mgiuliani

mgiuliani

PEP seems to be seen as a kind of bond with some equity upside given by hedging inflation Today PEP trades at a P/E of 26x (earnings yield of 3.8%) and an FCF yield of c. 4%: multiples certainly not expensive, especially in times of interest rates close to zero.

mgiuliani

Severe cold weather in the US continues to disrupt shale oil production and refining activities. However the supply disruptions are no longer providing additional support to oil prices. Even without the boost from supply disruptions in North America, oil markets are by-and-large well supported, with a strong demand recovery outlook amid the receding pandemic and...

mgiuliani

Any weather issues that cause supply shortages over the coming months could continue to have an explosive impact on prices, given the ever-rising addressable market for agricultural products. Aside from the weather, COVID-19 continues to pose unique challenges for farming and the supply chain. Over the coming months, weather conditions may be the most significant...

mgiuliani

The dollar index drops 0.62%, and falls back to 90.44. Symptom of an economic situation that is still very difficult. Commodities continue to rise 1.3% in real terms: we still belive that perhaps there are excessive confidence in the recovery. However, interesting signals come from the bond market. The US10y yeld rises by another 4 bps to 1.21%. This feeds hopes...

mgiuliani

It is like holding a risk-free of default US equity market fund denominated in CHF with a total return of 0.3%. It's an interesting business: print money and buy stocks. As at 31 December 2020, the key asset allocation data for the foreign exchange reserves and the Swiss franc bond investment portfolio were as follows: USD 36%, EUR 40%, JPY 8%, GBP 6%. Their last...

mgiuliani

Pfizer reported fourth-quarter earnings of 42 cents per share, below the 50 cents expected by consensus while revenue was 11.7 billion, slightly above expectations of 11.5 billion. The pharmaceutical group, however, surprised the market by indicating that it is witnessing that sales of the anti-covid vaccine produced together with the German BioNTech will generate...

mgiuliani

The value of the dollar should be determined by markets. cit. Janet Yellen DXY is back trading above the 50 and 200 day moving average: 91 is the level to watch. Nobody wants a weak dollar, simply because the dollar cannot devalue.

mgiuliani

This is not a trading indicator, but verifying indicator.

mgiuliani

Inflation/Deflation: Federal Reserve need to continue control but it is in control? This time the VIX mean reversion? A rise as 40-45 could signal a major market conditions change. There are some probability that the market is over due a 20% correction.

mgiuliani

The stock’s defensive characteristics add to its investment appeal. Core earnings were up 19% during health, and home goods, spurred by pandemic-fueled consumption (especially in North America), continued to drive its recent performance.

mgiuliani

NATO selected Thales to deliver the first defense deployable cloud systems solution in the theater of operations.

mgiuliani

Cisco remains focused on transitioning to a more software-centric business model. Infrastructure Platforms division has been the most impacted by COVID-19, with sales declining 16% year over year in the fiscal first quarter (end 31th July). The company expects demand to rebound as customers adopt a hybrid model of coming into the office as well as working from...

mgiuliani

CFTC data reflected the largest week-to-week turn against the dollar since early-Aug 2020 with the USD’s net short reaching its highest mark on record (in dollar terms) at USD35bn on the back of a USD3.7bn increase in favour of the currencies that we track.

mgiuliani

Record treasury auctions and yields falling again, which brings us back to the legendary October of 2018. But bond yields have been rising for the past several months and perhaps investors should pay attention, especially as we grapple with questions about inflation and the broader economy.So is inflation and economic growth back in play? Powell said an interest...

mgiuliani

*** Hold Negative Beta ***

mgiuliani

The company is very attractive due to its quasi-monopoly position in Europe. It has good trading stability and this allows it to be very attractive to more conservative investors. We also recommend looking into investing directly through the company with its share purchase and dividend reinvestment program. You can find more information here: www.airliquide.com

mgiuliani

JNJ is well positioned for an interesting 2021 as COVID vaccine is a driver of growth and rebound in its Medical Devices Division should propel the stock price to new highs. Unlike the vaccines from Pfizer (PFE) and Moderna (MRNA), Johnson & Jonson's vaccine only calls for one dose in the treatment regimen. This stock offers worthwhile risk-adjusted, total return...

mgiuliani

Honeywell's EPS growth has not matched share price growth over the last three years, and EPS estimates do not support the present high P/E multiple. These shares are best suited as a nearterm play. Long-term appreciation prospects and the yield are now subpar due to the stock’s recent ascent in price. We believe a retracement of prices to more appropriate levels...