Pavilion in the News
Best Execution and the “Electronification” of High Touch Trading
Traders Magazine Online News, November 26, 2018
To be successful at delivering consistently above average, low standard deviation, trading performance to clients, sales traders need to bring automated “low touch” tools and “high touch” market experience together when navigating through the latest market-moving news announcements, sentiment changes and directional trend shifts.
Texas Municipal hires 2 for private equity, adds transition managers
Pensions & Investments, October 4, 2018
Separately, the board approved hiring Northern Trust Corp. and Pavilion Global Markets and rehiring BlackRock (BLK), Citigroup and Russell Investments as transition managers. The retirement system began a shortlist search in March.
The 3 Biggest Risks in Global Investing and How to Avoid Them
Barron’s, August 3, 2018
Strategists at Pavilion Global Markets expect China to shift its focus from tackling debt to stimulating the economy, stemming the currency decline and boosting stocks. That should help consumer-oriented businesses such as Tsingtao Brewery (168.HongKong), which gets 98% of its revenue from Chinese consumers and is flush with cash.
Cash is better than U.S. stocks for the first time in a decade — and that has some people worried
Financial Post, July 23, 2018
“This is reminiscent of the market action in the late 1990s,” Pavilion Global Markets strategists said in a recent report. During that period, interest rates were rising and the yield curve was flattening — eventually becoming inverted — and high-momentum stocks such as tech were outperforming in a big way.
“Pavilion argues that the lackluster earnings outlook for the sector is part of the reason investors have shied away from consumer staples; profits looked “particularly dim” when compared with the market as a whole.”
Morning Movers: Macy’s Jumps as Earnings Shine, 3M Slumps
Barron’s, May 16, 2018
The dollar may be just as important. It’s also been surging, and that could have an impact on global growth. “If a continued sharp rise in interest rates is accompanied by a stronger dollar, then we could reach the point of a U.S. and global slowdown much sooner,” writes strategists at Pavilion Global Markets.
The Kings of Commodities Have One Thing in Common: AIG
Institutional investor, May 8, 2018
Raw materials should benefit from a reflationary wind blowing across developing markets as part of a synchronized global recovery, according to Alex Bellefleur, head of global macro research at Pavilion Financial Corp. in Montreal.
Energy: Looks Like a Comeback
Barron’s, April 14, 2018
Stable—or even peaking—oil prices don’t mean the end of the energy-sector rally, however. U.S. oil producers have already started to lock in higher oil prices using futures contracts, explain Pavilion Global Markets strategists led by Alex Bellefleur.
Intraday Update: When the Dow Drops 250 Points, Everything Looks Like Trouble
Barron’s, March 14, 2018
Chinese companies’ balance sheets are showing price pressure, write Pavilion Global Markets strategists in a morning note. Even though sales growth has rebounded for industrial companies, profit margins have been narrowing.
After the Bell: Dow Gains 93 Points as Tariffs Cheer Market
Barron’s, March 8, 2018
Sentiment about the drought continues to deteriorate, and some of that pessimism is already beginning to leak into the agribusiness sector, weighing on agricultural machinery and fertilizer stocks. Weaker wheat production forecasts from the U.S. Department of Agriculture won’t help, warns Pavilion.
U.S. dollar likely to weaken as deficit rises, political uncertainty persists
Financial Post, February 23, 2018
“This deleveraging removes demand for dollars, particularly as U.S. rates rise,” Pavilion said. “While we do think there could be short-lived bouts of dollar strength, we see broader dollar weakness continuing.”
What fuelled the stock market roll coaster?
The National, February 17, 2018
“Companies have buyback policies that get reconsidered every quarter, so if you told shareholders that you’re going to buy back stock, and then a market blow-up that had no impact on your fundamentals made the price fall more than expected, maybe it’s not a bad thing to step in.”
Should investors expect another stock market selloff?
Financial Post, February 13, 2018
Pavilion Global Markets noted that the large “short-volatility” trade still exists in many parts of the world and in many asset classes. However, the outright shorting of VIX futures was turned on its head last week, forcing speculators in the VIX to cover their shorts and move to a net long position.
10 things you need to know before the opening bell (SPY, SPX, QQQ, DIA, SNAP, TSLA)
Business Insider, February 8, 2018
The idea that this was a rate-induced sell-off is incorrect, because “we would have seen the interest rate-sensitive sectors underperform broader equity indices severely, which was not the case,” Pavilion Global Markets wrote.
One of the biggest narratives behind why the stock market just went haywire is wrong
Business Insider, February 7, 2018
Risk-parity funds, which invest in a combination of stocks and bonds based on factors including volatility, may have contributed to the sell-off as stock fea increased, Pavilion said.
Vietnam Economic Times, January 1, 2018
Analysts at the Montreal-based Pavilion Financial Corp., a diversified global investment services firm, argue that Vietnam’s stock market is the best way to play the country’s growth story, noting that Vietnamese stocks had outperformed regional peers and other export-oriented economies up to 2016.