To neutral and beyond

To neutral and beyond

🕔15:15, 31.Oct 2022

Central bank watch: The global hiking cycle is in full swing. In our analysis, we expect all central banks, except the Bank of Japan (BoJ) and the People’s Bank of China (PBoC), to remain formidable hawks until at least early

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EMEA-Listed ETF Flash Flows

EMEA-Listed ETF Flash Flows

🕔13:47, 31.Oct 2022

ETFs posted net inflows of $1.2bn last week. Fixed Income ETFs captured $744mn, while Equity gathered smaller net inflows …

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Global Fixed Income Update – October 2022

Global Fixed Income Update – October 2022

🕔12:57, 31.Oct 2022

Growth is slowing but not collapsing. Elevated inflation is squeezing household incomes, confidence and spending, leading to a slowdown in economic activity as illustrated in Figure 1. Recently, weaker activity has been registered in both the manufacturing and service sectors,

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Anywhere to Hide?

Anywhere to Hide?

🕔10:58, 31.Oct 2022

Global Asset Allocation: The View From Europe: Hopes for a continuation of the summer rally off the June lows were dashed in the back half of the third quarter. The inflection lower in risk assets coincided with Fed Chairman Jerome

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Quick take: Britannia unhinged

Quick take: Britannia unhinged

🕔10:00, 31.Oct 2022

Liz Truss’s defenestration last week exposed deep divisions over economic policy within the UK government and Conservative party. In winning the general election in 2019, Boris Johnson concealed these divisions by promising both higher public spending to his new voters

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Biodiversity Restoration

Biodiversity Restoration

🕔13:41, 29.Oct 2022

The business case for investing in biodiversity is strong: Awareness of the biodiversity investment opportunity is where climate change was 5–10 years ago, but it is catching up rapidly. USD 44 trillion worth of the economic value generated each year

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What it means to be a sustainable investor

What it means to be a sustainable investor

🕔11:50, 29.Oct 2022

The natural world is in crisis: We are losing biodiversity – the very fabric of life – at an alarming rate. Investors would do a poor job if they did not seek to preserve the fabric that is at the

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Embracing Change

Embracing Change

🕔10:45, 29.Oct 2022

Growth is slowing and inflation is climbing steadily due to the serious energy shock in late 2021. Central banks are starting to withdraw monetary stimulus and talking about rate hikes in the near future. The spectre of stagflation is re-emerging,

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Do public equities have a role to play in impact investing?

Do public equities have a role to play in impact investing?

🕔09:05, 29.Oct 2022

Impact Investing In terms of asset class, impact investing has traditionally been associated with private capital. Public equities make up just 17% of the USD 502 billion in assets managed in impact strategies1 , a negligible amount compared with the

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Are consumers really trading down to private label foods yet?

Are consumers really trading down to private label foods yet?

🕔13:00, 28.Oct 2022

Since at least February, with the start of Russia-Ukraine War, many investors and sell-side analysts have sounded the alarm that private label was positioned to gain meaningful market share at the expense of branded food. There was certainly a logic

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De gezondheidscrisis heeft de investeringsmogelijkheden in security vertienvoudigd

De gezondheidscrisis heeft de investeringsmogelijkheden in security vertienvoudigd

🕔12:45, 28.Oct 2022

Ondernemingen die beveiligingsproblemen aanpakken, bieden aantrekkelijke lange-termijnopportuniteiten voor beleggers. Daarvan is Anjali Bastianpillai, Senior Product Specialist van de Securitystrategie bij Pictet Asset Management, stellig overtuigd: ‘Je veilig voelen is een menselijke basisbehoefte. Of het nu gaat om bescherming tegen cyberaanvallen,

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Podcast: Corporate Green Bonds: fostering a net-zero emissions economy and protecting the environment

Podcast: Corporate Green Bonds: fostering a net-zero emissions economy and protecting the environment

🕔11:14, 28.Oct 2022

Green bonds enable capital-raising and investment in projects that foster a net-zero emissions economy and protect the environment. Green bonds can cover a variety of projects, such as renewable energy, energy efficiency, green buildings, clean transportation, a circular economy, and

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Equity investing in an inflationary environment

Equity investing in an inflationary environment

🕔10:02, 28.Oct 2022

After a long hiatus, the resurgence of inflation has become a key concern for investors over the past year. Central banks are moving towards a tighter monetary stance as they seek to tame long-term inflation expectations. With falling real incomes

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Clean energy invetments: a new addition to the investors’ inflation toolkit?

