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Originating from the Netherlands, Schildershoven looks far beyond its European homeland to discover trading ideas worldwide: in Asia, Africa and the Americas.The firm’s analysts are on the lookout for truly productive medium- and short-term international investment opportunities with no bias towards any particular industry or region. In our surveys we avoid meaningless content and trite expressions, which are commonplace in financial publications on the street. Oft-repeated phrases and long-winded texts are time-consuming to read and difficult to work with. There is no value in idle speculations about events, which may or may not have any material or assessable influence on the markets at all. This is why we would not generate facile investment ideas to "buy assets because they are cheap" without being able to justify this transparently. Instead, our opinions are based on the logic that may prove reasonable to our clients the way they would reason the opinions of their own. This confidence helps make timely and responsible decisions when you trade. It is what we call the INTELLIGENCE™
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Life must be ‘gezellig’!

Schildershoven Finance is a Dutch company. Its origins deeply influence its nature, especially in business, how it interacts with its customers and partners, and its view of the world. Ferenc Brewster Managing Director Ferenc Brewster chose to take a look at himself and his fellow countrymen and share what he found with our blog readers….

26.08.2016 INTELLIGENCE™

• The volatility in the Russian market may increase substantially due to increased tensions with NATO. • Latest comments from the Russian policy makers may increase pressure on the oil producers’ securities. • Raspadskaya reported its 1H2016 financial results. The latest data confirmed a difficult situation in the company. • Ausdrill’s new contract with Torro…

25.08.2016 INTELLIGENCE™

• Slowdown in inflation may prompt the Reserve Bank of South Africa to leave the rate unchanged despite the risks associated with high inflation expectations. • Bank Vozrozdenie showed CoR increase in 2Q16 which was offset by a higher NIM, a stronger fee & commission income and lower costs. • The sentiment towards Evraz’s bonds…

24.08.2016 INTELLIGENCE™

• We do not rule out further positive reaction of the Turkish Eurobonds to the central bank’s decision. However, the effect is likely to be softer than the initial reaction. • The Hungarian central bank meeting results should have no effect on the sovereign bonds, as the key rate was left unchanged. However, the regulator…

23.08.2016 INTELLIGENCE™

• The Turkish bond market will likely positively react to a possible rate cut by the central bank. However, in our view, it shouldn’t hurry with policy easing amid the inflation risks. • Actually, we are not sure that problems with hard currency purchase in Azerbaijan are as deep as Bloomberg article says. Anyway, we…

22.08.2016 INTELLIGENCE™

• We assess the Turkey’s rating affirmation by Fitch as positive for the Eurobonds as the country still has IG ratings from the two agencies, and a threat of its asset aggressive sale by international hedge funds has moved away. • TMK’s 2Q2016 results are slightly better than in 1Q; however, YoY dynamics remains negative….

19.08.2016 INTELLIGENCE™

• The Ukrainian president’s rhetoric scares investors, while we do not see any grounds for such pessimistic forecasts. The Russian-Ukrainian raised tensions negatively affect investor mood; however, the reaction is still quite moderate. We believe the conflict shouldn’t escalate in the nearest future, but we will monitor the situation. • We consider that Azerbaijan’s banking…