to three rate increases are expected for coming year. For 2023, interest rates are now set at 1.6%. The bond markets were not impressed by the news, since a great [...]

At the end of November, the financial markets underwent a sudden turnaround, due to the return of the pandemic with the discovery and spread of the new Omicron variant. Not only the threat of inflation and its consequences on the tightening of monetary policies in the world, but also the return of the specter of new closures and blockades due to the re-emergence of contagions have cooled the expectations of financial operators. At the same time, the theme of inflation is becoming increasingly important at a global level, not only in the bond area. From inflation expectations, both those discounted [...]

In October equity markets recovered their September losses and resumed their upward trend, regardless of inflationary pressure. In the United States, nominal interest rates almost equaled the maximum levels set last March, while in Europe they accelerated more than expected and are at the highest level since 2008. American inflation is still struggling to stabilize, having risen from 5.3% in August to 5.4% in September, the highest level in the last thirteen years. This is the fifth consecutive month in which it has exceeded 5%, and increases in energy prices could keep it at high levels, thus contradicting the Federal [...]

September turned out to be a negative month for the main global financial markets. Higher interest rates and concerns about the constant increase in the price of raw materials, especially energy supply costs, have brought uncertainty back to the stock markets. In America, after reaching a new high at the beginning of the month, the S&P500 index fell by 4.80%. Same trend for the Nasdaq which dropped 5.60%, recording the largest monthly loss since March 2020. Same story in Europe, with Euro Stoxx 50 index down 4.20%. Slightly better Italian FTSE MIB index -1.90%. Bad also German DAX index -3.50%. [...]