Clean energy invetments: a new addition to the investors’ inflation toolkit?

🕔16:09, 27.Oct 2022

While investors have typically looked to commodities as an inflation hedge, a lack of income, coupled with volatile prices, has resulted in low risk-adjusted returns. Can direct energy investments help investors guard against rising prices? Clean energy: protecting investors against

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A Green Future For Steel

A Green Future For Steel

🕔14:40, 27.Oct 2022

Steel is a crucial input for multiple key sectors such as construction, renewable energy production and transport and is a fundamental element of a successful economic transition to net zero. The 2015 United Nations Framework Convention on Climate Change (UNFCCC)

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The Federal Reserve will stay hawkish — what will that mean for markets?

The Federal Reserve will stay hawkish — what will that mean for markets?

🕔12:43, 27.Oct 2022

Stocks and bonds have pulled back since the Fed clarified its commitment to fighting inflation. Despite volatility, we believe equities will stay within a broad trading range and not retest earlier lows. Rising yields, particularly among spread assets, should make

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Fast Filtering with Large Option Panels: Implications for Asset Pricing

Fast Filtering with Large Option Panels: Implications for Asset Pricing

🕔10:38, 27.Oct 2022

The cross-section of options holds great promise for identifying return distributions and risk premia, but estimating dynamic option valuation models with latent state variables is challenging when using large option panels. We propose a particle MCMC framework with a novel

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Real-Time Macro Information and Bond Return Predictability: A Weighted Group Deep Learning Approach

Real-Time Macro Information and Bond Return Predictability: A Weighted Group Deep Learning Approach

🕔08:10, 27.Oct 2022

This paper proposes a weighted group neural network model and reexamines whether treasury bond returns are predictable when real-time, instead of fully-revised, macro information is used. Real-time macro vintage data and news-based topic attention are taken into account. We find

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Krachtige trends drijven private equityinvesteringen in gezondheid

Krachtige trends drijven private equityinvesteringen in gezondheid

🕔07:53, 27.Oct 2022

Aan de basis van private equity beleggingen in het thema gezondheid staan krachtige macrotrends, zoals vergrijzing en het ‘consumentisme’ van de gezondheidszorg. De private equitymarkt is snel volwassen geworden en in omvang verdrievoudigd in het afgelopen decennium: van 2.000 miljard

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The State of the U.S. Retail Investor: Insights & Implications

The State of the U.S. Retail Investor: Insights & Implications

🕔16:06, 26.Oct 2022

U.S. retail investors’ heightened market activity and engagement has been fascinating to watch over recent years. There has been a number of factors which have had a profound impact on the retail investor segment, including the pandemic, technological advancement in

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Quarterly Outlook Q4 2022

Quarterly Outlook Q4 2022

🕔14:11, 26.Oct 2022

There was no shortage of fear in the global bond markets in the third quarter. Central banks aggressively pushed short rates higher in response to the worst inflation of the last half …

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We need to talk about yields

We need to talk about yields

🕔12:38, 26.Oct 2022

Schroders CIO Lens: At the beginning of the summer, I asked the question “are we there yet?”, in relation to whether it was time to start thinking about taking on more investment risk. The answer then was no. At that

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De rol van Pictet Asset Management bij de aanpak van biodiversiteitsverlies

De rol van Pictet Asset Management bij de aanpak van biodiversiteitsverlies

🕔10:03, 26.Oct 2022

Het verlies aan biodiversiteit vormt een minstens even grote bedreiging voor de leefbaarheid van de aarde als klimaatverandering.  De aanpak van de biodiversiteit is echter nog uitdagender dan de aanpak van klimaatverandering. Bij klimaatverandering draait alles om slechts één variabele,

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Attractive opportunities remain across four key credit markets

Attractive opportunities remain across four key credit markets

🕔14:26, 25.Oct 2022

It has been a challenging year for fixed income markets in 2022 amid rising inflation and slowing global growth. While uncertainty is likely to remain elevated, today’s starting yields offer an attractive entry point for long-term investors. Yields across sectors

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Policy Pressure

Policy Pressure

🕔14:23, 25.Oct 2022

Amid sticky inflation, central banks are continuing to maintain a hawkish stance with higher peak interest rates anticipated compared to last month. Nonetheless …

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Fixed income at Capital Group: Targeting predictable outcomes to deliver on expectations

