A bizarre year of win-lose outcomes in Asia Pacific ex Japan

A bizarre year of win-lose outcomes in Asia Pacific ex Japan

🕔22:36, 31.Dec 2020

If I were to sum up Asia ex Japan equity markets in 2020, it would be the pain of negative headwinds followed by the triumph of human ingenuity and determination in rising above them. This perhaps seems too optimistic a

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Swiss Small and Mid-Cap Equities – Consistent Value Creation

Swiss Small and Mid-Cap Equities – Consistent Value Creation

🕔07:33, 31.Dec 2020

White Paper As in previous crises, the safe-haven status of the Swiss franc and an inflation rate of only 0.2% (as of the end of 2019) have helped Switzerland weather the storm in the past few months. The country has

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China: Don’t fret over an increase in corporate bond defaults

China: Don’t fret over an increase in corporate bond defaults

🕔14:39, 30.Dec 2020

Corporate bond defaults were once considered a rare occurrence in China. This is because borrowers have historically relied heavily on financial support from stateowned banks in times of trouble. However, things have started to change in the world’s second largest

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2021: gotta have faith – in low discount rates

2021: gotta have faith – in low discount rates

🕔12:49, 30.Dec 2020

Both financial markets, and us, have come a long way since the dark days of spring to the (unseasonally) brighter days of winter. Back in March, as the huge and synchronised shock to economic activity from Covid-191 was met with

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European equities: the peak of pessimism is behind us

European equities: the peak of pessimism is behind us

🕔10:56, 30.Dec 2020

There are reasons for optimism in 2021. Forget a U-shaped recovery; the letter we look for in 2021 is V, which stands for vaccine. Our baseline scenario is that vaccines roll out across Europe in early 2021, allowing business and

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Seeking out good alpha opportunities in emerging market debt

Seeking out good alpha opportunities in emerging market debt

🕔09:43, 30.Dec 2020

The legacy of Covid-19 in emerging markets (EMs) may take some time to become clear. Having lagged advanced economies’ initial surge in cases in March and April, lower income countries experienced highly concerning case growth at the end of the

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Expert Investor Participant Report January 2021

Expert Investor Participant Report January 2021

🕔07:54, 30.Dec 2020

This report shows the forward-looking investment intentions of fund selectors, asset allocators and portfolio constructors in Switzerland. In all graphs below, the y-axes (typically marked ‘net buyers’) shows the % of respondents who are looking to buy more of the

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Senate Runoffs Put Georgia on Investors’ Minds

Senate Runoffs Put Georgia on Investors’ Minds

🕔11:15, 29.Dec 2020

The results of the two U.S. Senate runoff elections in Georgia on Jan. 5 could determine the size and scope of fiscal stimulus to address economic strains caused by the coronavirus pandemic. A shift in the Senate’s partisan majority could

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2021 Outlook: High Yield And The Road To Recovery

2021 Outlook: High Yield And The Road To Recovery

🕔09:22, 29.Dec 2020

Credit markets weathered a turbulent year in 2020 as the Covid-19 outbreak resulted in economic shutdowns, plummeting growth and volatile markets. Against this backdrop, fundamentals deteriorated, downgrades skyrocketed and default activity increased. After one of the quickest bear markets in

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Treasury yields rise on positive investor sentiment

Treasury yields rise on positive investor sentiment

🕔07:32, 29.Dec 2020

U.S. Treasury yields closed higher last week, led by longer maturities. Investors were encouraged by positive news related to Brexit, coronavirus vaccines and U.S. fiscal relief efforts. The Federal Reserve (Fed) remained dovish at its December meeting, maintaining asset purchases

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Big Data for a Big Year

Big Data for a Big Year

🕔15:48, 28.Dec 2020

The pandemic has been top of mind for everyone throughout the year, especially during its most uncertain initial stages in the spring. For me, the sad situation was illustrated by one unforgettable sight. I have the fortune of living near

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Vanguard’s global outlook for 2021

Vanguard’s global outlook for 2021

🕔14:38, 28.Dec 2020

While the global economy continues to recover as we head into 2021, the battle between the virus and humanity’s efforts to stanch it continues. Our outlook for the global economy hinges critically on health outcomes. The recovery’s path is likely

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Europese aandelen in 2021 Sterke steun

