FlowBank

1170 days ago

A strong start of the year for risk assets

As highlighted by Mohamed El-Erian, "The strong 2021 start for investors (see data below) has come with an intensification of the co-dependent relationship involving markets and central banks: Markets love signals of more liquidity support, mainly but not exclusively from the central banks; and Central banks are now responding to even small unfavorable market moves".

Selected asset classes performance in 2020 and 2021 YTD

1171 days ago

According to BofA Fund manager survey, Bitcoin tops the most crowded trades list. How could it be?

Just like in December 2017, #bitcoin now tops Bank of America's Global Fund Manager Survey's most crowded trade list. However, one could wonder how an asset class with a market cap less than USD 700 billion could be the most crowded trade? How many large banks have included Bitcoin in their asset allocation grids? How can long only mutual fund manager play this asset class in their portfolios? 

Global Fund Manager Survey - most crowded trades

1172 days ago

Mid-caps are one area to dodge excessive valuations

Current valuations for blue chips and especially small caps imply poor returns are coming from here. Time for a middle of the road approach?

Mid-caps are one area to dodge excessive valuations

1173 days ago

Cross-assets Year-to-date performance

Reflation trade is on with Commodities and Global equities leading - source: Investopedia 

Cross assets performance year-to-date as of January 15th

1175 days ago

Post-election rally: "reflation" assets on the lead

Cross assets performance since the election (in blue) and year to date (in white). Source: JPM Cross assets

Cross-assets performance
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