Fixed income at Capital Group: Targeting predictable outcomes to deliver on expectations

🕔12:16, 25.Oct 2022

Mike Gitlin, Capital Group’s head of fixed income, sets out the importance of investing in bond funds that deliver on their stated objective. He also explains what differentiates Capital Group from industry peers. We’ve heard you talk about the four

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Collaborating to boost engagement impact

Collaborating to boost engagement impact

🕔10:50, 25.Oct 2022

Active Ownership Report 2020: Welcome to our second annual Active Ownership Report, in which we report on our activities globally for the first time. The objective of this report is to inform our clients and other stakeholders of our stewardship

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Into the unknown

Into the unknown

🕔10:22, 25.Oct 2022

Q4 2022 Investment Outlook: The global economy is facing a confluence of shocks, most recently the severe reaction in UK assets and FX to the new fiscal package (roughly 10% of GDP, unfunded). Market confidence has continued to slide on

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Cyclical Outlook: Prevailing Under Pressure

Cyclical Outlook: Prevailing Under Pressure

🕔09:10, 25.Oct 2022

Our baseline cyclical forecast includes shallow recessions and rising unemployment across large developed markets, with growth unlikely to bounce back quickly. Central bankers appear squarely focused on …

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Equity Market Outlook 4Q 2022

Equity Market Outlook 4Q 2022

🕔16:16, 24.Oct 2022

Economic and Market Review: Key Considerations for Equity Investors The outlook we laid out last quarter remains unchanged, and yet the debate about whether we are in a bull or bear market has been as volatile as the market itself.

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Investing in volatile times

Investing in volatile times

🕔14:47, 24.Oct 2022

The investment lexicon is currently dominated by inflation and recession. But what could these terms – so readily used by investors and their advisors – actually …

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Fixed income markets: when short term pain can bring long term gains

Fixed income markets: when short term pain can bring long term gains

🕔10:55, 24.Oct 2022

2022 has not been a great time for bonds. Year-to-date, the Bloomberg Global Aggregate Index and Bloomberg US Treasury Index returned-20% and -13%, respectively. 1 Meanwhile, risky asset classesalso sold off significantly, which has …

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Aanpassing aan de klimaatverandering: hoe leven op een warmere planeet

Aanpassing aan de klimaatverandering: hoe leven op een warmere planeet

🕔10:15, 24.Oct 2022

Naarmate de opwarming van de aarde voortduurt, moeten steden zich aanpassen aan een frequenter voorkomen van dodelijke hittegolven en moeten ze investeren in nieuwe technologieën en innovatie. Madrid en Miami worden vaak tot de beste steden ter wereld om in

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Strategic Sector Selector

Strategic Sector Selector

🕔08:53, 24.Oct 2022

In the third quarter of 2022, global equities resumed their slide with no end in sight after a brief period of hope during the summer. Waiting for a recovery at the moment feels like waiting for Godot. Global central banks

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Duurzaamheid blijft belangrijk in opkomende obligatiemarkten

Duurzaamheid blijft belangrijk in opkomende obligatiemarkten

🕔08:40, 23.Oct 2022

In een verder ongunstige omgeving voor obligatieemittenten en -beleggers ziet de toekomst voor obligaties uit opkomende markten er zonder twijfel groen uit. Stijgende wereldwijde rentes en volatiele markten hebben zwaar gewogen op zowel het aanbod van als de vraag naar

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Betere manieren om de wereld te voeden

Betere manieren om de wereld te voeden

🕔09:58, 22.Oct 2022

Voedselzekerheid is door de Oekraïnecrisis een nog urgenter wereldwijd probleem geworden. Beleggers kunnen helpen om oplossingen te bedenken – van boer tot bord. De forse stijging van de voedselprijzen en de bevoorradingsproblemen, die nog verergerd werden door de Russische invasie

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Attractive valuation, but selectivity is required

Attractive valuation, but selectivity is required

🕔10:49, 21.Oct 2022

Flash Update: The recent round of positive performances in local currency markets has offered investors hope of some recovery after the asset class dropped by 16% between mid-February and mid-May 2022. Rising yield levels have contributed the most to the

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Contained EM inflation and higher real yields suggest relative value in local markets

Contained EM inflation and higher real yields suggest relative value in local markets

