Outlook for bonds brighter; growth concerns linger

Outlook for bonds brighter; growth concerns linger

🕔16:09, 31.Jan 2023

Quarterly macro and market insights: Markets rebounded in the fourth quarter of 2022, closing a year marked by high volatility as the US Federal Reserve (Fed) reset its monetary policy path. US equities gained, credit spreads tightened and interest rate

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White paper on ESG practices in China

White paper on ESG practices in China

🕔13:48, 31.Jan 2023

ESG is an acronym for Environmental, Social, and Governance. It was first proposed by the United Nations Environment Programme as a concept in 2004, providing a complementary perspective for evaluating company performance and management in addition to financial performance. Its

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High Yield Fundamentals: Weathering a Slowdown

High Yield Fundamentals: Weathering a Slowdown

🕔11:08, 31.Jan 2023

While caution is warranted, we think many high yield companies are well-positioned to navigate a downturn given the solid fundamental starting point. In recent years, high yield companies diligently improved their balance sheets, resulting …

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Japan outlook: forging economic resilience amid global headwinds

Japan outlook: forging economic resilience amid global headwinds

🕔08:19, 31.Jan 2023

The full reopening of Japanese borders has been a boon to businesses as the country comes to terms with the hard reality of co-existing with COVID. But with the world grappling with slowing growth and pressing concerns like geopolitical …

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Can both equities and bonds be right?

Can both equities and bonds be right?

🕔15:52, 30.Jan 2023

It’s been a good start to the year, with positive returns on most assets. Upcoming Fed decisions may determine the immediate path of yields. But bonds are back and we think fund flows may push …

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Bemoedigende tekenen van herstel in Europa

Bemoedigende tekenen van herstel in Europa

🕔14:45, 30.Jan 2023

De financiële markten zijn het nieuwe jaar goed begonnen. Naast de daling van de rente, doordat de inflatie heeft gepiekt en de centrale banken de voet daardoor wat van het rempedaal kunnen halen, zijn ook de bemoedigende tekenen van herstel

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Asia ex-Japan 2023 Market Outlook

Asia ex-Japan 2023 Market Outlook

🕔12:26, 30.Jan 2023

We remain relatively constructive on Asia ex‑Japan equities for 2023. The short-term setup for China and North Asia looks attractive: Valuations are at cyclically depressed levels, and the markets are very under-owned by global investors. We are seeing clear signs

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The economy in 2023: Where we differ from market consensus

The economy in 2023: Where we differ from market consensus

🕔11:05, 30.Jan 2023

Jared Franz, for example, says the Fed will keep rates higher for longer, yet when the economy recovers, it will be stronger than prior rebounds. Meanwhile, Robert Lind argues that European policymakers will likely run looser fiscal policies and tolerate

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“What should be” versus “What is likely to happen”

“What should be” versus “What is likely to happen”

🕔09:05, 30.Jan 2023

China Market Outlook 2023 KEY INSIGHTS Since the Party Congress, China has announced a significant easing in its zero-COVID restrictions and more measures to stabilize residential property, which is encouraging. China is at a different stage of its business cycle

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ESG Megatrends: Demographics

ESG Megatrends: Demographics

🕔13:41, 27.Jan 2023

General demographics trends can be decomposed in four subcategories: population growth, population ageing, migration and urbanization. Changes in any of these segments can cause different types of impact on both economic and social developments depending on the geographical region these

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Posive Impact Emerging Equity

Posive Impact Emerging Equity

🕔10:50, 27.Jan 2023

In a world in which asset managers are struggling to differentiate themselves and outperform their benchmarks, we believe that impact investing provides an answer largely through innovative portfolio construction and we would particularly like to highlight: The results obtained by

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Securitised credit can be an important diversifier in bond portfolios

Securitised credit can be an important diversifier in bond portfolios

🕔08:31, 27.Jan 2023

As the risk of recession looms large over financial markets, how will securitised credit fare? It’s a growing area of bond markets that has become an important anchor of some actively managed, fixed income portfolios. Portfolio manager Xavier Goss discusses

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Long-run asset class performance: How climate change will impact asset returns – an update

