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Posts From Columbia Threadneedle Investments

When will U.S. daily life return to normal?

When will U.S. daily life return to normal?

🕔14:06, 5.May 2021

As the U.S. continues its COVID-19 vaccination program, the Return to Normal Index measures human activity data relative to prepandemic levels. The index is constructed by our data scientists and fundamental analysts and tracks activities in the U.S. including travel,

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All standstill.

All standstill.

🕔08:35, 30.Apr 2021

In Credit: Government bond yields were little moved last week. The benchmark US 10-year note ended the week with a yield of 1.58%, barely moved from a week earlier. Inflation expectations, which have risen materially in the last year and

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Great Expectations.

Great Expectations.

🕔11:21, 27.Apr 2021

In Credit  Inflation arrived in the US last week. There was also a bumper crop of strong economic data releases. This had been largely expected and remarkably yields fell to the lowest level in a month with the US 10-year

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Earth Day 2021: How investors can support a greener future

Earth Day 2021: How investors can support a greener future

🕔16:16, 22.Apr 2021

Earth Day is an annual global event supporting environmental protection that takes place on 22 April. To support this year’s theme ‘Restore Our Earth’, some of Columbia Threadneedle’s fund managers and analysts present their thoughts on important environmental issues from

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Activity numbers won’t all return to where they were before Covid

Activity numbers won’t all return to where they were before Covid

🕔15:02, 21.Apr 2021

Covid-19 index: when might life return to ‘normal’? As one of the world’s largest economies the US is a key focus for investors. With every country attempting to return to normality following the coronavirus pandemic, we are monitoring when US

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Calm after a storm.

Calm after a storm.

🕔15:28, 16.Apr 2021

There has been a degree more stability or calm in core government markets over the last couple of weeks. This comes after a very difficult start to the year, especially in the US.

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Office-working: long-term symptoms or full recovery?

Office-working: long-term symptoms or full recovery?

🕔16:06, 14.Apr 2021

With the advent of the Covid-19 pandemic, millions of office workers worldwide were forced to work from home (WFH) for the majority of 2020. With this massive shift in employee work practice, many forecasters are predicting a …

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Fund manager interview: maintaining a global focus

Fund manager interview: maintaining a global focus

🕔12:12, 13.Apr 2021

With economies looking towards a post-Covid world and concerns around inflation growing, we talk to the manager of the Global Focus strategy about what 2021 might have in store

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How vaccines are paving the way for the ‘grand reopening’

How vaccines are paving the way for the ‘grand reopening’

🕔16:55, 1.Apr 2021

6.45pm, 15 March 2021 – this is my appointment for a first dose of the Covid vaccine. I don’t want to give away my age, but by then approaching 25 million people will have received their first vaccine dose in the UK – close to half the adult population. I don’t know which vaccine I will get, but either way we are on our way. The grand reopening is coming.

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It’s my party and I’ll wait until I want to..

It’s my party and I’ll wait until I want to..

🕔11:45, 31.Mar 2021

Core government bond yields were lower and curves were flatter after a volatile week which, at one point, saw US and Europe diverge with US treasuries bear steepening while European government bonds experienced a bull flattening on Wednesday. Markets were caught between inflation concerns …

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Together in electric dreams.

Together in electric dreams.

🕔10:05, 29.Mar 2021

Core government bond markets remain in a nervous state. The good news about the vaccination roll out (UK and US), the passage of the US fiscal package, the concurrent rise in growth expectations and normalisation of the inflation outlook have conspired to take yields close to where …

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Relationships are not easy: US equities versus Treasuries

Relationships are not easy: US equities versus Treasuries

🕔16:54, 24.Mar 2021

As the economy recovers and cyclical stocks begin to outperform, how should we think about the connection between equities and US Treasury yields? A recent rapid increase in US Treasury yields has unsettled equity markets, and to understand this

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Inflated inflation fears

Inflated inflation fears

🕔13:14, 24.Mar 2021

For bond markets, this year has been all about rising inflation expectations and more recently real yields. This has pushed yields higher and dented total returns for areas of fixed income with higher levels of interest rate risk. The effect such moves have depends on the interest rate sensitivity (duration) of the …

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Back to work

Back to work

🕔14:48, 19.Mar 2021

As mentioned previously, this trend was borne out of rising inflation expectations and augmented by a nudge higher in real rates. If this latter rate is the key discount rate for risk markets such as equities, it helps explains why this market has been …

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Some like it hot!

