Weekly Market Outlook May 15, 2016

Weekly Market Outlook:
Pfäffikon SZ, Switzerland – Slowly, the Bears seem to get more control over the market. Our observations are unchanged and have been confirmed in several macro data. Due to stagnation in wage growth, the purchasing power is significantly lagging behind the past eight years. Last week, this picture was confirmed by several extremely disappointing business figures in the retail sector. An increasing consumer confidence, therefore, is telling us not so much because there is simply no purchasing power.

Next week we will focus, in particular, on the U.S. CPI report for April that will be published coming Tuesday.


This material is communicated on May 15, 2016 by Thirteen Asset Management AG, Rietbrunnen 20, 8808 Pfäffikon SZ, Switzerland. This material is for information purposes only and is not intended to be a solicitation or invitation to invest. Any organizations or products described in this material are mentioned for reference purposes only. This material is intended only for investment professionals and professional clients and must not be relied upon by any other person. It is proprietary information of Thirteen Asset Management AG and may not be reproduced or otherwise disseminated in whole or in part without prior consent from Thirteen Asset Management AG. Alternative investments can involve significant risks and the value of an investment may go down as well as up. There is no guarantee of trading performance and past or projected performance is not a reliable indicator of future performance. We recommend to consult your bank, investment and/of tax adviser.