🕔08:30, 21.Oct 2022

The recent surge in commodity prices has amplified the acceleration in inflation that we have been seeing globally, arising from disruption to global supply chains caused by the pandemic. Expectations just a few months ago were that the drivers …

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Global Energy – a force in transition

Global Energy – a force in transition

🕔08:28, 21.Oct 2022

The global energy landscape has started to transition away from fossil and CO2 heavy fuels to more renewable sources. This trend has been well underway for several years. As of 2019, fossil fuels, as the predominant source of energy, collectively

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De obligatiemarkten en de moeilijke evenwichtsoefening van de beleidsmakers

De obligatiemarkten en de moeilijke evenwichtsoefening van de beleidsmakers

🕔20:32, 20.Oct 2022

Het risico op stagflatie maakt het leven van overheden en centrale banken veel moeilijker en het toegenomen risico op beleidsfouten zal de volatiliteit op de obligatiemarkten waarschijnlijk hoog houden. Maar er ontstaan ook beleggingskansen. Het VK ligt de laatste tijd

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Tug of war: bitcoin economics vs. Macroeconomics

Tug of war: bitcoin economics vs. Macroeconomics

🕔11:07, 20.Oct 2022

Bitcoin’s on-chain activity suggests that holding behavior and network fundamentals are much stronger than its current price would suggest. Ethereum’s successful transition to proof-of-stake marks a monumental accomplishment for its ecosystem. An uncertain macro environment continues to weigh heavily on

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EMEA-Listed ETF Flash Flows

EMEA-Listed ETF Flash Flows

🕔10:15, 20.Oct 2022

ETFs saw net outflows of $199mn last week, driven by Commodity, which lost $509mn. Equity and Fixed Income both enjoyed relatively muted net inflows of $114mn and $108mn, respectively.

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Impact of the rise in commodity prices on EM equities

Impact of the rise in commodity prices on EM equities

🕔10:05, 20.Oct 2022

A further rise in commodity prices is a key channel through which the conflict in Russia/Ukraine might affect the rest of EM. If the commodity price increase is sustained, some EM countries may suffer from a deterioration in the terms

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Flash update: UBAM – Positive Impact Equity

Flash update: UBAM – Positive Impact Equity

🕔08:21, 20.Oct 2022

Impact investing has been challenging in Europe in 2022 Interestingly, a large contributor to the underperformance compared with its benchmark comes from what PIE does not own, rather than what it does. There are some striking observations to make: first,

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Where do we find value in Emerging Market equities?

Where do we find value in Emerging Market equities?

🕔15:34, 19.Oct 2022

Emerging market equity returns have been resilient year-to-date in the face of increasing uncertainty over the global economy and rising interest rates. The region remains our preferred choice in our model asset allocation, especially if inflation peaks, which we expect

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Global House View – Q4 2022

Global House View – Q4 2022

🕔11:15, 19.Oct 2022

The year 2022 seems to have caused a regime shift in financial markets. In previous years, the assumption largely was that the world had more a deflationary issue due to aging, globalization and lack of bargaining power of labor. However

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Quick take: running the rule over Truss and Kwarteng’s fiscal radicalism

Quick take: running the rule over Truss and Kwarteng’s fiscal radicalism

🕔10:13, 19.Oct 2022

Recent weeks have seen major changes in UK economic policy with the arrival of Liz Truss as Prime Minister and Kwasi Kwarteng as chancellor, sparking major controversy and a selloff across gilts and sterling. Taking a step back, it is

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EMEA-Listed ETF Flash Flows

EMEA-Listed ETF Flash Flows

🕔15:21, 18.Oct 2022

Weekly as of 7 October 2022: ETFs posted net inflows of $1.4bn last week. Fixed Income captured $1.2bn, while Equity enjoyed $332mn of …

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Seeking reasons to buy US equities

Seeking reasons to buy US equities

🕔13:05, 18.Oct 2022

After a 24% year-to-date decline in the S&P 500, we ask what could make us turn positive on equities. A 30% further decline would help but short of that, some combination of the start of recession, VIX above 40 and

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Barometer: Aandelen blijven onaantrekkelijk, maar obligaties verdienen meer aandacht

Barometer: Aandelen blijven onaantrekkelijk, maar obligaties verdienen meer aandacht

🕔11:04, 18.Oct 2022

Aangezien de donkere wolken boven de economie nog niet zijn verdwenen, zullen aandelen wellicht verder dalen. Obligaties beginnen er echter aantrekkelijk uit te zien.

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