Long-run asset class performance: How climate change will impact asset returns – an update

🕔15:51, 26.Jan 2023

Schroders Economics Group produces thirty-year return forecasts on an annual basis, which incorporates the impact of climate change. This is Part 1 of our paper where we outline the methodology used to incorporate climate change into our return assumptions. In

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Regime Change: The Benefits of Private Credit in the ‘Traditional’ Portfolio

Regime Change: The Benefits of Private Credit in the ‘Traditional’ Portfolio

🕔12:52, 26.Jan 2023

We continue to believe that, in the new macroeconomic regime we have entered, the positive correlation between stocks and bonds will likely be problematic over the long-term for the traditional 60/40 portfolio. As such, we think that the 40/30/30 framework

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EMEA-Listed ETF Flash Flows

EMEA-Listed ETF Flash Flows

🕔10:02, 26.Jan 2023

ETFs posted strong net inflows, gathering $5.8bn last week. Equity ETFs captured $3.3bn …

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Recession looms for 2023

Recession looms for 2023

🕔08:24, 26.Jan 2023

Economic and Strategy Viewpoint The coming year is expected to be one of recession for the advanced economies with the eurozone now expected to join the US and UK in recording a fall in output for 2023 as a whole.

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Paying the price for our lack of resilience

Paying the price for our lack of resilience

🕔13:49, 25.Jan 2023

Advanced Economies Outlook 2023 The outlook for 2023 is bleak. The multitude of crises have exposed the weaknesses of our economic system, culminating in record-high inflation across advanced economies. Though inflation is set to fall, there will be no early

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Orange Book: 2023 long-term capital markets outlook

Orange Book: 2023 long-term capital markets outlook

🕔13:33, 25.Jan 2023

Mackenzie presents the 2023 Orange Book, our long-term outlook on domestic and global markets. Here, we highlight our expectations for the average return of stocks and bonds over the coming decade. Day-to-day moves in financial markets make the headlines. But what

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EMs with stronger fundamentals should see inflows when they resume

EMs with stronger fundamentals should see inflows when they resume

🕔10:03, 25.Jan 2023

The global environment led to sharp outflows from EM debt markets in 2022. The rise in US interest rates (and increase in EM inflation), combined with the increase in general risk premium, reduced the relative attractiveness of EM debt …

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Resilience in times of polycrisis

Resilience in times of polycrisis

🕔08:04, 25.Jan 2023

Long-term Investment Outlook 2023 Introduction We are in a polycrisis. Our ecosystems are on the brink of collapse, our economic system is stressed, and socio-political relations are under pressure. The consequences are increasing uncertainty, lack of progress on the sustainable

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Global Asset Allocation: The View From Europe

Global Asset Allocation: The View From Europe

🕔16:48, 24.Jan 2023

Market Perspective Volatility likely to remain elevated in the new year as central bank policy expectations diverge amid evidence of slowing growth and moderating inflation. While slowing the pace of tightening, the US Federal Reserve reinforced its commitment to taming

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EMD outlook for 2023: local currency yields offer protection in volatile conditions

EMD outlook for 2023: local currency yields offer protection in volatile conditions

🕔13:52, 24.Jan 2023

Key takeaways Global factors weighing on emerging market debt in 2022 look likely to continue in 2023, but high starting yields within EM local currency debt could help offset subsequent price volatility, while negative outcomes appear to be priced in

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Brazil presidential election outcome

Brazil presidential election outcome

🕔10:30, 24.Jan 2023

Below are some takeaways by Capital Group’s emerging market sovereign debt analyst Thomas Kontchou on important economic and policy considerations given the leftist candidate Luiz Inácio Lula da Silva’s victory in Brazil’s presidential election.  The leftist Workers’ Party candidate Luiz

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30-year return forecasts – Part 2

30-year return forecasts – Part 2

🕔08:09, 24.Jan 2023

In 2020, our assumption started to incorporate the impact of climate change and the energy transition. Each year, we have developed the supporting analysis, and for this year’s update, our central case has moved to the Delayed Transition scenario following

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Alternatives under the microscope 2022

Alternatives under the microscope 2022

🕔16:05, 23.Jan 2023

Most assets struggled in 2022. Among alternatives, commodity related categories were at the top of asset rankings (again), while cryptocurrencies and private equity were at the bottom. We expect falling inflation to pave the way for better outcomes …

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Global House View – December 2022

Global House View – December 2022

🕔14:14, 23.Jan 2023

A deeper earnings downgrade is expected as valuations are yet to fully price in a recession Credit spreads, particularly in higher-grade assets, remain relatively …

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Brighter days ahead?

