Podcast – Episode #1 The various countries that make up emerging markets have shown incredibly rapid and dynamic development. In this first episode we look ahead to the next decade with Capital Group Investment Specialist Valeria Vine: where are emerging
Three reasons why now may be the time to rethink large-cap passive allocations. U.S. large-cap markets delivered another impressive year of returns in 2021. And once again the vast bulk of gains were driven by a handful of mega-cap stocks.
In de zomer van 2020 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
In this paper, we will discuss the outlook for emerging market (EM) fixed income in 2022 and the key themes investors are likely to focus on at the beginning of this year. A waning global growth momentum, rising inflation and
Outlook 2022: As we head into a new year, it’s clear in hindsight that the market downturn of 2020 was short-lived and entirely related to the COVID-19 outbreak. In my view, that means the powerful upswing in equity prices since
We examine eight weighting schemes frequently used in the construction of systematic equity strategies. Through the lens of both returns- and holdings-based analysis, we highlight the importance of having a close link between security weights and market prices. Ignoring prices,
In this paper, we intend to gain an understanding of the drivers of stock convexity, also known as gamma. First, using a bottom-up – firm-level – approach, we showcase that stock fundamentals, in particular metrics related to value (captured by
Equity markets are off to their worst start of the year since 2009 as they continue to price in the Federal Reserve’s hawkish pivot and the probability of over five rate hikes this year. The drawdown in equities has been
Climate and other ESG issues are hot topics. In October 2020, The Children’s Investment Fund Foundation called on investors, advisers and regulators to ensure companies put a climate transition action plan to an annual shareholder vote, to make this the
THE DATA-POWERED INSURER Insurance companies have long relied on data to price risk and adjudicate claims. In an increasingly dynamic (and volatile) market environment, the importance of data has only increased. The frequency and severity of extreme events have escalated,
Sinds 2016 hebben deelnemers in een (premie)pensioenregeling de mogelijkheid om hun pensioenkapitaal ook na de pensioendatum te beleggen. Dit kan via de aankoop van een variabel pensioen. Hiermee krijgt een deelnemer naar verwachting een hogere uitkering, maar neemt ook het
State Street Digital Digest – January 2022 To help us understand the current industry state-of-play around all things digital, State Street recently launched a survey of global institutional investors in partnership with Oxford Economics. The findings, equal parts surprising and
Balancing pricing and rental growth in European logistics Core industrial property prices have never been as elevated as they are now, so selecting assets for which occupiers will pay higher rents is increasingly crucial to investment performance, argues UBS Asset
IN DEZE UPDATE Marktbeeld Spreads bedrijfsobligaties liepen met 11 basispunten op Inflatie mogelijk minder tijdelijk Black Friday: Omikron ECB: PEPP eindigt eind maart 2022 Outperformance van cyclische consumentenbedrijven, vastgoed negatieve uitzondering Semistaat en gedekte obligaties bewogen mee met swaps
As the U.S. economy climbs out of the pandemic doldrums, U.S. housing lays a solid foundation for sustainable value creation While the U.S. economy spent much of 2021 battling its way out of the pandemic-induced doldrums, the U.S. housing market
Investors remain nervous about inflation and hawkish central banks, but it’s been the tensions over Ukraine that have unsettled them most over the past week. This has been reflected in oil hitting new highs and another leg down for global
Equity markets started 2022 like someone running to catch a train. Investor sentiment has since turned ever more hawkish on interest rates as inflation showed no signs of moderating. The technology sector has been caught at the sharp end of
The S&P 500 is on track for one of its worst January performances looking back to 1929 having fallen nearly 9% at its low point for the month. Looking back to 1929, there have only been ten previous episodes of
I'm often asked to give my perspective on the current environment. Before I do, I'd like to take a step back. During most of my career, you could take credit or interest rate risk and do relatively well. This last
Global equities tumbled over January, largely driven by increasingly hawkish central bank expectations in response to inflationary pressures. Rising geopolitical risks also knocked risk assets, sparked by fears that Russia was about to invade Ukraine. Global bonds also sold off,
US inflation in January surprised once again to the upside, with the headline and core figures jumping 7.5% and 6% year-over-year, respectively. However, we note that, although these prints are the largest since 1982 and, thus, do worry market participants,
On February 4, Beijing hosted the opening ceremony for the 2022 Winter Olympics. Global sporting events like this are usually a bonanza for the host country, attracting billions in investment and generating windfall revenues from tourists. However, this time round
In this paper, we will discuss the outlook for emerging market (EM) fixed income in 2022 and the key themes investors are likely to focus on at the beginning of this year. A waning global growth momentum, rising inflation and
Against the spectre of soaring energy prices, labour shortages and supply chain constraints, a question that has arisen in the US has landed firmly on European shores: will inflation continue to rise and how persistent will it be? The prevailing
We zijn gewend om omhoog te kijken als er een groot, wereldwijd milieuprobleem opgelost moet worden zoals het gat in de ozonlaag of een hoge CO2-uitstoot. Maar ook de grond onder onze voeten speelt een doorslaggevende rol voor de toekomst
January’s market tantrum: Last month played out like Newton’s third law of physics with a twist: for every feared Fed action, there was an equal and opposite overreaction. The 10-year Treasury yield spiked 27 bps, and U.S. large cap growth
EMEA-Listed ETF Flash Flows ETFs posted $4.5bn of net inflows last week. Flows were largely driven by Equity, which captured a massive $5.9bn, while Commodity took …
Lessons From FIRE In Figure 1, we show a 150-year history of US inflation, overlaid with these new regimes. Inflation – or FIRE as we term it – was the original impetus of the project, it being the subject of
De vooruitzichten voor aandelen zijn bemoedigend in de nasleep van een sterke sell-off, aangezien de groei van de wereldeconomie zal versnellen onder leiding van China.