Europese aandelen in 2021 Sterke steun

🕔14:36, 28.Dec 2020

Aandelenmarkten lopen vooruit op het economisch herstel in Europa, al is de omvang nog onduidelijk. Beleggers zullen in de eerste helft van 2021 nog geconfronteerd worden met extra volatiliteit, ondanks het positieve nieuws over coronavaccins. Wél zijn er duidelijke pluspunten

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#EmergingMarketDebt – Research Highlights

#EmergingMarketDebt – Research Highlights

🕔11:28, 28.Dec 2020

#EmergingMarketDebt In December of 2020, Capital Group published an outlook for emerging market debt. In this paper the global macro environment and the development of the pandemic are pointed to as the drivers for the returns of emerging market debt

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We take a step back and focus for the last Macrocast of 2020 on the new Big Government” zeitgeist

We take a step back and focus for the last Macrocast of 2020 on the new Big Government” zeitgeist

🕔09:54, 28.Dec 2020

As 2020 is drawing to a close we want to take a step back and discuss the return of “big government” which we think may be a lasting legacy of the ongoing crisis, even if it did not start with

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The NHG guarantee under Solvency II

The NHG guarantee under Solvency II

🕔20:51, 26.Dec 2020

The National Mortgage Guarantee (NHG) has been a well-known mortgage type in the Netherlands for many years. The Stichting Waarborgfonds Eigen Woningen (WEW), which is 100% guaranteed by the Dutch government, hereby provides a guarantee to the lender. This guarantee

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Secular Forces Are Carving New Paths for Active Investing

Secular Forces Are Carving New Paths for Active Investing

🕔20:23, 25.Dec 2020

The world has taken a new turn in 2020, and the range of potential outcomes is almost impossible to quantify. We believe we are at the cusp of a new era because of the profound impact of the acceleration of

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Long-term perspective on markets and economies

Long-term perspective on markets and economies

🕔12:54, 24.Dec 2020

Long-term perspective on markets and economies 2021 Outlook: Turning points on the road to recovery. We may one day look back at 2021 as a major turning point for the global economy, public health, politics and how we live and

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Solutions in 2021: adapting to a new normal

Solutions in 2021: adapting to a new normal

🕔11:05, 24.Dec 2020

What kind of customised solutions are our institutional and sub-advisory clients looking for in today’s yield-starved, default-conscious and ageing world? With developed world government bond yields as low as ever before seen, the traditional diversification into fixed income duration and

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Update on global citizenship 2020

Update on global citizenship 2020

🕔09:14, 24.Dec 2020

At the outset of 2020, none of us could have anticipated just how timely the topic of citizenship would be. We are now living in a world in which social distancing has become the norm as we try to halt

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Market Optimism May Be Justified—But I Urge Caution

Market Optimism May Be Justified—But I Urge Caution

🕔08:05, 24.Dec 2020

While the U.S. elections grind toward the finish line, risk markets—after a bumpy ride—are hovering close to all‑time highs. In light of surprisingly close elections that will likely lead to a split Congress, legislative gridlock, and inadequate fiscal support, this

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A brighter year ahead

A brighter year ahead

🕔14:30, 23.Dec 2020

The themes we discuss at our Annual Investment Symposium guide our research process. Over a longer-term horizon, we believe global stocks have greater performance potential than global bonds, supported by sustained growth and moderate inflation. With government bond term premia

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Repositioning Portfolios for a Brave New World

Repositioning Portfolios for a Brave New World

🕔13:26, 23.Dec 2020

Monthly Investment Outlook – December Key points Downside risks weigh on Q4 growth in several countries due to rising contagion and pressure on hospitals; European activity should contract in Q4, and a parallel slowdown is expected in the US, while

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2021 Global Market Outlook – managing to the other side

2021 Global Market Outlook – managing to the other side

🕔11:29, 23.Dec 2020

The 2020 global pandemic tested the ability of companies and investors to manage their way through an unforeseen and dangerous period. However, T. Rowe Price investment leaders believe the other side of that journey could come into view in 2021 if new

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Pensioenakkoord uitgelegd Deel 3: Constructie van de portefeuille

Pensioenakkoord uitgelegd Deel 3: Constructie van de portefeuille

🕔07:43, 23.Dec 2020

Deze zomer hebben het kabinet en sociale partners overeenstemming bereikt over een vergaande herziening van het pensioenstelsel. Dit pensioenakkoord heeft grote gevolgen voor hoe pensioen wordt opgebouwd en wordt belegd. In deze serie bespreken we het pensioenakkoord en de gevolgen

