Points of view of Dorval AM experts

Top point of view
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. 
Top point of view
17/06/2019
Exposure rates of the Dorval Asset Management Range – 17th June 2019
Donald Trump avoided a worst-case scenario when he finally decided not to apply border tariffs on Mexican goods, so now we just need to hope that the escalating trade war with China can also be put to an end in late June at the G20 summit in Osaka. But there are huge doubts on this. 
Top point of view
11/06/2019
Exposure rates of the Dorval Asset Management Range – 7th June 2019
The great debate on the feasibility of a recessionary scenario in the US has kicked off. Poor payroll figures in May establish the economic slowdown in the country, but the Fed should react quickly by cutting interest rates. 
Top point of view
03/06/2019
Exposure rates of the Dorval Asset Management Range – 31st May 2019
Donald Trump’s threat to introduce border tariffs of 5% initially and 25% later on $350bn in Mexican imports is an attempt to force his neighbour to combat illegal emigration to the US. 
Top point of view
27/05/2019
Exposure rates of the Dorval Asset Management Range – 24th May 2019
Poor Markit business survey indicators in the US in May (cf. chart 1) are prompting some to wonder if an economic shock is brewing in the country.
Top point of view
20/05/2019
Exposure rates of the Dorval Asset Management Range – 20th May 2019
After the sudden hike in US border tariffs on Chinese imports at the start of the month, investors are now caught up in the cross-fire of the trade war again. China is retaliating gradually but surely, firstly by slightly upping duties on some US imports ($60bn), then by the drop in the yuan that is set to follow.
Top point of view
13/05/2019
Exposure rates of the Dorval Asset Management Range – 13th May 2019
After an easing on the political front that seemed to point to a US-China trade agreement, the US administration’s decision to ratchet up border tariffs on $200bn of Chinese goods from 10% to 25% came as a severe blow to the markets.
Top point of view
06/05/2019
Exposure rates of the Dorval Asset Management Range – 5th May 2019
Fund managers are all asking the same question, driven by the old stock-market saying “Sell in May and go away”, i.e. after a sharp surge on the financial markets since the start of the year, is it maybe time to divest and get ready for the holidays? 
Top point of view
29/04/2019
Exposure rates of the Dorval Asset Management Range – 29th April 2019
According to the first advance estimate, US GDP came out well ahead of expectations for the first quarter of the year, rising at an annual pace of 3.2% as compared with 2.3% expected. 
23/04/2019
Exposure rates of the Dorval Asset Management Range – 23th April 2019
European business surveys have been stuck on lacklustre levels since the start of the year, while the equity markets have surged dramatically (cf. chart 1), with a particularly forceful rebound for the most cyclical stocks over recent weeks, including the much-maligned banking sector.
15/04/2019
Exposure rates of the Dorval Asset Management Range – 12th April 2019
It is not as if it really needed to be demonstrated, but the impact of sound Chinese indicators on the world markets once again confirmed China’s hefty influence on the world economy.
08/04/2019
Exposure rates of the Dorval Asset Management Range – 8th April 2019
So are we in the midst of an economic recovery or not ? The latest business surveys suggest that the world economy was on the up for the second month in a row in March, and while this is admittedly not enough to jump for joy yet, a stabilising Chinese economy and the prospect of a US-China agreement definitely mark a vast shift in the situation compared to last year.

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