T. Rowe Price Insights on the U.S. Election Regulations would affect the energy sector and automotive industry Presumptive Democratic presidential nominee Joe Biden has an ambitious climate agenda, headlined by pledges to eliminate …
This article studies the impact of carbon risk on stock pricing. To address this, we consider the seminal approach of Görgen et al. (2019), who proposed estimating the carbon financial risk of equities by their carbon beta.
Dutch Pension Industry €1.5 trillion ESG ‘Green Swan’ The €1.5 trillion Dutch pensions industry, the largest in the European Union, and the fourth biggest in the world, is driving forward in adopting ESG (environmental, social and governance) principles to colour
#35 Another week has passed and in this blogpost you can find the best read research on OpinioPro. Next week, a few interesting webinars are held. For example, VanEck hosts a webinar called “Moat investing in uncertain markets” on Wednesday
Provide a macro overview of Family Offices and global trends within the industry Offer key learnings from selected best in class family offices
As fixed income professionals, one question we find ourselves increasingly answering is: How do you make the connection between environmental, social and governance (ESG) considerations and credit? For most people, there is an intuitive connection to be made when it
Smart Beta strategies, such as low volatility, can allow investors to modify their portfolios to better reflect their ongoing return-risk appetite in their strategic allocation. It is possible to build defensiveness into portfolios, while maintaining a degree of upside potential,
The value of investments will fluctuate, which will cause prices to fall as well as rise and you may not get back the original amount you invested. How has my experience differed from others? Do I have a private workspace
Growth stocks have continued to outpace value stocks in the recent market volatility Quality Growth, a subset of the growth universe, has shown relative resilience in this selloff Experienced management teams, robust balance sheets, high return on capital and strong
Persistent positive skew in the distribution of returns across index constituents suggests that a successful active equity management program must include a process to mitigate omission risk – i.e. the opportunity cost of missing out highreturning stocks that buoy average
We believe central bank stimulus has reduced the probability of stronger investment-grade bonds being overwhelmed by further bouts of market volatility. Fresh US interest-rate cuts should also encourage European and Asian investors back to US corporate bonds, as hedging back
Engagement with companies on environmental, social and governance (ESG) characteristics offers a path to greater understanding and confidence about the suitability of an investment. At M&G, we take a systematic and methodical approach to engagement that involves identifying clear objectives
Gold Passes Two Important Sign-Posts The gold bull market passed two important sign-posts in July. The strength of the market is impressive as it blew through $1,800 and the all-time high of $1,921. These prices had been major technical resistance
As we face the prospects of a stop-start economic recovery, could flexible mandates with a ‘go-anywhere’ remit be the optimal approach? The early ‘tenties’ was a golden era for multiasset credit (MAC), with multiple investment funds launching to meet growing
Following a historic plunge in Q1, US high-yield corporate bonds delivered strong gains in Q2. The intervention of governments and central banks provided unprecedented support for global financial markets and bolstered investors’ appetite for risk. The market showed technical strength
De markten hebben zich sterk gehouden dankzij voortdurende stimuleringsmaatregelen, maar Covid19 moet nog worden verslagen. De vrees voor een tweede golf en de toenemende politieke risico's pleiten voor voorzichtigheid van de beleggers.
Weekly commentary The pandemic has sped up key structural trends and triggered substantial market swings, precipitating an urgent need to rethink strategic asset allocations. Among …
Global markets and multi-asset portfolios The rebound in global equities has been quite dramatic, but so too has been the recovery in the market pricing of inflation, especially in the U.S. Since March, 10-year U.S. CPI swaps and Treasury inflation
De outperformance van duurzame beleggingen gedurende de Covid-19 crisis in combinatie met het groeiend aanbod aan duurzaamheidsinformatie en kwantitatieve methoden om deze in portefeuilleconstructie om te zetten, versnellen de vergroening van het Nederlandse pensioenvermogen. En dat kan tot ver over
U.S. Treasury yields fell steadily last week, led by longer maturities, and the yield curve flattened significantly. Wednesday’s 20-year maturity auction overwhelmed investor demand and pushed yields briefly higher, but cautious attitudes prevailed and yields fell …
Eurizon’s Investment View Covid-19 cases are confirmed to be accelerating in the Southern States of the US, in Latin America and in other emerging countries, but are not generating tensions on the markets. This is because the spreading of the
Emerging countries have been in the midst of a crisis that is not of their own making. A great majority of these countries are navigating the crisis fairly well. Others are struggling, and a few have defaulted on their external
Since our last forecast in May we have seen a further easing of lockdowns, particularly in Europe, and a gradual resumption of economic activity. The US has seen a second wave of outbreaks in the southern states and cases in
“It’s an insurance policy in case inflation comes back again as it did in the 1970s. I would say that if that’s a sensible thing to do, then, certainly to have 1 to 2% of your assets in Bitcoin makes
