The world is not yet fully out of the aftermath of the 2007-2008 financial crisis, when the question is already raised on the risk of another crisis.
While still benefitting from a global synchronised growth outlook (likely peaking), financial markets are getting nervous, experiencing the fatigue of a more mature phase with new sources of volatility arising.
Between 100 and 240 billion euro per year. This is what aggressive tax planning costs governments in lost revenue.
The objective of this paper is to describe how an investor can define a target return, split between that of Strategic Asset Allocation (SAA) and excess return derived from active portfolio management.
On March 22, President Trump announced a new round of tariffs on around $50bln of Chinese imports (leaving Europe off for now) and China unveiled tariffs on $3bln of US imports. This adds to the measures announced on March 8, when US President Trump signed an order that imposes tariffs on imported steel (25%) and aluminum (10%), effective on March 23.