At ECB Meeting, Shock and Bore, GDP from the industry viewpoint, and Where in the world to invest?
Here are the top 3 insights for July 26th
- Janus Henderson: At ECB Meeting, Shock and Bore
- Deloitte: GDP from the industry viewpoint
- Fidelity: Where in the world to invest?
- The market has moved to price in an additional 20 basis points of rate cuts in the coming months, and peripheral bond yields and corporate spreads have fallen dramatically on the expectation of a significant asset purchase program.
- Despite the headline billing for today’s meeting, the ECB managed to deliver “shock and bore” rather than “shock and awe” to investors.
- As a result, the markets’ initially euphoric reaction to the confirmation of an imminent shift to easier policy has quickly been unwound, with the euro heading toward the highs of the day, German bund yields — having hit record lows — retreating sharply and equities turning flat for the day.
Genuine Scores for the top 3 EuroZone funds
- Lyxor EURO Stoxx 50 (DR) UCITS ETF, 77
- L&G Euro Treasury Bond Index Z: 73
- UBS ETF MSCI EMU hgd to USD UCITS: 73
- The current economic recovery turned 10 years this June, marking the longest sustained expansion in US history.
- Services has been, by far, the biggest contributor to GDP, accounting for over 68 percent in 2018.
- Within services, the industry that makes up Wall Street — finance, insurance, and real estate — alone accounted for a fifth of the total economy, making it the largest industry by contribution to GDP.
- Within services, what is remarkable is the growth in the information industry, which has experienced average annual growth of over 9 percent since 2015.
Genuine Scores for top 3 US Financials Stocks
- Qudian: 72
- MetLife: 72
- Aflac: 72
- The organisation, that works to foster global monetary co-operation, has revised its forecast for global growth to 3.2% in 2019, which is 0.1% lower than envisaged in April. Forecast growth for 2020 was also cut by 0.1% to 3.5%.
- Here the IMF has upgraded its forecast for US growth this year from 2.3% to 2.6%, while China’s has been downgraded from 6.3% to 6.2%.
- The prospect of a cut in US rates, which would weaken the dollar, has boosted the appeal of gold.
Genuine Scores for the top 3 American Alternative Funds:
- GMO Opportunistic Income Fund: 100
- FPA New Income Fund: 99
- PIMCO Mortgage Opp and Bond Fund: 99
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All the best,
Genuine Impact Team
p.s. all Genuine Scores are accurate as of the 26th of July