Points of view of Dorval AM experts

09/09/2019
Exposure rates of the Dorval Asset Management Range – 6th September 2019
Here at Dorval Asset Management, our investment process is based on a top-down portfolio management approach, as we screen holdings in four analysis stages:
02/09/2019
Exposure rates of the Dorval Asset Management Range – 30th August 2019
Several varied political issues are still a focus for investor concern, as they involve very clear risks for the world economy i.e. the decline in trade, sluggish investment, disruption to supply, green regulation denting growth, ideological opposition to stimulus policies in Europe, etc... 
26/08/2019
Exposure rates of the Dorval Asset Management Range – 23rd August 2019
There is increasing talk of a so-called green new deal in Europe, but yet combining ecological imperatives with macroeconomic management carries its fair share of risks.
19/08/2019
Exposure rates of the Dorval Asset Management Range – 16th August 2019
Does a recession become more likely when the yield curve inverts?
12/08/2019
Exposure rates of the Dorval Asset Management Range – 9th August 2019
The week kicked off with the renminbi’s decline against the dollar, as it moved beyond the symbolic 7-to-the-dollar threshold (cf. chart 1), hot on the heels of Donald Trump’s surprise announcement at the end of last week that he would slap 10% border tariffs on the remaining $300bn in Chinese imports into the US. The Chinese authorities claim that they did not stage-manage this depreciation, but the underlying message is fairly clear – the battle of wills between the two heavyweights is far from over.
05/08/2019
Exposure rates of the Dorval Asset Management Range – 2nd August 2019
The Fed’s insurance cut – slicing 25bps off its federal funds rate on July 31 – was criticised by some, but swiftly proved to be timely when Donald Trump ratcheted trade tension up further and announced 10% border tariffs on another $300bn in Chinese imports that had so far escaped taxes, applicable as of September 1.
29/07/2019
Exposure rates of the Dorval Asset Management Range – 26th July 2019
Growth in the US economy came out at 2.1% in the second quarter, a nudge above the consensus but short of the 3.1% posted in the first quarter of the year. 
22/07/2019
Exposure rates of the Dorval Asset Management Range – 19th July 2019
GDP growth in China came out at 6.2% yoy in the second quarter of the year according to government statistics, in a gradual economic slowdown that is intentional on the authorities’ part, and inevitable as well as advisable.
15/07/2019
Exposure rates of the Dorval Asset Management Range – 12th July 2019
Long-term rates have been plummeting since the end of 2018, so questions on the meaning and impact of this trend for the stock-markets are foremost in investors’ minds.
08/07/2019
Exposure rates of the Dorval Asset Management Range – 5th July 2019
The much-awaited US non-farm payroll figures came out ahead of consensus expectations in June, as the economy added 224,000 new jobs vs 160,000 expected and 72,000 the previous month.
01/07/2019
Exposure rates of the Dorval Asset Management Range – 28th June 2019
Investors are banking on Donald Trump holding back in Osaka and a ceasefire being reached with China…only time will tell.
24/06/2019
Exposure rates of the Dorval Asset Management Range – 24th June 2019
The central banks have played their role, so all we need now is for Donald Trump to set out his position on China during the G20 summit in Osaka on June 28 and 29. All bets are still on, but investors are obviously hoping that the US administration will decide not to apply 25% border duties on the more than $300bn in Chinese imports that have so far remained untaxed. 

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