Geneva Management Group Q2 2017

Geneva Management Group

Q2 2017

Market Comment

A cornerstone has been removed from the main consensual political risk scenario in place since last year. The relief generated by Emanuel Macron’s election, a leader in favour of Europe, and the success of his new party at the legislative vote support the markets and confirm the positive sentiment toward Europe and its economic recovery. Investors then failed to find something consistent enough to focus on. Bored by the US Trump “show”, the Brexit negotiations and hesitant in front of higher valuations, they finally drew their attention back to central banks and their apparent decision to tackle the issue of the enormous balance sheet.

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