Consensus reactions to the Phase I US-China deal are very skeptical, but may be missing the broader point. A brief note on what happened, and the alternatives. Continue Reading Listen to the audio file or subscribe to the podcast to
PRIVATE CREDIT Amid negative yields, opportunities to generate alpha above comparable public debt Our managers’ outlook unfolds against an unusual backdrop: a remarkable rate environment, in which the number of negative-yielding debt instruments is on the rise, with a powerful
ASSET ALLOCATION Beyond the traditional lies a world of alternatives A recent innovation on the food front—a plant-based burger that echoes the flavor and texture of meat—has captured the attention of many people, including the authors of this article, a
GLOBAL REAL ESTATE Building a diversified core real estate allocation for income and stability Economies are another year further along in their mid to late cycles, and many asset classes, including real estate, are generally fully priced. In past cycles,
PRIVATE EQUITY Rapid innovation and small to mid market dynamics offer opportunities in a challenging environment As we enter 2020, we see global challenges as well as opportunities in the private equity (PE) markets. Fund-raising continues apace, investor demand is
TRANSPORT Increasing stability across sectors Even as global transportation investments have grown in size and stature, the real asset class remains little known to institutional investors. Driven by decades of globalization, the diversity of transport assets has increased dramatically. Ranging
INFRASTRUCTURE Concentrating on the core For the better part of a decade, and in particular over the last five years, institutional investors have increasingly embraced the potential of equity investment in core private infrastructure assets: diversification, inflation protection and yield.
HEDGE FUNDS Opportunities in sustainability, next-generation digital and value Among the convictions shared by our hedge fund professionals investing across a diversity of strategies: Technological advances will continue to reshape the investment landscape in 2020, offering stock selection opportunities—some arising
MACROECONOMIC OUTLOOK Why the global economy—and markets—still have room to run Although some of the risks that have weighed on the global economy may be starting to fade, it is too soon to sound the all-clear. We anticipate that 2020
The second annual edition of J.P. Morgan Asset Management’s Global Alternatives Outlook presents a 12- to 18-month outlook for a wide range of alternative asset classes. Drawing on the insights of more than 700 alternatives professionals around the globe, we
Guide to the Markets MARKET INSIGHTS Europe 1Q 2020 As of 31 December 2019
Last Christmas, the markets gave investors a fright. This year, to save us from tears, the central banks gave us something special. Equity markets delivered fantastic returns in 2019. The MSCI World Index was up 28%, led by US equities
We review trends across markets and economies in Q4 2019, consider what they mean for our multi-asset portfolios and present a positioning update. All major risk asset classes enjoyed handsome quarterly returns in Q4 2019, particularly global equities, reflected by
Equity markets ended the year on a high note, with the seasonal Santa Claus rally pushing the S&P 500 to a new all-time high. The stock market is now trading at more than 18x forward earnings, but there are plenty
IN BRIEF Since the start of 2013, consensus forecasts for the Swedish krona and Norwegian krone have been persistently bullish and persistently wrong. Despite the positive forecasts, both currencies have traded to all-time low levels versus the euro over the
Ghosts of Christmas Past After a very positive year for investors in 2019, we expect lower positive returns on financial assets in 2020 as some Ghosts of Christmas Past reappear. We don’t expect a global or US recession, and anticipate
This year was dominated by trade tension, weak manufacturing and a sharp dovish shift in monetary policy. In 2020 we anticipate that headwinds from trade and manufacturing dissipate while policy will remain accommodative; and as a result we expect economic
Emerging market debt has done well in 2019. Fundamentals for 2020 look reasonable and we see some opportunities, but risks persist, meaning a selective approach appears warranted.
This year was dominated by trade tension, weak manufacturing and a sharp dovish shift in monetary policy. In 2020, we anticipate that headwinds from trade and manufacturing dissipate while policy will remain accommodative; and as a result, we expect economic
Artificial intelligence and machine learning are prevalent in all aspects of everyday life and play an ever-increasing role in investing. Machine learning investment strategies aim to deliver persistent, uncorrelated alpha streams while adapting to changes in market conditions—without the human
Equities continued to rally in November – a relatively consistent feature of markets in 2019, despite the multitude of geopolitical risks that investors have faced this year. The negotiations between the US and China on a ‘phase one’ trade deal
Optimism about a U.S.-China trade deal, and data releases suggesting recent global industrial weakness may have bottomed, lifted risk assets in November. Major government bond markets sold off, with Italian government bonds and emerging market (EM) local currency debt particularly
IN A LOW YIELD, LATE-CYCLE ENVIRONMENT, CORE ALTERNATIVE ASSET CLASSES CAN PROVIDE INSURANCE PORTFOLIOS WITH STABLE INCOME AND LOW TOTAL RETURN VOLATILITY. Many insurers invest in alternative assets. Alternatives can provide portfolios with high returns while delivering low correlations to
War of the Worlds In this special holiday edition, Michael explains how an evening at home went awry: how a discussion about China and Hong Kong morphed into a chart war about Trump, Hoover, Taft, Rachel Maddow and Anderson Cooper.
"We more than ever need a targeted investment agenda that stimulates ‘real’ economic growth," @hanswstegeman argues, "instead of the current financial agenda, which above all sustains elevated asset prices."
Discover our Q1 2020 Economic Outlook on our website now.
Global 5G deployment could trigger the emergence of a whole range of new services, say UBP’s experts. Read this piece to find out why and how.