Brighter days ahead?

🕔11:23, 23.Jan 2023

It’s a gloomy time of year in more ways than one at the moment. Even the excitement of my recent move to a new house can’t distract from the literal and figurative darkness of January 2023. The war …

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Views in brief: Maneuvering through uncharted territory in a new year

Views in brief: Maneuvering through uncharted territory in a new year

🕔10:25, 23.Jan 2023

Global tactical asset allocation views brief: Global equities slumped over 2022, posting their worst annual returns since 2008, as Russia’s invasion of Ukraine added to already heightened inflationary pressures and caused the biggest energy price shock since the 1970s. Central

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2023 China Outlook

2023 China Outlook

🕔08:00, 23.Jan 2023

Following last October’s National Party Congress (NPC), China’s government is getting back to business to help ramp up growth. This means making significant changes to three core issues that have weighed on China’s economy and stock market, which we will

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The Global Risks Report 2023

The Global Risks Report 2023

🕔14:16, 20.Jan 2023

The first years of this decade have heralded a particularly disruptive period in human history. The return to a “new normal” following the COVID-19 pandemic was quickly disrupted by the outbreak of war in Ukraine, ushering in a fresh series

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How to use ESG ratings smartly

How to use ESG ratings smartly

🕔12:05, 20.Jan 2023

ESG (environmental, social and governance) ratings are complex and getting more so. Lively debate has been triggered by discrepancies such as Tesla being removed from the S&P 500 ESG index over concerns about working conditions and automated driver safety, while

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Long-term perspective on markets and economies

Long-term perspective on markets and economies

🕔10:09, 20.Jan 2023

Recessions are painful, no doubt about it. But they are necessary to clean out the excesses of prior growth periods, especially the more or less uninterrupted growth investors have enjoyed over the past decade.

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Long Term Outlook: Macroeconomic Scenarios and Expected Returns 2023-2026

Long Term Outlook: Macroeconomic Scenarios and Expected Returns 2023-2026

🕔08:56, 20.Jan 2023

To many investors, this year will feel like a rollercoaster. Several major developments have impacted the world economy, and in response, financial markets have reacted fiercely by repricing asset markets. Especially at times like these, it’s important to take a

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Targeting predictable outcomes to deliver on expectations

Targeting predictable outcomes to deliver on expectations

🕔16:29, 19.Jan 2023

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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Investment implications of U.S. transition policy

Investment implications of U.S. transition policy

🕔09:55, 19.Jan 2023

Assessing the impact of the Inflation Reduction Act and other recent legislation on the transition to a lower-carbon world. The transition to a lower-carbon economy is a driver of investment risk and return for our clients’ portfolios – so we

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EMEA-Listed ETF Flash Flows

EMEA-Listed ETF Flash Flows

🕔08:26, 19.Jan 2023

ETFs posted net inflows of more than $4.6bn last week. Equity attracted $2.7bn of net new assets while Fixed Income took in $2.3bn. Commodity and Money Market continued to see net outflows, losing $249mn and $172mn, respectively.

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PowerPoint Presentation

PowerPoint Presentation

🕔02:13, 19.Jan 2023

The macroeconomic backdrop, and regime shift, created a challenging environment for EM assets in 2022. Slowing economic growth, accelerating inflation, exacerbated by Russia’s invasion of Ukraine, and tighter global financial conditions were all headwinds. EM local and dollar debt both

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Emerging Markets Lens: Emerging Market Debt

Emerging Markets Lens: Emerging Market Debt

🕔23:08, 18.Jan 2023

The macroeconomic backdrop, and regime shift, created a challenging environment for EM assets in 2022. Slowing economic growth, accelerating inflation, exacerbated by Russia’s invasion of Ukraine, and tighter global financial conditions were all headwinds. EM local and dollar debt both

