Uncommon truths – Global debt review 2019

Uncommon truths – Global debt review 2019

🕔19:02, 30.Jun 2019

The global debt burden again fell slightly in 2018, with notable declines in some European countries. Emerging market (EM) countries have less debt but offer higher real yields. Some so-called “safehavens” have surprising amounts of debt.

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Investors’ Outlook

Investors’ Outlook

🕔19:02, 30.Jun 2019

In rough seas, the ship needs to stay the course Viewpoints – Why now could be the time to buy the dip in euro corporate bonds Equities – Investors flee to safety as the economic giants battle it out Focus

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June 2019: Market news and expert views

June 2019: Market news and expert views

🕔19:02, 30.Jun 2019

The markets at a glance The resurgence of the US-China trade dispute has seen a problem leap back onto the agenda of the capital markets that many thought was as good as solved. Experience tells us that provocative broadsides by

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Central banks to the rescue? Don’t count on it

Central banks to the rescue? Don’t count on it

🕔19:02, 30.Jun 2019

Multi Asset Outlook Regardless of near-term developments on the trade front, we expect growth to slow and think investors should consider more defensive positioning, including:

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Where We Stand: Asset Class Views

Where We Stand: Asset Class Views

🕔17:02, 30.Jun 2019

PRISM: Effective Asset Allocation

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Global Outlook

Global Outlook

🕔17:02, 30.Jun 2019

We are delighted to present the June edition of the Aberdeen Standard Investments (ASI) global outlook. We have a fascinating set of articles this month, covering topical issues for investors and our thoughts about investment challenges over the longer term.

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SEB House View

SEB House View

🕔17:02, 30.Jun 2019

Global equities are in our view discounting a too positive economic scenario We maintain our base case scenario that global growth will accelerate in Q3 due to the fiscal and monetary stimulus launched by China and due to base effects

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Investment Monthly – June 2019

Investment Monthly – June 2019

🕔17:02, 30.Jun 2019

Still reasonable global growth A combination of a reasonable global growth, policy support, and good relative valuations support overweight positions in selected fixed income and equity markets

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Global Asset Allocation: The View From Emea

Global Asset Allocation: The View From Emea

🕔17:02, 30.Jun 2019

Equity markets experienced one of the largest Fed relief rallies in history as global central banks policies have pivoted to a more dovish stance in the face of low inflation and moderating growth. However, equity markets reversed course in May

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Market Insights Q2 2019 – Outlook Remaining Bullish as the cycle goes on

Market Insights Q2 2019 – Outlook Remaining Bullish as the cycle goes on

🕔17:02, 30.Jun 2019

Three months ago, following a brutal period for equities, we noted that investors were likely to be rewarded by “being fearful when others are greedy – and greedy when others are fearful”. Spectacular returns over the first quarter demonstrated the

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Barometer of financial markets, June investment outlook

Barometer of financial markets, June investment outlook

🕔17:02, 30.Jun 2019

Barometer: More pain to come Fresh trade tensions raise concerns about prospects for both the global economy and equity markets. 

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Stick to the Plan

Stick to the Plan

🕔17:02, 30.Jun 2019

Global Macro Trends With all the geopolitical ‘noise’ swirling around these days, there is a growing propensity in the investment community to react quickly to near-term news flows, or even head to the sidelines until there is greater visibility. Our

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Euro area monetary and financial statistics – 2018 quality report

Euro area monetary and financial statistics – 2018 quality report

🕔15:25, 29.Jun 2019

This biennial data quality report is a contribution to the European Central Bank (ECB) Statistics Quality Framework (SQF). It relates to statistics produced by the European System of Central Banks (ESCB) and focuses on the collection, compilation and dissemination of

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Weekly Economic Commentary

Weekly Economic Commentary

🕔07:00, 29.Jun 2019

The Great Divide What we don’t know about investments could fill an encyclopedia, but the current positions of the stock and bond markets are difficult to reconcile. Last week, the S&P 500 closed at a record high level. After a

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China – manufacturing PMI data should stabilize

