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Posts From BNY

The Aerial View: Future-Proofing the U.S. Treasury Market

The Aerial View: Future-Proofing the U.S. Treasury Market

🕔10:21, 18.Nov 2021

Recent stresses in U.S. Treasury trading have been incongruous with a market that holds itself out as the deepest and most liquid in the world. For those trading in March 2020, it was surprising how the pandemic-induced panic threatened the

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Future First Insights: Helping Investors Understand Climate Risk

Future First Insights: Helping Investors Understand Climate Risk

🕔13:18, 9.Nov 2021

Creating the Right Test Case We selected the Mellon Global Infrastructure Dividend Focus Fund for testing out that approach. As a popular mutual fund reflecting investors’ current preferences, it has a broad dual mandate — exposure to infrastructure and a

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From Alternative to Mainstream

From Alternative to Mainstream

🕔15:43, 19.Oct 2021

Getting Ready for Growth Many alternative asset managers will have to adjust course to capitalize on greater investor demand, emphasizing bespoke solutions, compelling strategies and greater transparency Strategy and Competition The majority of alternative asset manager respondents expect increased allocations

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Aerial View Magazine: The Changing Faces of Dutch Pensions

Aerial View Magazine: The Changing Faces of Dutch Pensions

🕔14:09, 29.Sep 2021

Aging nations favor bonds and defined-benefit pensions The Netherlands is pursuing a first-of-a-kind transition to put its $1.9 trillion pension system on a more sustainable path. The move offers plenty of scope for opportunity, but also carries its fair share

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Digital Assets: From Fringe to Future

Digital Assets: From Fringe to Future

🕔17:07, 22.Sep 2021

In 1998, computer scientist Nicholas Szabo developed a novel, decentralized digital currency called “bit gold” based on a system mathematicians hypothesized nearly a decade prior. The development of this system was a precursor of what we know now as blockchain.2

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The Carbon Impact of Investor Relations Activity

The Carbon Impact of Investor Relations Activity

🕔11:33, 13.Sep 2021

Investor relations (IR) teams increasingly field questions for their companies about sustainability topics. According to our most recent edition of Global Trends in Investor Relations, 71.3% of IR teams globally reported in 2019 that ESG/CSR communications with investors are among

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Help For Europe: A Bold New Funding Plan

Help For Europe: A Bold New Funding Plan

🕔10:49, 21.Jun 2021

The european union’s unprecedented foray into the capital markets promises not only a green, digital transformation for the region but potentially a new era of supranational borrowing. For much of the past nine months officials at the European Commission have

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From Alternative to Mainstream – Alternatives Ascending – Chapter One

From Alternative to Mainstream – Alternatives Ascending – Chapter One

🕔14:14, 11.Jun 2021

The specter of market volatility brought on by large-scale events, such as global pandemicrelated lockdowns in early 2020, has had a strong influence on investor approaches to their portfolios. Investors are responding by building resilience into their portfolios to navigate

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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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An Existential Threat to the US Dollar

An Existential Threat to the US Dollar

🕔14:47, 28.Sep 2020

Aerial View Over the past 20 years, academics, policymakers and market participants have begun to debate the future of the US dollar (USD) as the world’s premier reserve currency, or the currency in which global …

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BNY Mellon Endowments and Foundations Performance and Asset Allocation Study (2020)

BNY Mellon Endowments and Foundations Performance and Asset Allocation Study (2020)

🕔15:12, 4.Sep 2020

Universities, philanthropies, cultural institutions and other not-for-profit organizations are contending with significant financial hardship brought on by COVID-19. From shuttered classrooms and museums, to suspended fundraising activities and hospital procedures, many of these institutions may see a shortfall in revenue

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The Pandemic Stress Test

The Pandemic Stress Test

🕔09:47, 18.Aug 2020

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

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Election Countdown: How COVID-19 is shaping the presidential race

Election Countdown: How COVID-19 is shaping the presidential race

🕔15:08, 10.Aug 2020

Aerial View The 2020 U.S. presidential election is now less than 100 days away. Will voters choose to keep Republican President Donald Trump in office for another four years, or will they elect …

