KTS Investment Horizon

Global stock markets have experienced one of the longest bull markets since the end of the housing crisis. The noteworthy trend was tightly accompanied with the unprecedented ultra-expansionary monetary policy globally. The Fed, however, has diverged its monetary policy from the rest of the world in December 2015. Coupled with the supply-driven collapse in oil prices and the concerns about a hard landing in China, led to a sell off in the stock markets at the beginning of 2016. Investors’ sentiment remains uncertain, and so is the volatility. Until today, with the exception of the Fed, we have seen little signs of success of their policy; the outcome of negative interest rates could have even more of an adverse outcome than...

Read More