China – manufacturing PMI data should stabilize

🕔04:02, 29.Jun 2019

Week Ahead Next week (July 1), China's manufacturing PMI data for June will be published. Following the intensification of the trade conflict between the US and China, manufacturing sentiment fell slightly in April and May and industrial production growth dropped

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Argentina at a Crossroads

Argentina at a Crossroads

🕔15:02, 28.Jun 2019

Key opportunities in less cyclical stocks as uncertainty prevails.  The fortunes of Argentinian stocks are being driven by domestic factors, where electoral uncertainty and economic growth at a trough are setting the backdrop for share price performance. The country faces a

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Primed for Growth Bond ETFs and the path to $2 trillion

Primed for Growth Bond ETFs and the path to $2 trillion

🕔15:02, 28.Jun 2019

Bond exchange traded funds (ETFs) are transforming how investors—from individuals to institutions—can access fixed income. Having spent more than 35 years in fixed income, I see bond ETFs as a game-changing technology because of how these products can bring convenience

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Een doorsnee week op de Financiële markten…

Een doorsnee week op de Financiële markten…

🕔14:11, 28.Jun 2019

De duiven zijn weer losgelaten. Centrale banken wereldwijd hinten op komende renteverlagingen. Aan commentaren hierop geen gebrek. Bekijk de volledige lijst hier. Yield curve’s zijn ondertussen in veel landen weer “inverted”. Maar wat betekent dit eigenlijk? We nemen een stap

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Emerging Market Debt Indicator

Emerging Market Debt Indicator

🕔11:02, 28.Jun 2019

Market review The resurgence of trade tensions caused a shift in the backdrop for emerging markets in May, weighing on investors’ appetite for risk. Even so, local bonds ended the month up 0.30%, as measured by the JP Morgan GBI-EM

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Multi-Asset Solutions Weekly Strategy Report

Multi-Asset Solutions Weekly Strategy Report

🕔11:02, 28.Jun 2019

Economists love a good trilemma—a set of three choices or outcomes in which various combinations of them are likely but where, by definition, it’s impossible for all three to occur at the same time. This concept was developed in international

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Knee jerk reaction

Knee jerk reaction

🕔11:02, 28.Jun 2019

Macro Weekly First reaction to re-escalting trade war visible Korea hit by more than the trade war? Central bankers promising (much) more easing

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FOMC June Meeting

FOMC June Meeting

🕔11:02, 28.Jun 2019

The Federal Reserve left policy unchanged The US Federal Reserve (Fed) left the target range for the fed funds rate at 2.25-2.50% at its June meeting; the market had been pricing a 20-25% chance of a rate cut. One of

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Monthly Commodity Insights

Monthly Commodity Insights

🕔11:02, 28.Jun 2019

A more negative base view but still neutral on commodity prices We have downgraded our forecasts for global economic growth and we now expect a global monetary easing cycle to take shape, starting in US before too long. The changes

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The downgrade risks facing passive investment grade bondholders

The downgrade risks facing passive investment grade bondholders

🕔11:02, 28.Jun 2019

Investors are increasingly worried about the growing size of the BBB-rated corporate bond market, the lowest tier of investment grade (IG) debt. The risk is that much of this segment could be downgraded to high yield (HY) when the next

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What’s more Intimidating? Fed Minutes or a President’s Tweet?

What’s more Intimidating? Fed Minutes or a President’s Tweet?

🕔11:02, 28.Jun 2019

Fixed Income Perspectives President Trump threw monkey wrenches into the global financial markets by suddenly escalating trade frictions with China, and then unexpectedly weaponizing tariffs against Mexico. As the hyenas advanced, the lion roared: Fed Chair Jerome Powell said that

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The Great “Hollowing Out” of the U.S. Job Market

The Great “Hollowing Out” of the U.S. Job Market

🕔11:02, 28.Jun 2019

The U.S. labor market has shown sustained strength in the years since the global financial crisis. In assessing this performance, however, it is also important to consider the quality of the jobs that have been created. Have the new jobs

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An ounce of prevention?

