A tale of two supermarkets
9th November 2018
We outline recent credit developments at Distribuidora Internacional de Alimentación (“Dia”) and Tesco as well as the impact of the ECB on bond pricing. DIA is predominantly an Iberian supermarket, whose stocks and bonds have experienced something of a roller-coaster ride since October. Unfortunately for DIA and its key stakeholders, the ride is unlikely to […] more
EM – Not fixing the roof while the sun is shining…?
29th August 2018
EM – Not fixing the roof while the sun is shining…? On Friday (24 Aug), S&P downgraded Zambia to B- from B[1] and kept it on a stable outlook. At time of writing (28 Aug), all its USD bonds are trading at spreads of more than 1000bps[2], over the respective US Treasury Note. This is […] more
Stress Testing and the Global Economy : Main Drivers and Risks
11th May 2018
At the end of 2017, Antonio Del Favero, Senior Portfolio Strategist highlighted the increasing risk of a correction in 2018 – despite the loose financial conditions at the time. In March, Antonio presented his updated analysis to the Stress Testing and the Global Economy: Main Drivers and Risk event in Zurich. Up for discussion was the […] more
Senior Portfolio Strategist, Antonio Del Favero on Bloomberg Surveillance
10th May 2018
Earlier this week (Wednesday 9 May), Senior Portfolio Manager at Rubrics, Antonio Del Favero featured on Bloomberg Surveillance with Francine Lacqua. Up for discussion was the increasing political risk and its effects on the markets, and the current less synchronised world growth. Watch part one of the discussion focussing on Trump’s decision to withdraw US […] more