Some like it hot!

🕔08:24, 18.Mar 2021

At the end of last year, I reflected that you “gotta have faith in low discount rates” for risk assets, such as equities, to continue to perform well in 2021. While on the one hand the economic and earnings recovery from Covid-19 was, and continues to be, more potent than expected, allowing companies to grow-in to elevated multiples; on the other hand, an increase in ultra-cheap capital …

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Covid-19 index: when might life return to ‘normal’? – March Update

Covid-19 index: when might life return to ‘normal’? – March Update

🕔11:13, 16.Mar 2021

Since our February update, the Return to Normal Index has ticked up only slightly (Figure 1). This is not surprising: large segments of the population are still not eligible to get a vaccination. But the good news is that Covid cases, hospitalisations and positivity rates continue to fall precipitously, and vaccine distribution is accelerating. Among the index subcomponents …

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Solutions to the ever-growing plastic waste problem

Solutions to the ever-growing plastic waste problem

🕔15:20, 9.Mar 2021

Looking back over 2020 it was clearly an unusual year. The coronavirus pandemic and lockdowns have required considerable adaptation. The resilience and determination people have shown is remarkable.

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Gender diversity and equality remain on the agenda

Gender diversity and equality remain on the agenda

🕔12:23, 8.Mar 2021

To mark International Women’s Day on 8 March, some of our leading female fund managers discuss the prospects for their asset class as well as their thoughts on the wider backdrop for women in asset management and progress towards gender diversity

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In Credit: Bad start to the year… for bonds

In Credit: Bad start to the year… for bonds

🕔10:17, 5.Mar 2021

It has not been an easy start to the year for government bonds. Yields are higher around the globe for a second month as can be seen on the ‘Markets at a glance’ table. This means that total returns are

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Climate change, net zero and the employment myth

Climate change, net zero and the employment myth

🕔15:53, 1.Mar 2021

The world is changing and not just because of climate change. How companies and governments respond to the change will have significant implications, economically and competitively as well as for employment, which we will focus on in this article.

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Covid-19 index: when might life return to ‘normal’?

Covid-19 index: when might life return to ‘normal’?

🕔11:18, 23.Feb 2021

As one of the world’s largest economies the US is a key focus for investors. With every country attempting to return to normality following the coronavirus pandemic, we are monitoring when US economic activity might get back on track, as well as other measures of “normality” …

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Developing capital markets make China an exciting option

Developing capital markets make China an exciting option

🕔08:04, 22.Feb 2021

With Chinese New Year celebrations getting underway and 2021 being the Year of the Ox – a symbol of strength and determination – we look at the prospects for Chinese equities. The past several years has seen investors inundated with negative headlines about trade wars and international tensions. But what has been much overlooked is the significant progress China has made in developing its capital markets, which has made investing there more …

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Why we think it’s too early to be cautious on equities

Why we think it’s too early to be cautious on equities

🕔17:40, 20.Feb 2021

Value stocks outperformed momentum by almost 30% in November, but then gave back a third of this by the beginning of 2021 (Figure 1). Is the Georgia vote and Democrat win in the Senate the catalyst that reverses this? US investors did not think Senate control would switch to the Democrats, yet former president Donald Trump alienated centrist votes with allegations of stolen …

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Reflating a bubble

Reflating a bubble

🕔11:18, 19.Feb 2021

It was Presidents Day in the US on 15 February and we imagine ex-President Trump will be celebrating more than most after being acquitted in his second impeachment vote. There was, however, less to celebrate in government bond land.

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Developing capital markets make China an exciting option

Developing capital markets make China an exciting option

🕔10:44, 18.Feb 2021

With Chinese New Year celebrations getting underway and 2021 being the Year of the Ox – a symbol of strength and determination – we look at the prospects for Chinese equities

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A new era of investing

A new era of investing

🕔12:05, 17.Feb 2021

2020 saw unprecedented change around the globe – economically, socially and politically. The most significant impacts resulted from the global coronavirus pandemic which has potentially changed many aspects of life for ever. The investment landscape has been changing too …

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Coronavirus highlights fixed income’s potential for impact investing

Coronavirus highlights fixed income’s potential for impact investing

🕔10:17, 16.Feb 2021

Investors such as pension funds are increasingly seeking investments with a positive impact, and the surge in Covid-19 bond issuance this year indicates that fixed income is the asset class wellpositioned to deliver positive social outcomes.