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The power of private real assets

The power of private real assets

🕔16:42, 18.Jan 2023

Private real assets are a powerful source of diversification for institutional investors. Private investments in the relatively illiquid categories of real assets — farmland, timberland, infrastructure and commercial real estate — have exhibited low or negative correlations to stocks and

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10-year return forecasts (2023–32)

10-year return forecasts (2023–32)

🕔14:46, 18.Jan 2023

The Schroders Multi-Asset long-term capital market assumptions are forwardlooking estimates of total returns which are an important component for the team’s strategic asset allocation modelling and portfolio construction. This note presents our latest 10-year capital market returns forecasts in local

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Global IPO Trends 2022

Global IPO Trends 2022

🕔11:59, 18.Jan 2023

A record year for IPOs in 2021 gave way to increasing volatility from rising geopolitical tensions, inflation and aggressive interest rate hikes. Weakened stock markets, valuations and post-IPO performance have further deterred IPO investor sentiment. As pipeline continues to build,

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Impact Investing in Credit: Debunking Four Common Misconceptions

Impact Investing in Credit: Debunking Four Common Misconceptions

🕔09:53, 18.Jan 2023

Fixed Income Impact portfolios can be flexibly managed to client objectives Increasingly, companies are being measured not only by their earnings and cash flow, but according to the effect their activities have on the environment and society. As a result,

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The Year of the Bond

The Year of the Bond

🕔07:30, 18.Jan 2023

The year 2022 proved to be a year of a great reset for fixed income aficionados. Bond prices are sharply lower and yields are meaningfully higher. Following a nearly 15 year period of ultra-low interest rates that starved pensions and

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Repair and remodel 2023 market outlook

Repair and remodel 2023 market outlook

🕔14:05, 17.Jan 2023

According to the Leading Indicator of Remodeling Activity (LIRA) put together by Harvard University’s Joint Center for Housing Studies, R&R spend has climbed from 9.1% to 17.8% on a trailing four-quarter basis for each of the last four quarters, which

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2023 Multi-Asset Opportunities

2023 Multi-Asset Opportunities

🕔12:56, 17.Jan 2023

Valuations, now close to their long-term norms after last year’s sell-off, should be less of a headwind for investors in 2023 than in 2022, although global economic growth is slowing on the back of tighter monetary and fiscal …

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Feeling our way towards recovery

Feeling our way towards recovery

🕔10:57, 17.Jan 2023

In the final quarter of 2022, global equities recovered some of the ground lost earlier in the year. Inflationary pressures eased somewhat, and the pace of monetary tightening slowed. The outlook for equity markets remains uncertain in the near term,

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Hoe om te gaan met geopolitieke turbulentie in het beleggingsbeleid?

Hoe om te gaan met geopolitieke turbulentie in het beleggingsbeleid?

🕔08:28, 17.Jan 2023

De oorlog in Oekraïne, het toenemende conflict tussen de VS en China, klimaatverandering en COVID-19 zorgen voor geopolitieke turbulentie, fragmentatie, en grote economische onzekerheid. In deze Marktvisie bekijken wij vanuit meerdere invalshoeken op welke manier beleggers kunnen omgaan met deze

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China reopens; developed economies slow down

China reopens; developed economies slow down

🕔16:12, 16.Jan 2023

Central banks have started to moderate the pace of tightening but we are not close to a pivot. Inflation remains too high and US labour market data continue to point towards a tight market. Central banks will keep rates at

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World markets review – Fourth quarter 2022

World markets review – Fourth quarter 2022

🕔14:25, 16.Jan 2023

Global stocks rose as investors welcomed signs that inflation may have peaked in key markets around the world. Consumer price increases — while still high on a historical basis — moderated in the U.S., Europe and …

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2023 is positief gestart

2023 is positief gestart

🕔12:19, 16.Jan 2023

Economische ontwikkelingen: ◼ Groeiverwachtingen krabbelen op, met name in Europa ◼ Inflatie daalt verder ◼ Forse daling kortlopende …

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