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Us Equities: Two Major Themes In A Stabilising Economy

Us Equities: Two Major Themes In A Stabilising Economy

🕔14:53, 22.Dec 2020

With the prospect of early access to effective vaccines getting steadily stronger, the major question for investors in US equity markets is how to position their portfolios for an economy returning to normal after the Covid-19 shock?  This question begs

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Global Asset Allocation: The View From Emea

Global Asset Allocation: The View From Emea

🕔13:00, 22.Dec 2020

December 2020 Digging for Value Promising news on COVID-19 vaccines has triggered optimism for a return to normal next year, buoying deeply cyclical segments of the market that have been the hardest hit by shutdowns. November saw a strong rebound

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The Future of the US-China Relationship & Its Impact on China’s Internet Sector

The Future of the US-China Relationship & Its Impact on China’s Internet Sector

🕔11:02, 22.Dec 2020

With a new US administration on the horizon, we spoke with David Metzner from the independent research firm ACG Analytics about what to expect from the new administration when it comes to China and Chinese companies. While a broad-scale pullback

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Highlights of the past weeks: The end of a chapter!

Highlights of the past weeks: The end of a chapter!

🕔10:59, 22.Dec 2020

The end of a chapter! Interested in learning what caught the eye of our readers in the past few weeks? Then look no further because this article will discuss the four best read articles of our site. As we are

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Fixed income: security selection a key driver of outperformance

Fixed income: security selection a key driver of outperformance

🕔09:54, 22.Dec 2020

We believe the Fed’s accommodative stance will persist for many years, which may prevent yields from rising materially. However, this doesn’t ensure that they will fall, and the risk appears asymmetric given that low yields fail to protect against even

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Don’t Wait For Another Wave – Why Covid-Sector Credit Opportunities Remain Attractive Today

Don’t Wait For Another Wave – Why Covid-Sector Credit Opportunities Remain Attractive Today

🕔08:04, 22.Dec 2020

Fantastic vaccine news and a post-election relief rally has left many credit investors asking, “Is there any opportunity left from here?” We believe the answer is yes. The ink spilled in the marketplace about record low yields due to record

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2021 Outlook: Emerging Markets And The Normalization Of Growth

2021 Outlook: Emerging Markets And The Normalization Of Growth

🕔14:30, 21.Dec 2020

2020 will been known as the year of the coronavirus as the impact was far reaching and felt by every country in the world. Emerging markets were not immune, but 2020 marked a turning point for emerging markets debt markets

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Style rotation towards value is a temporary phenomenon

Style rotation towards value is a temporary phenomenon

🕔11:29, 21.Dec 2020

At the end of the global financial crisis in 2009 we saw a sugar rush within markets, specifically for a couple of quarters from March that year where economy-sensitive stocks performed very well. This is being mimicked somewhat today. When

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2021 Outlook: Responsible Investing

2021 Outlook: Responsible Investing

🕔10:59, 21.Dec 2020

2020 was an unprecedented year as the coronavirus crisis rattled markets and upended industries. Despite the volatility and economic weakness, investor demand for ESG-focused products continued to accelerate. Further, the downturn served as an opportunity for many investors to put

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2020 Review & 2021 Outlook

2020 Review & 2021 Outlook

🕔15:06, 18.Dec 2020

The Covid-19 pandemic brought about a synchronised global recession of historic proportions. On the other hand, unprecedented fiscal support measures cushioned the impact of the health crisis, while monetary policies also played a major role through swift and, in some

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How will Central Banks impact the equi ty markets in the post Covid world?

How will Central Banks impact the equi ty markets in the post Covid world?