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Bracing for Impact: What’s Complicating the Push to End Libor

Bracing for Impact: What’s Complicating the Push to End Libor

🕔14:35, 30.Jul 2020

When the COVID-19 market panic deepened in March, the Federal Reserve put together a $600 billion Main Street lending program to help small- and medium-sized businesses cope as the U.S. economy was tumbling into recession. But there was a wrinkle. Initially,

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Vantage Point – Alphabet Soup

Vantage Point – Alphabet Soup

🕔15:33, 17.Jul 2020

Since the last edition of Vantage Point, Covid-19 has wreaked both human and economic devastation on the world. At the time of writing (June 25), worldwide over 9 million people have contracted the disease and more than 450,000 have died

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Labor’s Lost: The Long Road to Jobs Recovery

Labor’s Lost: The Long Road to Jobs Recovery

🕔11:22, 29.Jun 2020

Aerial View The economy is facing three kinds of headwinds from COVID-19 simultaneously: a demand shock as spending drops, a supply shock as …

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Aerial View Magazine: The Inconvenient Truth About ESG

Aerial View Magazine: The Inconvenient Truth About ESG

🕔15:51, 28.May 2020

The ESG Movement has Grown Even before COVID-19 exposed the importance of public health policies to investments, there were reasons to think about environmental, social responsibility and corporate governance (ESG) issues when making investment decisions. There were Australia’s wildfires, which

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Aerial View Magazine: Where the Smart Money is Finding Safety

Aerial View Magazine: Where the Smart Money is Finding Safety

🕔12:17, 7.May 2020

The least glamorous investments on Wall Street have become some of the hottest places to be as investors worry about the unpredictable duration of the COVID-19 crisis and the risk that recent rallies in stocks and other risky assets may

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The Month Investing Changed Forever

The Month Investing Changed Forever

🕔17:20, 17.Apr 2020

The coronavirus pandemic has upended long-held conventions in markets, from models that blew up and valuations that plummeted to policy moves that were previously deemed inconceivable. Whatever investors thought would end the longest bull market on record, few could have

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Tracking market implications of a pandemic

Tracking market implications of a pandemic

🕔11:39, 24.Mar 2020

As the COVID-19 coronavirus pandemic continues to shake markets, major efforts from Central Banks and governments around the world aim to curtail negative economic repercussions. Are we headed towards a recession? How are major asset classes faring? Experts from Mellon

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10-Year Capital Market Assumptions

10-Year Capital Market Assumptions

🕔13:07, 20.Mar 2020

On an annual basis, BNY Mellon Investor Solutions, LLC develops capital market return assumptions for approximately 50 asset classes around the world. The assumptions are based on a 10-year investment time horizon and are intended to guide investors in developing their

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Debating Zero Rates

Debating Zero Rates

🕔09:52, 18.Mar 2020

As the global economy grapples with the fallout from the coronavirus, markets are weighing the efficacy of emergency fed liquidity and expectations that the central bank will use its full range of tools. “The Fed’s goal in taking this action…

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Special Market Update

Special Market Update

🕔14:53, 17.Mar 2020

March 2020 

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Sell-Off Contagion Explained

Sell-Off Contagion Explained

🕔08:46, 16.Mar 2020

Aerial View The last few weeks have been remarkable. The S&P500 staged a significant correction in late February the likes of which have not been observed since August 2011. While any unexpected jolt to the stock market tests investors’ nerves,

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Tokens of Appreciation?

Tokens of Appreciation?

