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News & Announcement

  • 01 August 2014Kepler Cheuvreux believes that Small & Mid cap research & capital raising is threatened by MiFID IIKepler Cheuvreux believes that draft rules in ESMA’s consultation paper on MiFID II / MiFIR have serious implications for the structure of equity research and the transparency and efficiency of capital markets in Europe. Kepler Cheuvreux fears that there will be negative ramifications for future capital raising by Small & Mid cap companies which will inevitably affect economic growth and jobs inEurope. If current timetables are respected, these rules could come into force in January, 2017.
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Economics & Strategy

  • 15 September 2014The Clock and the CracksInvestors are waiting for the FOMC and the vote in Scotland. Whatever the vote the investment world has discovered a political risk premium that will persist. There is little evidence that the Fed has changed itstimetable for monetary re-entry. However, the investment world has failed to keep up. We argue that this third quarter holds the decisive investment messages of 2014. The significance of the profit-taking in credit is validated by the return of volatility to forex markets. It implies vulnerability in the commodity-emerging space. It is the prelude to profit-taking in equity in Q4. The EZ’s singularity is not the trend in its interest rate markets but the reduction of investment risk attached to corporate credit.