Dorval AM (Eng)

First established in 1993, Dorval Asset Management is a renowned management company specialising in flexible strategies and European equities.

[Dorval AM (Eng) @DorvalAM_Eng]

Therefore, for the moment, we are still favouring money #market investments over safe-haven bonds in the “risk-free” part of our #allocations, as we have since the end of 2021. #markets #analysis #investment #bringingvaluetoyourvalues

[Dorval AM (Eng) @DorvalAM_Eng]

Despite four #ECB rate cuts since June 2024, the #eurozone’s benchmark yield curve remains significantly inverted: At 2.2%, German 10-year rates are still 65 basis points below the 3-month Euribor. #markets #analysis #investment #bringingvaluetoyourvalues

[Dorval AM (Eng) @DorvalAM_Eng]

This asymmetry significantly reduces #Bunds’ appeal as a hedge against a decline in equities caused by a hypothetical #European recession.#markets #analysis #investment #bringingvaluetoyourvalues

[Dorval AM (Eng) @DorvalAM_Eng]

The usual determining factors of the #German yield curve suggest that it is probably too inverted, which reduces #Bunds’ appeal as an equity portfolio hedge. #markets #analysis #investment #bringingvaluetoyourvalues

[Dorval AM (Eng) @DorvalAM_Eng]

[#weeklynote] While the #ECB confirmed its policy of cutting short-term interest #rates, German long-term interest rates are now struggling to keep up.

▶️ Our scenarios : https://t.co/rrXkBkXKgV

#markets #analysis #investment #bringingvaluetoyourvalues

[Dorval AM (Eng) @DorvalAM_Eng]

We are nevertheless keeping a watchful eye on #inflationary and #trade outlooks, and on the risk of #economic overheating that could spell the end of rate cuts by the #US #Federal Reserve. #markets #analysis #investment #convictions

[Dorval AM (Eng) @DorvalAM_Eng]

[#weeklynote] Donald Trump’s re-election has created an asymmetric shock on the markets, to the advantage of Wall Street and to the detriment of the rest of the world.

▶️ Our scenarios : https://t.co/0x99W0NpYt

#markets #analysis #investment #bringingvaluetoyourvalues

[Dorval AM (Eng) @DorvalAM_Eng]

As such, we are maintaining our #exposure to #equities in our global portfolios as it stands at this stage. #markets #analysis #investment #convictions