COVID 4 : Governments 2 September was a difficult month for equity markets as MSCI ACWI (developed and EM) dropped -3.4%. Tech stocks were particularly hard hit as the NASDAQ fell -12% from peak to trough before recovery a little to be down -5.2% for the month....

Market View A Bump, or Something More? August was the 5th strong consecutive month for Equity and risk assets. From the bottom of the equity market in March, the MSCI World Index was up 53% at the end of August. The Index had not seen a drawdown of 5% or more since...

Market View The Big Dilemma The current Yield to Worst for the Bloomberg Barclays Global Agg Credit Total Return Index, a Global USD Credit Index, is 1.5%. This may seem a low return, however, fund flow data suggests that investors prefer to get a suboptimal low...

Welcome to the inaugural issue of Odyssey’s Capital Pulse, Odyssey Corporate Advisory’s quarterly publication that focuses on major capital and financial markets events that occurred during the quarter and its potential implications for you and your business.
Odyssey Corporate Advisory is an independent boutique consultant providing business advisory, investment consultancy, project management and coordination services for companies that intends to access the Hong Kong capital markets.

Market View Wild Horses In June, risk markets defied rapidly rising new COVID cases in the US and powered higher. Admittedly, the 1.8% rise in the S&P 500 was primarily driven by a 7% rise in the Information Technology and a 5% rise in Consumer Discretionary...

Welcome to the May issue of Odyssey's Lex Capitis, Odyssey Corporate Advisory's publication that highlights capital and financial markets developments and its potential implications for you and your business.   Odyssey Corporate Advisory is an independent boutique...

Market View - The Old Normal Our caution last month proved to be unfounded. The power of the unprecedented stimulus, zero interest rates and the prospect of loosening of lockdown restrictions won the battle against extreme lows in economic activity and the prospect of...

Lex Capitis Odyssey Corporate Advisory’s periodical that highlights capital and financial markets developments and its potential implications for you and your business. Odyssey Corporate Advisory is an independent boutique consultant providing business advisory,...

Market View The equity markets have been buoyant for the last 6 weeks. Global virus cases have peaked and many countries have started a tentative process of loosening lockdown restrictions. To assist the recovery, G20 countries have announced a stimulus program that...

Welcome to the inaugural issue of Odyssey’s Capital Pulse, Odyssey Corporate Advisory’s quarterly publication that focuses on major capital and financial markets events that occurred during the quarter and its potential implications for you and your business.
Odyssey Corporate Advisory is an independent boutique consultant providing business advisory, investment consultancy, project management and coordination services for companies that intends to access the Hong Kong capital markets.

Outlook Despite heightened worries about the impact of the virus on the US, we believe data is consistent with our base case (60% probability) in which new virus cases peak by mid-April in Europe and the US; the most severe restrictions are lifted from May; and a...

February was a tumultuous month for markets, which saw an elevated level of volatility across asset classes that extended even further into early March. Just as the coronavirus appeared to have come under some extent of control in China and other regions, Italy, South...

Markets were risk on at the start of January on the back of optimism around the successful signing of the US-China phase one deal and the easing of US-Iran tensions. However, that was quickly forgotten and reversed following the coronavirus outbreak, which led to an...

All asset classes had an extraordinary year in ’19 with most far surpassing their 10-year averages (Figure 1). Geopolitical uncertainty saw various asset classes move sideways for almost the first half of the year, but markets picked up once we saw clarity. Equities...

Markets traded mostly higher in November on the back of improving trade headlines and despite Trump’s signing of the Hong Kong Human Rights and Democracy Act and potential sanctions against Chinese officials for abuse against the Uighur Muslims. We saw indices in the...

A myriad of positive factors pushed global equities higher, with the MSCI ACWI seeing a total return of 2.76% over the month, before moving higher month-to-date (MTD) in November (+1.35% MTD as at 5th November). This move higher was supported in part by the three US...

Markets saw a risk-on rotation in September (Figure 1) amid positive trade developments earlier in the month. China suspended tariffs on 16 types of US products, while the USA delayed tariff hikes from 1st October to 15th October in order to avoid China's 70th...

August was, as expected, a tricky month for risk assets as geopolitical issues continued to sway markets, forcing investors into safe-haven assets amid escalating trade tensions, the Brexit debacle, and a string of weak macroeconomic data releases. Equity markets were...

Last week saw the heaviest sell-off in the S&P 500 (the worst since Dec ’18), with US indices seeing sharp pullbacks into early August just shortly after making fresh all-time highs in the last week of July. A re-escalation of Sino-US trade tensions, as well as a...

June was a robust month for risk assets with equities rallying on a more ‘dovish’ Fed that shifted from talking about more accommodation to Powell effectively telling markets the Fed will cut rates July – the question now being 25bps or 50bps, and whether it is ‘one...

Equities were hit hard last month after sentiment soured after a rapid about-turn on a US-China trade deal that was expected to be signed. The US blamed it on a U-turn by the Chinese leadership that worried the deal, as it stood, might be seen as ‘humiliating’....

April found equities in good health, led up by the S&P 500 (+3.93% MoM) and followed by Stoxx (+3.23% MoM) on a combination of trade optimism, 'dovish' central banks' rhetoric and better earnings off Q1FY19 results. Asia ex-Japan (AXJ)/Emerging markets (EM)...

“Ultimately lower rates are only good to a point because, eventually, the fall in rates is not just about the Fed giving equity investors a "green light" to load up on risk, but also indicates concerns around GDP growth.” `– MORGAN STANLEY Look through or come off....