An ounce of prevention?

🕔11:02, 28.Jun 2019

Another week of dovish central bank rhetoric suggests that rate cuts are a near certainty in the US and Europe. Will easier monetary policy fulfil its objective of preventing recession, and what will be the implications for currency markets?

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Long-term perspective on markets and economies

Long-term perspective on markets and economies

🕔11:00, 28.Jun 2019

2019 Midyear Outlook: Key takeaways Stocks may have room to run, but be ready for a bumpy ride. Investors should expect more late-cycle volatility. It’s not too early to prepare portfolios for rougher seas ahead.  Yield curve inversion – what

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What happened to my intermediate term bond fund?

What happened to my intermediate term bond fund?

🕔07:50, 28.Jun 2019

Morningstar recently made changes to its Intermediate Term Bond Fund Category. Matt explains the change and what it means for your portfolio. Fund categories play an important role for portfolio builders by helping them know what they own and also

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The macroeconomics of climate risk: How global warming could impact economic growth

The macroeconomics of climate risk: How global warming could impact economic growth

🕔15:06, 27.Jun 2019

In brief Traditional macroeconomic models run the risk of overstating potential global growth by not adequately accounting for natural resource constraints and climate change. Among the potential threats to economic activity: the impact of global warming on a degraded environment

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No more patience?

No more patience?

🕔15:00, 27.Jun 2019

Last month, we argued that it was all going to be about politics from now onwards. And indeed, May and June have not been short of unexpected political developments – and tweets. However, mixed economic data has also raised new

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Central banks fuel markets: illusion vs reality

Central banks fuel markets: illusion vs reality

🕔15:00, 27.Jun 2019

Global Investment Views  The journey from market complacency to awareness of fragilities is in full swing, and the market correction in May is part of that, as is the recent recovery fuelled by dovish Central Banks (CB). Aware investors should

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Does an ESG tilt improve corporate bond portfolio outcomes?

Does an ESG tilt improve corporate bond portfolio outcomes?

🕔09:46, 27.Jun 2019

Large institutional and individual retail investors are increasingly demanding that the stewards of their savings take environmental, social and governance (ESG) factors into account—aiming to make poor performance on ESG fronts impose a higher cost of capital on bad actors.1

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The pros and cons of gold

The pros and cons of gold

🕔07:45, 27.Jun 2019

Chris explains the pros and cons of holding some gold as part of a multi asset portfolio. The recent uptick in geopolitical tensions and concerns over a potential growth slowdown has pushed an ancient metal back into the spotlight:  gold.

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Forex News: US dollar, Japanese yen, Swiss franc

Forex News: US dollar, Japanese yen, Swiss franc

🕔04:00, 27.Jun 2019

Forex News  USD: Uncertain environment speaks for dollar Representatives of both the ECB and the US Fed have recently emphasized the risks to the economy and thus fueled market expectations for monetary easing. However, the Fed's statements had more weight

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Asia’s US dollar bond market: A new asset class

Asia’s US dollar bond market: A new asset class

🕔19:02, 26.Jun 2019

Invesco Fixed Income Investment Insights Key takeaways – The Asian US dollar bond market has grown rapidly in recent years, bolstered by strong Asian demand for bonds of regional issuers. – China's share of the Asian US dollar bond market

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Investing in the Changing Shape of Emerging Markets

Investing in the Changing Shape of Emerging Markets

🕔19:02, 26.Jun 2019

Investment Insights Blue Paper How to discriminate emerging countries? “Fragile” vs. “anti-fragile” countries The essentials Neither the world of the advanced countries, nor the dollar block, nor the Eurozone, nor the emerging (EM) block should be considered a block. The

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Intrigue and Trade

Intrigue and Trade

🕔19:02, 26.Jun 2019

An economic forecast rests on a foundation of assumptions about politics. They are assumptions, not expectations, because politics is not an area where economists have a discernible edge. Recent trade news, the US federal budget, national security, and election results

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China’s Sci-Tech Board: Hope or Hype?