🕔12:04, 27.Feb 2020

Five reasons to tokenize Simpler, faster and cheaper capital raising Access to broader swath of potential investors More transparency for all parties to a transaction Instant settlement with finality and improved liquidity Potential elimination of unnecessary middlemen 

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The Aerial View

The Aerial View

🕔17:19, 24.Feb 2020

Morning Briefing Since the middle of October, Real Clear Politics' Democratic presidential nomination betting average (see chart) for Elizabeth Warren has declined from over 50% to just 23%. Meanwhile, Joe Biden’s betting average increased from just below 20% to 25%

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The 2019 Depositary Receipt

The 2019 Depositary Receipt

🕔11:08, 12.Feb 2020

INTRODUCTION Global growth is likely to be around 3% in 2020, and the balance of risks is negative. That said, compared with a bond market that is still pricing in a US recession, or something close to it, our outlook

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Election Outcomes You’re Not Watching

Election Outcomes You’re Not Watching

🕔15:07, 31.Jan 2020

There may be more risk to the markets in the next few months than is currently priced in… Yet the policy implications of a win on either side are even more dramatic than they have been in previous years. to

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What’s Priced In?

What’s Priced In?

🕔11:54, 27.Jan 2020

Points of View Equities – 2020 earnings growth estimates have held steady so far between 9–11%. This is more in line with our “Turning the Corner” scenario where  economic growth improves in 2020. Risk sentiment as measured by implied volatility remains at subdued levels largely driven by global central

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Making the case: Active allocation to Japanese equities

Making the case: Active allocation to Japanese equities

🕔17:44, 13.Jan 2020

As it continues to bounce back from a prolonged period of contraction, the Japanese economy offers an attractive opportunity set to investors, says Miyuki Kashima, Head of Japanese Equities, BNY Mellon Asset Management Japan Limited. Economic growth has seen Japan go from

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Brexit: The Home Straight

Brexit: The Home Straight

🕔18:45, 25.Nov 2019

A roadmap for the upcoming weeks projects meaningful mood swings Tentative ranges for cable: 1.10 for worst case; 1.30 for orderly exit; 1.55 for remain Ostensible inactivity between October 2 and October 14 may add more uncertainty to the process

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Brexit: The End Of The Beginning

Brexit: The End Of The Beginning

🕔07:41, 22.Nov 2019

The final departure from 10 Downing Street is the defining visual that accompanies the end of every British premiership. Whether it’s the last wave in front of the famous black door, an emotional resignation from the podium, or the tear-stained

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Aerial View Magazine: Deciphering a Repo Dislocation

Aerial View Magazine: Deciphering a Repo Dislocation

🕔12:39, 23.Oct 2019

 I f there is one thing that whips up Wall Street, it is any sort of bottle- neck in ordinarily placid short-term money markets. So in September, when getting overnight loans in exchange for US Treasuries suddenly became expensive—much sooner

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Aerial View Magazine: Deciphering a Repo Dislocation

Aerial View Magazine: Deciphering a Repo Dislocation

🕔16:33, 17.Oct 2019

I f there is one thing that whips up Wall Street, it is any sort of bottleneck in ordinarily placid short-term money markets. So in September, when getting overnight loans in exchange for US Treasuries suddenly became expensive—much sooner in

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The Separately Managed Account Opportunity for ADR Issuers

The Separately Managed Account Opportunity for ADR Issuers

🕔17:38, 6.Aug 2019

Executive Summary While flows into Exchange-Traded Funds (ETFs) and mutual funds tend to get headlines, an area demonstrating consistent growth is the Managed Account Industry. This industry now represents almost $2 trillion in assets under management (AUM) in the United

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Central Banks are Under Assault

Central Banks are Under Assault

🕔18:51, 31.Jul 2019

Aerial View Magazine Conventional wisdom, supported by nearly a century of economic history, indicates that independent control over monetary policy—insulated from the direct interference and control of political leaders—delivers better economic outcomes. Recently, however, that independence has been threatened, as

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Brexit and ETF Migration Countdown to March 2021

Brexit and ETF Migration Countdown to March 2021

🕔12:50, 29.Jul 2019

The value of ETFs issued globally was almost €5 trillion at the end of 2018—making them one of the greatest success stories in the investment world in recent decades. Although the US still dominates the ETF market, 15% of global

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Aerial View Magazine: Sponsored Repos are Surging

