Points of view of Dorval AM experts

Top point of view
25/10/2021
Exposure rates of the Dorval Asset Management Range – 22nd October 2021
Chinese real estate titan Evergrande has managed to delay official default with an eleventh-hour dollar coupon payment just the day before the deadline. However, no clear plan has been set for restructuring the group, although the Chinese authorities have successfully managed to curtail financial contagion (cf. chart 1).
Top point of view
18/10/2021
Exposure rates of the Dorval Asset Management Range – 15th October 2021
The growth downgrade/inflation upgrade process has popularized the stagflation concept, although this theory seems fairly unfitting against a backdrop of falling unemployment and reopening economies.
Top point of view
11/10/2021
Exposure rates of the Dorval Asset Management Range – 8th October 2021
Extreme – and perhaps even excessive – tension on natural gas prices is representative of the rush to rebuild inventories on a whole range of products. However, the initially negative impact on world growth will be offset by the uptick for services, driven by success in getting a hold on the pandemic.
Top point of view
04/10/2021
Exposure rates of the Dorval Asset Management Range – 1st October 2021
Successful efforts to get a handle on the pandemic are obviously very good news for the world economy, but there is also a downside, with severe tension on prices unsettling investors and some central banks poised to take a slightly less accommodative stance.
Top point of view
27/09/2021
Exposure rates of the Dorval Asset Management Range – 24th September 2021
The transition from “whatever it takes” to self-sustaining economic growth is running up against supply glitches of unprecedented proportions, primarily in manufacturing. Tackling these supply-side constraints – which are affecting both prices and output – will be the major challenge for the quarters to come.
Top point of view
20/09/2021
Exposure rates of the Dorval Asset Management Range – 17th September 2021
The weeks ahead will reveal how China will actually manage the Evergrande affair and hence provide some insight into the financial fallout. There will be a real economic impact for China, although this is set to be at least partly offset by the positive effects of greater control over the Delta variant.
13/09/2021
Exposure rates of the Dorval Asset Management Range – 10th September 2021
If countries manage to get a full grip on the Delta variant, the output-price mix in the global recovery should finally start to pick up over the months ahead, particularly in manufacturing, where rising prices reflect sometimes massive bottlenecks.
06/09/2021
Exposure rates of the Dorval Asset Management Range – 3rd September 2021
Le variant Delta continue de limiter la production monaThe Delta variant continues to curb world output while pushing up prices in some sectors. However, the United States seems to be hitting a peak in Covid-19 cases, and the situation is finally beginning to perk up in Asia.diale et de faire monter les prix dans certains secteurs. Le pic des cas de Covid-19 semble cependant en passe d’être atteint aux Etats-Unis, et la situation commence enfin à s’améliorer en Asie.
30/08/2021
Exposure rates of the Dorval Asset Management Range – 27th August 2021
The equity markets have been in a state of suspended animation this past week as investors waited for the central bank chiefs’ pow-wow at Jackson Hole.
23/08/2021
Exposure rates of the Dorval Asset Management Range – 20th August 2021
Economic growth projections have been dampened by the deterioration in US economic indicators, primarily on consumer spending in the wake of the fourth wave of the Covid-19 pandemic.
16/08/2021
Exposure rates of the Dorval Asset Management Range – 13th August 2021
The international markets have marched on with their gains – albeit with extremely meager volumes – as the S&P 500 hit a fresh high close to the 4,500 mark.
09/08/2021
Exposure rates of the Dorval Asset Management Range – 6th August 2021
Strong labor market figures out of the US in July point to a continued normalization – and even acceleration – in the country’s economy. This could help put an end to the dip in long-term yields, the extent of which had surprised and sometimes worried investors.

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