Alain Bokobza - Société Générale
Last quote by Alain Bokobza
In a goldilocks scenario of low interest rates, abundant liquidity, stable growth and a focus on the 'good' Trump, investors continue to push asset prices, volatility and leverage to historical extremes. Yet, a low volatility carry environment with rather extreme positioning is a dangerous combination, which we recently likened to dancing on the rim of a volcano. Today's current dynamics put the US equity market at a similar risk as the frog.feedback
Nov 20 2017
Alain Bokobza has been quoted 4 times in 3 different articles. On this page, you will find all of Alain Bokobza’s quotes organized by date and topic. Alongside each quote is a link back to the article where the quote was reported, so you can go back to the source for more context if you need it. Topics that Alain Bokobza speaks about are Fed, U.S., and risk, for example. Most recently, Alain Bokobza was quoted in the article The stock market is 'dancing on the rim of a volcano, ' warns investment bank saying, “Passive flows into the US equity market have been high over the past few years as has the momentum trend, exacerbating the S&P 500's bullish trend. The growth in margin debt has not reached exorbitant levels yet, as was the case just before the 2000s and 2007s market crashes. However, we expect to enter a bear equity market environment, and the sell-off may be exacerbated by margin calls being triggered.”.
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Quotes by Alain Bokobza
Nov 20 2017
Passive flows into the US equity market have been high over the past few years as has the momentum trend, exacerbating the S&P 500's bullish trend. The growth in margin debt has not reached exorbitant levels yet, as was the case just before the 2000s and 2007s market crashes. However, we expect to enter a bear equity market environment, and the sell-off may be exacerbated by margin calls being triggered.feedback
Jul 21 2017
We find increasing evidence that the de-equitisation process, by which the weight of equity holdings in portfolios diminishes over time and is substituted by debt, has finally come to an end. The main driver for re-equitisation could be gradually rising bond yields (Make reflation great again). Rising bond yields imply losses on existing bond portfolios (underweight bonds) and, when bond yields move higher, the risk budget of investors tends to increase (overweight equity).feedback
Jul 11 2016
We are still at risk in the coming month that we are going to continue to reprice the Fed for 2017, which is as much a boost to global risk assets on one side and, on the other side, it prevents the U.S. dollar from doing what the consensus is expecting, which is to rise.feedback
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