Markets at a glance In the course of the week, the markets remained very uncertain and highly influenced by the evolution of the contagion curve at the global level. On the US curve, the 2-year rate was confirmed …
Uncommon truths Covid-19 has not gone away, shutdowns are being selectively reintroduced and we suspect the recovery becomes more difficult from here. We maintain a diversified model asset allocation. We have been living with Covid-19 for more than six months
The battle between public health officials and COVID-19 continues, and, as we had feared, cases in the United States increased significantly in recent months. However, global economic …
COVID-19 maintains its grip on the global economy …
#34 The holidays are coming to an end and you might have to catch up on research. Hereby a quick overview of the best read research on OpinioPro this last week. A variety of topics is addressed – you can
Investment Outlook The COVID-19 pandemic has led to a tumultuous year for financial markets. Equity markets were crushed in the first quarter with the US stock market suffering the fastest-ever plunge into a bear market ever, losing over a third
Covid-19 has bolstered the argument for automation but several other trends support the long-term investment case. Automation has long been a feature of the manufacturing sector, as companies seek to improve productivity and make high quality goods to a specific
Markets reacted violently as global economies adopted shelter-in-place policies to combat the spread of Covid-19 earlier this year. Corporate bond credit spreads (or risk premiums), driven by heightened uncertainty and revenue pressure, widened dramatically to reflect the increased risk of
In this month's infographic we look at the potential effects of climate change on markets.
These are the dog days of summer in the northern hemisphere, with volumes across world equity markets at their seasonal lull. With August’s thinner-than-usual liquidity, we often observes spikes in volatility when events require that traders return to their desks
Introduction Sustainable investing is under increased scrutiny, as a series of proposed and upcoming regulations start to take effect. The EU Action Plan: Financing Sustainable Growth now requires investment firms doing business in the EU to implement mandated Environmental, Social
There is no doubt that news surrounding COVID-19 and the fascinating volatility in the publicly traded markets due to this global pandemic have captivated nearly everyone’s attention in recent months. The private credit markets, which tend to be less thoroughly
Strategic Perspective. It is difficult to imagine that only three months ago we were writing about riding out the first global recession, record levels of unemployment and declines in earnings not seen during any of our lifetimes. This historic decline
Last week, I laid out five things to watch in the month of August. Over the past seven days, we’ve seen new developments in each one. This week, I offer a quick update to each of those five issues, and
In 2021, the IMF expects 8.2% y-o-y GDP growth for China, 6.0% for India, and 2.4% for Japan; COVID-19 is having a severe short-term impact on Asia, but the long-term impact should be small; Asian stocks look cheap compared to
Evaluating the four P's (Pandemic, Policy, Pricing and Portfolios) The first half of this year has been dominated by the spreading coronavirus pandemic and the policy response to it. The latter has been overwhelming; both monetary and fiscal policy are
Eaton Vance Monthly Market Monitor presents a concise review of economic and asset class data through clear and impactful charts. Providing timely information across a broad array of markets and investment topics, this guide serves as a helpful resource in
Within this report, we present the DWS long term capital market assumptions1 as of the end of June 2020 for major asset classes. Back in April we published a report analyzing the impact of the COVID-19 pandemic on long-term return
Emerging-market (EM) debt rebounded strongly in the second quarter across hard currency sovereign and corporate credit as well as local-currency debt. We believe the market has entered a new phase following the broad-based recovery in the second quarter that will
Factor Correlations (60 days) and Changes in Correlations (vs previous 60 days) Factor Volatilities (last 60 days vs previous 60 days) Exchange Rate and Predicted Risk
Since our Global Market Outlook update in April, shock waves from the COVID-19 crisis have continued to flow through global markets, economies, and societies. As we look forward to the remainder of the year, uncertainty abounds. Equity prices seem thoroughly
Last week’s trading was typical of late summer, with catalysts for the market's moves remaining harder to identify than usual. The downward trend in new coronavirus cases seemed to support sentiment early in the week, although the number of daily
Examining the resiliency of US government securities repo and clearance settlement in Q1 2020 The volatility between late February and early April 2020 was the largest stress event international capital markets have witnessed since the 2007-2009 global financial crisis. Unlike
Global Asset Allocation Year-to-date growth stocks have outperformed value by over 30%, not only in the downturn given their defensive characteristics, but also during the recovery. While growth stocks have …
Counterpoint Global Insights Markets have become more sophisticated over time as the result of the growth in institutional money management, financial innovation, and sharply lower technology costs. Large institutional investors, including …
Allocation views As we enter the typically quieter months of the northern-hemisphere summer, we are starting to adapt to a new way of doing things. It is not quite as it was before, but it …
