Expert opinion

Allianz Global Investors has brought a volatility-focused absolute return fund to the Swiss market.

October is over and the next two months will mark the conclusion of this election year but, above all, the end of one of the nastiest presidential campaigns in the U.S. history. A glance at the statistics reveals that the election year is usually favorable to Wall Street, even if not an easy journey most of the times.

This year has been full of surprises. Commodity prices kicked things off with a steep and unexpected drop before steadily rebounding. Then Brexit happened – or the vote did, at least. The political pandemonium has been prolonged since, with Donald Trump closing in on presidential rival and early-favourite Hilary Clinton.

D. Salvatore, Distinguished Professor of Economics and Director of the Global Economic Policy Center at Fordham University (New York), will examine the prospects and policies for United States, Europe, Japan, China , India, Brazil and Russia to overcome recession and return to rapid growth.

By mid-Thursday the USD/CAD currency exchange rate had touched the 1.3395 level and retreated from it. Although the pair retreated from the 1.3395 level, there are no notable resistance levels at that point, as even the upper Bollinger band was located at 1.3402 on Thursday. It is most likely that the exchange rate is affected by some sort of short term resistance, which has propelled the rate lower for now. In the meantime, on the daily chart the pair faces no resistance up to the level of 1.3463, where the weekly R1 is located at. The only exception being the mentioned Bollinger band.

Le Conseil fédéral a abaissé mercredi à 1% le taux d’intérêt minimal de la prévoyance professionnelle. Les organisations syndicales réclament un renforcement du premier pilier pour compenser la baisse des rentes de la LPP.

After the big surprise of Brexit, anything seems possible. However, the presidential election in the United States is hardly comparable to the British referendum. The United Kingdom’s electorate consists of a large dominant block of white voters (94%), while in the US, there is much more diversity amongst voters with 30% ethnic minorities.

In this last period, I read on many financial web sites some warning comments about the potential and imminent starting of a bear market on the S&P 500. The main point that these sites show graphically, is the rising trend of the index from 2009 and the price break of a short term trend line togheter with a medium term oscillator reversing (graph 1, A and detail in B). Other websites point out a downside breakout of a short term simmetric triangle (graph 1, C).