🕔12:53, 18.Dec 2020

Interest rates are at an all-time low, and even if inflation eventually picks up, it could take some time. Central banks, the first pillar of the investment cycle, are adjusting and are resolutely accompanying governments in this final battle against

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2021 Outlook: Distressed Opportunities Beneath Calm Waters

2021 Outlook: Distressed Opportunities Beneath Calm Waters

🕔11:37, 18.Dec 2020

For distressed investors operating in a relatively benign low-rate, low-default environment over the past decade, the opportunity set in the aftermath of the spring-time market sell-off was immediate and compelling. Plenty of dry powder was put to work and incrementally

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Uncovering Opportunities in Noninvestment‑Grade Credit

Uncovering Opportunities in Noninvestment‑Grade Credit

🕔09:50, 18.Dec 2020

T. Rowe Price Insights on Global Fixed Income Credit analysis can reveal value in bank loans, high yield bonds High yield bonds and bank loans (or leveraged loans) represent two forms of noninvestment‑grade credit exposure. Both sectors have various strengths and risks

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Thoughts for 2021

Thoughts for 2021

🕔07:56, 18.Dec 2020

Insight Investment – November 2020 We believe the economic shock caused by the coronavirus crisis, and the policy response it triggered, are of sufficient magnitude to warrant a reassessment of the investment landscape – and that frames our outlook for

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US CRE Market Insights

US CRE Market Insights

🕔14:29, 17.Dec 2020

Big Picture Update A global pandemic, recession, and regime change in the US are some of the issues facing commercial real estate (CRE) investors. These headwinds have already presented investors with unique challenges that have impacted property performance with a

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No alternative to equities

No alternative to equities

🕔13:25, 17.Dec 2020

European Gazette | Autumn 2020 While political risk, a second Covid-19 wave, lower economic activity and suppressed inflation might trigger a short-term sell-off, in the medium term a high equity risk premium and low rates will support equities After a

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Emerging market debt outlook for 2021

Emerging market debt outlook for 2021

🕔11:26, 17.Dec 2020

Investment Insights  2020 was a volatile year for emerging markets (EM). EM debt faced underperformance during the first half of the year, a sharp retracement and outperformance relative to developed markets during the early summer, and subsequent bouts of intermittent

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Seizing the new reality

Seizing the new reality

🕔09:39, 17.Dec 2020

Outlook 2021  Fidelity International’s outlook for the global economy, multi asset, equities, fixed income and real estate If you are reading this, then you’ve lived through one of the most volatile periods in market history. The year to come may

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How America Invests – 2020

How America Invests – 2020

🕔07:46, 17.Dec 2020

A look at the personal investing behavior of Vanguard’s 5 million retail households Vanguard investors have a long-term risk outlook The typical Vanguard household holds a long-term, risk-taking portfolio that's both diversified and balanced. The average portfolio consists of 63%

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As the Pandemic Surges, Global Economies Will Be Tested Anew

As the Pandemic Surges, Global Economies Will Be Tested Anew

🕔14:51, 16.Dec 2020

2021 Global Market Outlook COVID-19 has severely tested the global economy and markets in 2020. Aided by unprecedented monetary and fiscal stimulus, markets responded with surprising resilience. Equity valuations are critically dependent on whether a combination of treatments and vaccines

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Asia ex‑Japan: Constructive Outlook for Equities in 2021

Asia ex‑Japan: Constructive Outlook for Equities in 2021

🕔13:02, 16.Dec 2020

T. Rowe Price Insights on International Equities High‑quality growth businesses on reasonable multiples.  Our views remain constructive on the medium- to longer-term outlook for Asia ex‑Japan equities. Even as global growth may be slower to recover than earlier hoped for,

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Emerging Markets Charts & Views

Emerging Markets Charts & Views

🕔11:06, 16.Dec 2020

2021 Outlook and Beyond  The US election outcome and the hopes that the Covid-19 vaccine will be a tangible reality by the end of the year or the beginning of 2021 bode well for a worldwide economic recovery. China is

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Managing to the Other Side

Managing to the Other Side

🕔09:15, 16.Dec 2020

2021 Global Market Oultook New vaccines could accelerate recovery, boost cyclical sectors The 2020 global pandemic tested the ability of companies and investors to manage their way through an unforeseen and dangerous period. However, T. Rowe Price investment leaders believe the other side

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The Weekly Brief

The Weekly Brief

🕔08:07, 16.Dec 2020

Monetary and fiscal coordination has supported economic activity in 2020. As we discuss in our Investment Outlook 2021: Bridge over troubled waters, governments and central banks have proved pivotal in helping economies to bridge the gap caused by the virus.

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Global Perspectives 2021

Global Perspectives 2021

🕔14:30, 15.Dec 2020

Markets | December 2020  Seek income in credit products. The US Federal Reserve’s aggressive response to the coronavirus pandemic has driven yields on safe-haven debt to near zero, leaving “low-risk” portfolios increasingly susceptible to interest rate-driven price volatility. We believe

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