Points of view of Dorval AM experts

Top point of view
10/05/2021
Exposure rates of the Dorval Asset Management Range – 7th May 2021
Jerome Powell had cautioned that he would take all the time needed to assess the extent of the recovery under way on the labor market. April’s surprising figures – with unemployment rising to 6.1% vs. 5.8% expected (cf. chart 1) – demonstrate that it will indeed take some time to get a clear idea on job stats, even though the economy’s overall trend is extremely clear and positive.
Top point of view
03/05/2021
Exposure rates of the Dorval Asset Management Range – 30th April 2021
The broad extension of the economic recovery across various geographies and sectors is being confirmed. The business climate is already taking off in Europe with countries only just beginning to emerge from lockdown. Meanwhile industrial commodities prices are climbing higher and higher.
Top point of view
26/04/2021
Exposure rates of the Dorval Asset Management Range – 23rd April 2021
The robust economic recovery has already had a very visible impact on the state of most listed companies. Investors are also keeping a close eye on how this recovery trickles through to the labor market, which will dictate the reaction from central banks.
Top point of view
19/04/2021
Exposure rates of the Dorval Asset Management Range – 16th April 2021
Recent economic indicators attest to the robust world recovery taking place on several fronts, although this flurry of good news has not triggered tension on long-term yields, and this is shoring up investor optimism. However, real rates will probably rise gradually out to the end of the year.
Top point of view
12/04/2021
Exposure rates of the Dorval Asset Management Range – 9th April 2021
The world financial markets are embarking on a fresh phase characterized by the materialization of the much-awaited economic boom, firstly in the US and UK, and then in Europe in the coming weeks, all under the watchful eye of a benevolent Federal Reserve – which like doubting Thomas needs to see to believe – and the US administration promoting a new paradigm.
Top point of view
01/04/2021
Exposure rates of the Dorval Asset Management Range – 1st April 2021
The $2.25 trillion Biden plan announced these past few days still needs to be fleshed out and – more importantly – it also faces debate in Congress. However the stimulus package clearly bolsters the growth outlook for the US economy, which has already embarked on its recovery. So with the restrictions imposed to tackle the pandemic gradually coming to an end, all lights are now on go.
Top point of view
29/03/2021
Exposure rates of the Dorval Asset Management Range – 26th March 2021
Despite the setbacks on the pandemic front in Europe, investors remain heartened by the current outlook shored up by vaccines and support programs, as well as the economy’s resilience. The fully justified expectations of an economic recovery are already broadly priced in, although perhaps not yet to the extent where a change in strategy is called for.
22/03/2021
Exposure rates of the Dorval Asset Management Range – 19th March 2021
Growth in the United States has been upgraded spectacularly on the back of a trio of factors i.e. the economy opening up again as a result of vaccines, fiscal and monetary support, and the savings built up during health restrictions predictably being mobilized.
15/03/2021
Exposure rates of the Dorval Asset Management Range – 12th March 2021
The economic outlook is brightening in Europe despite the setbacks suffered in the vaccination campaign.
08/03/2021
Exposure rates of the Dorval Asset Management Range – 5th March 2021
The economic boom currently in the making is going hand in hand with a swift resteepening in the yield curves, particularly in the US.
01/03/2021
Exposure rates of the Dorval Asset Management Range – 26th February 2021
With US long-term rates surging at a faster pace, the theme of excess is making an appearance on the markets. 
22/02/2021
Exposure rates of the Dorval Asset Management Range – 19th February 2021
The speedy surge in US rates is the downside of the expected economic boom, while very solid corporate earnings for 4Q 2020 represent the positive flipside – posting very strong showings at a time when the world economy still remained far removed from its usual pace of growth.

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