◀ The Principal Blog

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Short and Sharp: In an uncertain world, German voters value continuity and stability



The German economy seems to be going from strength to strength. Unemployment has fallen to just 3.8%, consumer confidence is encouragingly positive, and the Ifo business confidence index is close to record highs. Perhaps it is no wonder that Angela Merkel is likely to win a fourth term as German…

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Where to find strategic relative value in Q3



As I look at the macro environment in the third quarter, I see a coasting global recovery of solid stable growth. Subdued inflationary pressures mean that monetary policy will be tightened only gradually, and this will support risk taking. In the current environment, I prefer equities over fixed…

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