Aerial View Magazine: Sponsored Repos are Surging

🕔16:50, 23.Jul 2019

Post-crisis leverage rules have constrained overnight lending in the critical market for shortterm loans called repurchase agreements or “repos” but banks and others have been developing solutions to help minimize the impact. As a result of the rules, many banks

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The Challenges of Losing Libor

The Challenges of Losing Libor

🕔09:38, 19.Jul 2019

W ithin three years’ time, an inter- est-rate bench – mark that became infamous in the aftermath of the global financial crisis could disappear from the markets for good. Replacing the London Interbank Offered Rate or “LIBOR” has become a

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Crypto’s Next Act

Crypto’s Next Act

🕔07:00, 9.Jul 2019

“We’re seeing the convergence of investor demand for digital assets alongside regulatory certainty, which we believe is being driven by the advent of more infrastructure to support access and trust in this market.” Plagued by exchange hacks, fraud, lost keys

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Aerial View Magazine: Shaken, Not Stirred

Aerial View Magazine: Shaken, Not Stirred

🕔07:00, 2.Jul 2019

New Rules That Reshaped the European money market fund universe this spring have barely dented investor appetite for the EUR1.3 trillion industry, and in fact could increase its size as firms look to diversify away from bank deposits, some industry

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Intrigue and Trade

Intrigue and Trade

🕔19:02, 26.Jun 2019

An economic forecast rests on a foundation of assumptions about politics. They are assumptions, not expectations, because politics is not an area where economists have a discernible edge. Recent trade news, the US federal budget, national security, and election results

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Shifting sands

Shifting sands

🕔13:03, 23.Jan 2019

Inflation, trade wars and euro debt are among the potential headwinds for the world’s economy in 2019, but that doesn’t mean the overall global picture is necessarily a negative one. If 2017 was the year of synchronized global growth, 2018 was

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Vantage Point 2019 Outlook

Vantage Point 2019 Outlook

🕔14:04, 18.Jan 2019

Navigating Fearful Markets Our central economic scenario is relatively benign. We see a modest slowdown in global growth in 2019, with limited inflationary pressure. The implication is that interest rates rise only gradually in the U.S. and not at all in

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Reaping the Benefits of Disruptive Technology

Reaping the Benefits of Disruptive Technology

🕔07:00, 4.Jan 2019

A joint survey conducted by Eagle Investment Systems and Hegarty Group specifically identifies how asset managers are deploying emerging technologies. The bigger question for many, also addressed, is how organizations can take the necessary steps today to access the impending

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Reaping the Benefits of Disruptive Technology

Reaping the Benefits of Disruptive Technology

🕔07:00, 29.Dec 2018

A joint survey conducted by Eagle Investment Systems and Hegarty Group specifically identifies how asset managers are deploying emerging technologies. The bigger question for many, also addressed, is how organizations can take the necessary steps today to access the impending

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2019 Outlook: A Year of Transitions

2019 Outlook: A Year of Transitions

🕔14:04, 28.Dec 2018

Trade, higher interest rates and politics dominated financial markets in 2018, resulting in a volatile and challenging year for investors. After a strong run, global equity markets corrected, adjusting to a new environment of higher rates and a less accommodative

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The Value of Active Treasury Management

The Value of Active Treasury Management

🕔07:00, 29.Nov 2018

Many asset managers consider treasury part of their operations unit and manage this function through manual, spreadsheet-oriented processes and support staff. Forward-looking asset managers, however, have recognized the importance of treasury, not only in reducing operational risks and protecting assets

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Bond issuance

Bond issuance

🕔15:04, 10.Oct 2018

In this first edition of Bond Issuance, fixed income experts from Insight Investment1 highlight recent trends in the underreported mid-tier segment of the market. What do developments in credit, emerging markets, high yield, structured finance and green bonds tell us

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ESG Special Report

ESG Special Report

🕔14:04, 4.Oct 2018

Global recognition of environmental, social and governance (ESG) issues is driving a major shift in investor attitudes, embedding itself in investment choices, becoming more integrated into processes, incorporated in risk management and intertwined with ethical concerns. Investors increasingly understand that neglecting

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