Category Archives: Tony Boeckh

TONY BOECKH: INCREASING RISKS

Posted on August 27, 2010 by Denis Ouellet

Tony Boeckh is also getting more cautious on risk assets: A double-dip U.S. recession is still not a done deal but forces are all on the side of economic weakness and deflation, and a double-dip recession next year carries a … Continue reading →

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Posted in CONTRIBUTORS, Chinese Equities, ECONOMY, EQUITIES, FISCAL STIM./DEF., GOLD, INFLATION/DEFLATION, INTEREST RATES, INVESTING, Oil, Tony Boeckh, US equities, bonds | Leave a comment
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TONY BOECKH: VOLATILITY, CORRELATIONS AND RETURNS IN THE NEW ENVIRONMENT

Posted on August 15, 2010 by Denis Ouellet

Liquidity will likely continue to be the primary determinant of equity markets. We are still bullish on equities in the short term. the current period of low long‐term interest rates should be thought of as an extended base building period … Continue reading →

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Posted in CONTRIBUTORS, EQUITIES, INTEREST RATES, INVESTING, Tony Boeckh, US equities, bonds | Leave a comment

TONY BOECKH: THE ARTIFICIAL ECONOMIC RECOVERY

Posted on July 24, 2010 by Denis Ouellet

While the economic outlook is less than rosy, there are the beginnings of some potentially positive developments in the financial system. There are tentative signs that U.S. monetary constipation is easing. The implication of the tentative improvement in money and … Continue reading →

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Posted in CONTRIBUTORS, CURRENCIES, ECONOMY, EQUITIES, GOLD, INTEREST RATES, INVESTING, Tony Boeckh, US equities, bonds | Leave a comment

Tony Boeckh: Still Positive on Risk Assets

Posted on June 30, 2010 by Denis Ouellet

Tony Boeckh: The recovery is intact, but will slow significantly and remain uneven, with risks to the downside. with so many G20 countries with unsustainable fiscal positions, the risk of contagion is high. this is an untested economic environment with … Continue reading →

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Posted in COMMODITIES, CURRENCIES, Chinese Equities, ECONOMY, EQUITIES, Emerging Markets, GOLD, INFLATION/DEFLATION, INTEREST RATES, INVESTING, Natural Gas, Oil, Tony Boeckh, US equities, bonds | Leave a comment

Tony Boeckh: Enough Blood in the Streets?

Posted on June 7, 2010 by Denis Ouellet

So far, the key benchmarks of stability in U.S. Treasury bonds, the U.S. dollar, U.S. corporate bond spreads and low to zero price inflation are still flashing green. This means that the Federal Reserve can continue to pump liquidity into … Continue reading →

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Posted in COMMODITIES, China economy, ECONOMY, EQUITIES, INFLATION/DEFLATION, INVESTING, Tony Boeckh, bonds | Leave a comment

Tony Boeckh: The Great Reflation

Posted on May 4, 2010 by Denis Ouellet

Marc Faber: “The Great Reflation is by far the best economic and investment book that I have read in the last ten years. The Mother of all Financial Experiments This commentary discusses some of the key themes in  Tony’s new … Continue reading →

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Posted in INFLATION/DEFLATION, Tony Boeckh | Leave a comment

Tony Boeckh: Still Bullish (Part 2)

Posted on April 28, 2010 by Denis Ouellet

Slower than expected growth isn’t necessarily a big negative for investment returns. Sustainability, liquidity flows, interest rates and long?term profit expectations are crucial variables. It is important to keep in mind that the wealthiest 20% of Americans are responsible for … Continue reading →

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TONY BOECKH: STILL BULLISH

Posted on April 18, 2010 by Denis Ouellet

The liquidity environment continues to be positive for risk assets, market prices are likely to remain on an upward trend, mergers and acquisitions will increase and investment funds will continue to seek out good value. The reality is that investors … Continue reading →

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Posted in COMMODITIES, Chinese Equities, ECONOMY, EQUITIES, Emerging Markets, GOLD, INFLATION/DEFLATION, INTEREST RATES, INVESTING, Tony Boeckh, US equities, bonds | Leave a comment

CHINA: ARE THE BEARS OUT TO LUNCH?

Posted on March 12, 2010 by Denis Ouellet

There is a rising chorus of sceptics who argue that the recovery is hollow and that the miraculous growth rates China has achieved over the last 15 years will soon be over. At its most basic level, the bear argument … Continue reading →

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Posted in CURRENCIES, China Inflation/Deflation, China economy, Chinese Equities, ECONOMY, EQUITIES, INFLATION/DEFLATION, INTEREST RATES, Tony Boeckh | Leave a comment

THE RETURN OF THE BOND VIGILANTES

Posted on March 3, 2010 by Denis Ouellet

Tony Boeckh: The bull market is intact, but it does depend on continuing government intervention to compensate for weak consumption and deleveraging. However, gains in 2010 will be much harder to come by than last year. Government bond yields have … Continue reading →

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Posted in COMMODITIES, CURRENCIES, EQUITIES, GOLD, INTEREST RATES, INVESTING, Tony Boeckh, bonds | Leave a comment

TONY BOECKH: GLOBAL DISEQUILIBRIA

Posted on February 7, 2010 by Denis Ouellet

Our basic view remains unchanged; we remain positive on equity markets, credit spreads and most commodities because liquidity flows are still very positive and key indicators are supportive. However, we still are very concerned about the artificial nature of the … Continue reading →

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Posted in COMMODITIES, CURRENCIES, ECONOMY, EQUITIES, GOLD, INTEREST RATES, Tony Boeckh | Leave a comment

SOMETHING HAS TO GIVE

Posted on December 5, 2009 by Denis Ouellet CFA

Three commentators discuss the same phenomenon: OVER THE PAST DECADE, stock and bond prices have generally moved in opposite directions, meaning that share prices and bond yields have moved together, both higher and lower.(…) This important relationship held true this … Continue reading →

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Posted in COMMODITIES, CURRENCIES, EQUITIES, GOLD, INTEREST RATES, Tony Boeckh, Uncategorized | Tagged , , , , , | Leave a comment