William De Vijlder

Group Chief Economist BNP Paribas

Uncategorized

“Believe me, it will be enough”: one year later

A shorter version of this text has been published in IPE Magazine Tomorrow it will be one year since Mario Draghi made his historical speech in London on 26 July 2012 stating that the ECB would to anything in its power to save the euro adding “believe me, it will be enough”.  These statements were […]

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The S&P500 hits a new all-time high: what lessons can be drawn?

Published in Le Jeudi (Luxembourg) on 3 April 2013  Last week, the S&P 500 at last hit a new all-time high. “At last” because it had already brushed up against this level on several occasions recently and had been expected to break through for some time already. The previous high goes back five and a […]

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The economic outlook

On the importance and limitations of economic data in investment decision making, with a presentation of the current economic outlook.  Click here Download 13 03 04 ENG Economic Outlook presentation Ghent.pdf (4245.7K) to download the presentation made on 4 March 2013 at the University of Ghent in Belgium. William De Vijlder, Chief Investment Officer Strategy and Partners, BNP […]

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Les vecteurs de la grande rotation

  Texte publié dans Le Jeudi (Luxembourg) le 8 mars 2013 et dans Beleggers Belangen (Pays-Bas) le 8 mars 2013.   On parle beaucoup de la ‘grande rotation’ récemment. Stricto sensu ce terme signifie une réallocation des portefeuilles des obligations vers les actions. Au sens plus large il indique un mouvement vers des classes d’actifs […]

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The drivers of the Great Rotation

  Article published in Le Jeudi (Luxembourg) on 8 March 2013 and in Beleggers Belangen (Netherlands) on 8 March 2013.   There has been much talk of a “Great Rotation” recently. Strictly speaking, this means a reallocation of portfolios from bonds into equities. In a broader sense, it means a shift into riskier asset classes. […]

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Interview récente sur les perspectives de marché

  Interview réalisée par Didier Testot sur Web TV www.labourseetlavie.com    Voir lien : http://www.labourseetlavie.com/videos/bourse-et-marches-avis-d-experts/bourse-interview-de-william-de-vijlder-directeur-de-la-strategie-bnp-paribas-investment-partners,1232.html   William De Vijlder, CIO Stratégie et Partenaires, BNP Paribas Investment Partners

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Recent interview on the Market Outlook

  By Didier Testot on Web TV www.labourseetlavie.com   See link: http://www.labourseetlavie.com/videos/bourse-et-marches-avis-d-experts/bourse-interview-de-william-de-vijlder-directeur-de-la-strategie-bnp-paribas-investment-partners,1232.html    William De Vijlder, CIO Strategy and Partners, BNP Paribas Investment Partners

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Quelles conclusions tirer pour 2013 des enseignements de 2012 ?

Texte publié dans L’Echo (Belgique) le 12 janvier 2013 et dans Beleggers Belangen (Pays-Bas) le 14 janvier 2013.   En dépit d’une détérioration généralisée du climat économique dans la zone euro, d’une crainte d’un atterrissage brutal de l’économie chinoise et de la saga sans fin sur la falaise budgétaire américaine, l’année 2012 a été bonne, […]

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The lessons of 2012

Article published in L’Echo (Belgium) on 12 January 2013 and in Beleggers Belangen (Netherlands) on 14 January 2013.   Despite a generalised deterioration in the Eurozone economic climate, the fears of a hard landing for the Chinese economy and the seemingly endless US fiscal cliff saga, 2012 was a good year, even a very good […]

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De obligatiekrach van 2015

Wat volgt is volkomen fictief en is geen voorspelling Het zag er allemaal zo mooi uit. Na jaren van een abnormaal traag herstel na de Grote Recessie van 2008-2009, na jaren van een bijzonder soepel en onconventioneel monetair beleid, nadat de begrotingsklip was omzeild, nadat het meerjarenplan om het begrotingstekort onder controle te krijgen was […]

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The Bond Crash of 2015

What follows is entirely fictitious and does not constitute a forecast It had all looked very promising. After years of abnormally slow recovery from the Great Recession of 2008-2009, after years of ultra-loose and unconventional monetary policies, after deftly circumventing the fiscal cliff and after digesting the long-term plan to bring the budget deficit under […]

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Survoler la falaise budgétaire en parapente

Texte publié dans L’Echo (Belgique) le 1er décembre 2012 et une version abrégée dans le journal Les Echos (France). Dernièrement, « avant de tomber dans les bras de Morphée », j'ai consulté le site web de Bloomberg et y ai lu que Wall Street était à la fête en raison d'échos positifs sur le budget […]

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Zweefvliegen boven de begrotingsafgrond

Tekst gepubliceerd in L’Echo (België) op 1 december 2012 en een kortere versie van deze tekst verscheen eerder in de Franse krant Les Echos. Onlangs checkte ik ’voor het slapen gaan’ de website van Bloomberg en las er het commentaar dat Wall Street was opgeveerd omdat er positieve geluiden in Washington DC waren over de […]

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Gliding above the fiscal cliff

Text published in L’Echo (Belgium) on 1 December 2012 and an abridged version of this text appeared earlier in the French newspaper Les Echos.   Recently, just before turning in for the night, I checked the Bloomberg website where I read that Wall Street had rebounded on the back of positive noises in Washington DC about […]

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On the edge of a cliff, it’s safer to dance than to fight

Text published in Beleggers Belangen (Netherlands) on 9 November 2012. According to Harry Reid, the Democrats’ leader in the US Senate, “it’s better to dance than to fight”. Few people will disagree, especially if the choice between dancing and fighting has to be made on the edge of a cliff, specifically the “fiscal cliff”. What […]

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