Decoupling, or converging to the new normal?

During the past 10 years we have heard competing narratives about the existing degree of synchronization between emerging and developed economies: from talking back in 2008 about the “decoupling” of emerging economies from the US subprime crisis, to defending the “insularity” of the US economy against foreign shocks, particularly those arising from a slowdown in … Continued

2016: Looking back and looking forward

This is time for reflecting back on the year ending and making resolutions for the new to come. From an investment perspective however, we will end a rollercoaster year close to the levels where we started in many asset classes, what prompts me to look further into the past in order to understand why we … Continued