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Less interest, in negative interest rates.

Less interest, in negative interest rates.

🕔07:43, 15.Feb 2021

Less interest, in negative interest rates.  Markets at a glance – 8 February 2021  It was a game of two halves for macro markets last week. Italy won in the end, with the UK coming last. For Italian bonds, spreads

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Why we think it’s too early to be cautious on equities

Why we think it’s too early to be cautious on equities

🕔16:08, 10.Feb 2021

Why we think it’s too early to be cautious on equities Macro outlook | February 2021 Value stocks outperformed momentum by almost 30% in November, but then gave back a third of this by the beginning of 2021 (Figure 1).

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Reddit in the News

Reddit in the News

🕔15:52, 4.Feb 2021

The trend higher in yields has paused. Inflation expectations have stopped rising in what has been thus far the theme for fixed income markets. As mentioned, though the risk to inflation is heightened by recent US political developments …

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“Turning to the tasks of our time”

“Turning to the tasks of our time”

🕔10:45, 27.Jan 2021

“Turning to the tasks of our time”  Joe Biden, 46th President of the United States  Markets at a glance  President Biden kicked off his new term with a flurry of executive orders and directives (30) in his first three days

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Glimpses of light at the tunnel’s end

Glimpses of light at the tunnel’s end

🕔16:03, 25.Jan 2021

After a rollercoaster 2020 for European high yield markets, 2021 looks set to be more stable. Fears of high levels of corporate defaults have proved unjustified, allowing high yield to rebound in 2020 and setting the scene for the coming year. While the second Covid-19 wave, and the new variant, are weighing on recovery, once vaccinations bring the virus under control a degree of normality …

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In Credit – All change, all change.

In Credit – All change, all change.

🕔10:04, 22.Jan 2021

It is Martin Luther King Day today and on 20 January Joe Biden will be inaugurated as the 47th and oldest ever President of the United States. There was a degree of stabilisation in rates markets last week after the inflation fears led a sell off. The benchmark 10-year US government …

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European sustainable infrastructure: in a sweet spot

European sustainable infrastructure: in a sweet spot

🕔16:29, 21.Jan 2021

In a turbulent 2020 infrastructure was an apparent safe haven, proving relatively resilient. However, the unprecedented shock to the asset class across all industry sectors and geographies at the same time, in a short period of time, has provided food for thought on several issues.

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US bond yields buoyed by the ‘Blue Wave’

US bond yields buoyed by the ‘Blue Wave’

🕔21:05, 13.Jan 2021

US bond yields buoyed by the ‘Blue Wave’ In Credit  As the US Political landscape evolves (after Democratic Party victories in Georgia) and the risk of increased (bond-financed) government spending grows, US bond yields have also risen materially. This is

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Global emerging markets: gaining momentum

Global emerging markets: gaining momentum

🕔22:09, 12.Jan 2021

Global emerging markets: gaining momentum Despite its huge impact on health and wellbeing, the Covid-19 pandemic has done little to disrupt the powerful structural trends driving growth in emerging markets (EMs). We expect these trends to gain additional momentum in

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Seeking out good alpha opportunities in emerging market debt

Seeking out good alpha opportunities in emerging market debt

🕔08:23, 11.Jan 2021

There are reasons to expect a slower and less comprehensive vaccine roll-out among EMs than in richer countries, and the fiscal damage done to already-fragile sovereign balance sheets may increase vulnerabilities. But the steady recovery of the asset class since

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Here we go again

Here we go again

🕔10:21, 7.Jan 2021

In Credit – Here we go again 4 January 2021 It was a quiet end to the year for government bond markets with yields little changed. The resolution of the Brexit negotiations was widely anticipated and there was little impact

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2021 Investment Outlook (Video)

2021 Investment Outlook (Video)

🕔14:11, 5.Jan 2021

2021 Investment Outlook (Video) Mark King, Head of Content for EMEA, is joined by a panel of our leading investors to talk about the outlook for economies and markets, as well as the themes, trends and events they expect to

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Global IG: don’t underestimate changed behaviours

Global IG: don’t underestimate changed behaviours

🕔15:30, 4.Jan 2021

Global Perspectives 2021 We came into 2020 on the back of one of the longest expansion phases ever, with increasingly loose monetary policy extending the growth cycle. Because of that growth and low interest rates, companies had been gearing up

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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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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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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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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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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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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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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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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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