After the “rescue” of Greece and the already agreed QE of the ECB, no new topics seem to arise. On both sides of the Atlantic, close attention is paid to any indication of rising inflation. Once again the job data was good and might lead to an early rate hike by the FED. On the other hand, we find another downward trend for oil prices, after a short-lived upward move. The Euro continues to slide against the US Dollar which is a burden for exporting industries in the US. The US currency does not only show relative strength versus the Euro but against currencies all over the globe.
As suspected in our last monthly review, the more offensive sectors and equity segments left their defensive peers behind. Nothing indicates a reversal of this trend, especially not for the strongest exporting nations in Europe.
Under Strategies we now provide an excerpt of our proprietary analysis tool. It serves to demonstrate our investment strategies in an interactive way. The tool allows to enter your own time series to compare or to combine with each other, and with our strategies. A selection of rebalancing and weighting methods is also available. We would be happy to receive your feedback.