China’s Sci-Tech Board: Hope or Hype?

🕔19:02, 26.Jun 2019

What the new nasdaq-style exchange could mean for investors China will be launching a Nasdaq-style stock market for technology and research-driven companies to list and raise capital. We believe this upcoming science and technology innovation board is of strategic importance

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GEMOLOGIST Banning Huawei: an act of economic war

GEMOLOGIST Banning Huawei: an act of economic war

🕔19:02, 26.Jun 2019

Newsletter, Q2 2019 For more than a year, the US and China have been embroiled in a bitter trade war, which is now centred on Chinese telecommunications company Huawei. The world’s dominant 5G company has been blacklisted by the Trump

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Structural change in emerging markets

Structural change in emerging markets

🕔19:02, 26.Jun 2019

Structural change in emerging markets: 4 key forces to understand KEY POINTS We believe: – Economic development is generating four forces of structural change across emerging markets (EMs): greater inclusiveness, enhanced productivity, improved living standards and better sustainability. – Countries

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Avoiding “diversification decay” in emerging-markets debt

Avoiding “diversification decay” in emerging-markets debt

🕔19:02, 26.Jun 2019

Avoiding “diversification decay” in emerging-markets debt The threat to diversification posed by indexes – The growth of index-based investing in emergingmarkets debt exposes such strategies to increasing levels of systemic, developed-markets risk. – As a result, emerging-markets allocations based on

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European Private Equity Activity 2018

European Private Equity Activity 2018

🕔15:11, 26.Jun 2019

Introduction to Invest Europe Invest Europe is the voice of investors in privately-held companies in Europe.  – Invest Europe is the association representing Europe’s private equity, venture capital and infrastructure sectors, as well as their investors. – Our members take

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GIAM Macro & Market Research – Market Commentary

GIAM Macro & Market Research – Market Commentary

🕔15:00, 26.Jun 2019

Market Commentary – At its June 19-20 meeting, the Bank of Japan (BoJ) policy board left its monetary policy unchanged. It also gave no obvious hint that it would follow the much more dovish Fed or ECB soon. – However,

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Turkey: inflation, exchange rate’s pass-through and monetary policy

Turkey: inflation, exchange rate’s pass-through and monetary policy

🕔15:00, 26.Jun 2019

Thematic paper Despite a huge collapse in activity, the Turkish inflation is still flirting with 20% yoy and the main monetary policy rate is stuck at 24% for 8 months. Since the beginning of the year, fiscal policy has been

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Institutional Investments in Digital Assets

Institutional Investments in Digital Assets

🕔11:02, 26.Jun 2019

BOSTON, May 2, 2019 – Institutional investors are finding appeal in digital assets and many are looking to invest more in digital assets over the next five years, according to new research from Fidelity Investments®. According to the survey, about

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Investment Strategy

Investment Strategy

🕔10:03, 26.Jun 2019

Collected Research Papers  Introduction to the 2019 edition As every year (since 6 years now), the research team of Amundi publishes a book “collected papers”, which represents a selection of the working papers and discussion papers which seem the most

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Making the most of your next dollar

Making the most of your next dollar

🕔07:59, 26.Jun 2019

Save for the future or pay off debt? Deciding how to effectively use your extra income isn’t as simple as you think. We all have bills and expenses like rent and groceries that we must cover each month. That’s just

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CEE Market Insights

CEE Market Insights

🕔04:00, 26.Jun 2019

Market outlook The mood turned more dovish on global markets, but CEE currencies mostly could not benefit from this. The Croatian kuna, one of the exceptions, could remain strong going forward, due to the seasonal effect. The Hungarian forint weakened,

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THE WEEK IN MUNILAND

THE WEEK IN MUNILAND

🕔15:00, 25.Jun 2019

Weekly Market Commentary In response to slower economic growth and falling inflation expectations, the Fed said its outlook for monetary policy has moved from “patient” to “will act to sustain the expansion.” More than half of the committee members expect

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