Sometimes the scoreline lies. Yesterday’s Serie A clash between Cagliari and Inter ended in a narrow, almost respectable 1-0 defeat for my beloved team. The kind of result that, taken at face value, suggests a tight, competitive affair. Dig into the underlying numbers, however, and a far less flattering picture emerges: 31 shots, 7 on […]
Dans un secteur où l’information est partout, la véritable différence se joue dans l’expertise. À l’occasion des EAM Days Genève organisés par Sphere, Sébastien Demole, Partner et Responsable de la Gestion privée chez DECALIA, participera au panel « Se spécialiser pour se différencier ». Un échange autour d’une conviction forte : la spécialisation n’est pas […]
Last week, in Sticky Rates Despite Slippery Growth, we flagged a puzzle: US data was turning noticeably gentler (weak July payrolls print, in-line and reassuring CPI, and a surprise drop in July retail sales), yet the 10y Treasury yield refused to budge from its highs. If anything, the picture has grown more stubborn since. The […]
Nous avons eu le plaisir de réunir nos clients et partenaires à Genève à l’occasion de notre conférence annuelle « Market Outlook ». Un grand merci à nos trois intervenants, Fabrizio Quirighetti, Quirien Lemey, CFA et Nicolò Miscioscia, pour la richesse de leurs analyses et la pertinence de leurs éclairages. Au plaisir de poursuivre prochainement […]
Three weeks ago, in Beware of Certainties (27 July), we flagged how hard it had become to hold tactical convictions on rates, with investors pricing in two Fed hikes before year-end on the back of persistent inflation concerns with hardly anyone contemplating a hard landing. Since then, the data flow has told a more nuanced […]
The second-quarter US GDP print looked, at first glance, like a disappointment: growth came in at just +1.5% annualized. But headline numbers can be poor storytellers. Strip out the noise, and the US economy is not slowing… It is accelerating where it matters most. US Q2 advanced GDP breakdown: stronger than suggested by the headline […]
Sur les marchés financiers, comme dans la société plus généralement, l’IA est aujourd’hui omniprésente. Ses promesses sont assurément immenses et son impact sur les modèles économiques des entreprises commence déjà à se concrétiser dans de nombreux secteurs. Qu’en est-il des sciences de la vie ? L’IA pourrait-elle accélérer le processus de conception de médicaments, réduisant […]
It’s currently hard to hold tactical convictions on markets, given the many uncertainties related to (1) the gyrations of the US-Iran war, which influence the trajectory of energy prices and, by ripple effect, the stance of monetary policy, and (2) the AI theme dominating headlines, driving dispersion within the IT sector and concentrating risk. In […]
Private credit is booming – and under fire. DECALIA’s private credit lead Reji Vettasseri tells finews why the criticism of the asset class is part exaggeration, part opportunity – and why his third fund should be as big on day one as his first was at its close.
