Archive

Buy Emerging Market Local Debt, Or Focus On Bad Loans?

“…there are reasons investors should be positive on emerging market debt: emerging markets have issued roughly $65 million in euro-denominated bonds so far this year, and PGM Global writes that emerging market debt is “set for a record year.”

Investors pile into Brazilian equities over bets on imminent regime change

Financial Post, March 18, 2016 “Investors are betting on regime change,” said Alex Bellefleur, head of global macro strategy at Montreal-based PGM Global. “Dilma’s policies have been a complete disaster for Brazil, so investors are really looking for her to go away, and have a new government with better policies to curb inflation, make the […]

Canada misses out on new auto assembly plants

Globe and Mail, February 16, 2016 Automotive credit is tightening and is expected to hit sales in the United States analysts at Montreal-based PGM Global Inc. said on Monday, echoing comments made by U.S. analysts in recent weeks. “Mexico and Canada likely will also feel some consequences from a peak in the U.S. auto cycle,” […]

Will Cheap Oil Bust US Banks?

Barron’s, January 28, 2016 With the high-yield market signaling trouble ahead for many oil companies, the market has started to become worried that rising defaults in the oil patch will hit U.S. banks. The folks at PGM Global think that’s unlikely: Aside from HY debt holders, many see U.S. banks as another potential casualty of […]

India’s Consumer: An Emerging Market Bright Spot?

Barron’s, January 14, 2016 If you have to be invested emerging markets, a bet on the Indian consumer is a way to find value in an otherwise unattractive asset class, according to PGM Global. Though “things could get worse before they start getting better,” India’s economic growth of about 7.5% year over year is likely […]

Tired of corrections and flash crashes? 2016 will be year of stable growth for equities, analysts say

Financial Post, November 20, 2015 Investors wanting stable growth should also be willing to look away from the traditional plays such as healthcare and grocers. Strategists at PGM Global said that meat producers offer a good combination of stability and growth next year. “It’s not particularly surprising that meat consumption tends to rise almost in […]

Don’t be a blockhead: Time to tear down those trendy investment plays BRIC by BRIC

National Post, November 13, 2015 Alex Bellefleur, head of global macro strategy and research at PGM Global, said that one benefit of the resulting selloff was that it helped paint a clearer picture of which countries have better fundamentals. Bellefleur and the team at PGM Global say that in the coming year, one of the […]

Fed Rate Outlook Brings Call for ‘Regime Shift’ to Value Stocks

Bloomberg, November 10, 2015 To be sure, others have recommended staying with growth stocks. Value shares may need a U.S. recession to regain market leadership, PGM Global Inc. wrote in a Nov. 3 report. “It is hard to find a catalyst for value,” according to strategists led by Alex Bellefleur, head of global macro strategy […]