Once investors have decided to invest in digital assets, the next question becomes, “Which one?” Of course, bitcoin is the most recognized, first-ever digital asset, but there are hundreds and even thousands of other digital assets in the ecosystem. One
Uzbekistan has become a notable emerging markets (EM) turnaround story, with an ambitious reform program that has ushered in economic openness, improved macroeconomic stability and an inflow of …
Global equities recorded double digit gains in 2021 for the third year running, as economies continued their recovery from the pandemic, in turn feeding corporate profits. In that regard, it was more of the same as previous years but beneath
“Zoals januari gaat, zo gaat het jaar” luidt een oude beurswijsheid. En oppervlakkig gezien lijkt dat ook zo voor de S&P500 vanaf 1964 en de AEX vanaf 1984. Voor beide beurzen geldt namelijk dat in zo’n twee derde van de
Emerging market debt (in USD terms) experienced a tepid start to 2022 as a sell-off in US Treasuries put pressure on a range of risk assets. This included EM local rates, depressing both local and hard currency returns. Concerns around
De metaverse biedt een nieuwe wereld van beleggingskansen op het gebied van sociale media, ecommerce, leren op afstand en werken. Zin om op een zwoele zomerdag met een oude vriend aan de oevers van de Seine te gaan lopen? Misschien
Cross asset allocation: Despite a volatile end to the year for markets, 2021 still was marked by strong equity market returns and above-trend economic growth. We expect the pace of growth to moderate in 2022. Central banks have begun removing
Een uitmuntend jaar voor aandelen en voor factorbeleggen in het bijzonder Aandelenmarkten in ontwikkelde landen behaalden ook in het laatste kwartaal van het jaar een mooi rendement en sloten het jaar daarmee af met een indrukwekkend rendement. De opkomst van
Fixed Income Perspectives Bond Market Outlook Global Rates: Yields to edge higher driven by ongoing inflation worries and 2022 rate-hike expectations Global Currencies: U.S. dollar to remain range-bound as market balances global Covid concerns, hawkish central bank policies Investment Grade:
Disappointing US dollar bond returns in EM local currency debt has led to a decline in flows into the asset class over the past decade. In this paper, we discuss the key reasons to invest in EM local currency debt, some of the factors behind the recent weakness in the asset class returns and prospects for the asset class going forward.
Introduction In a bubble, no one wants to hear the bear case. It is the worst kind of party-pooping. For bubbles, especially superbubbles where we are now, are often the most exhilarating financial experiences of a lifetime. I participated in
2022 will be the “year of reckoning” for DM economies when they will test the effectiveness of the policies deployed since the peak of the pandemic phase and face the challenge of retuning to normality: fiscal and monetary policies will
The gap between emerging market (EM) inflation over developed market (DM) inflation has remained contained this time, in part due to weak economic conditions, muted domestic credit creation and proactive EM central banks. Tighter EM financial conditions should anchor longer
MONTHLY INVESTMENT OUTLOOK Volatility returned to both equity and bond markets in November and December as equities exited earnings season and markets began to prepare for a change in Fed policies looking ahead. These pivots come amidst a renewed acceleration
The Wildcard. The key factor to variability around real growth at 4% will be the ultimate path of Covid-19. This was prevalent during the ’21 recovery that witnessed a large hiccup when the Delta variant emerged. This is also what
The transition to decarbonize the world is happening. Whether the goal of net-zero carbon emissions is achievable by 2050 is far from certain. What is clear: Ignoring the transition is no longer an option. Understanding how the journey will unfold
The intensifying standoff over Ukraine has led to heightened geopolitical tensions in 2022. Russia has always considered Ukraine to be under its sphere of influence, but as Ukraine has looked towards the west, the dynamic has become less acceptable for
Economists think in scenarios, investors in themes – this is at least what we can gather from the dramatic rise in thematic investments over the past three years. But before we delve into the subject, let’s first recap what has
A broader market sell-off caused market sentiment to weaken substantially in Jan., leading some to think that BTC could break critical support levels and slip into a bear market. Notwithstanding BTC’s underwhelming performance, BTC’s hashrate hit an all-time-high on Jan.
2021 will remain known as the year when both inflation and broad commodity investment woke up from their decade long slumber. While distracted observers may chalk this up to chance, specialists will recognise the effect of disrupted supply-chain and renewed
President Erdogan and his party (AKP) are facing their lowest popularity ever, and elections are not far away, in June 2023. At this point, the government is betting on a policy-mix based on low interest rates, a weaker currency and
