Last March many would have thought that with at least three major pharmas rolling out their vaccines, nine months later the crisis would be winding down. Unfortunately, a combination of underestimated virus contagion and overestimated vaccine distribution makes it look like 2021, at least through the first half, will be a continuation of 2020.
U.S. Treasury yields rose and the yield curve steepened, as economic data came in stronger than expected. Spreads in non-Treasury sectors generally tightened, though emerging markets spreads widened amid brief dollar strength.
2021 Outlook Perspectives on today’s real estate market Our real estate team believes the current market offers opportunity for strategic allocation of private real estate for long-term investment benefit. We also see themes taking shape that will impact the opportunity
Investment perspective and market outlook 10 Predictions For the first time in the 30 years we have been issuing our annual 10 Predictions, we developed a second “revised” set in April to reflect how much the world had changed. And
U.S. Treasury yields closed higher last week, led by longer maturities. Investors were encouraged by positive news related to Brexit, coronavirus vaccines and U.S. fiscal relief efforts. The Federal Reserve (Fed) remained dovish at its December meeting, maintaining asset purchases
Weekly Investment Commentary Stocks snapped a three-week winning streak last week, with the S&P 500 Index dropping 0.5%. The U.S. elections continued to dominate the headlines, with polls showing an increasing likelihood of a Biden victory and Democratic sweep of
Weekly Investment Commentary Stocks snapped a three-week winning streak last week, with the S&P 500 Index dropping 0.5%. The U.S. elections continued to dominate the headlines, with polls showing an increasing likelihood of a Biden victory and Democratic sweep of
Weekly Fixed Income Commentary U.S. Treasury rates closed higher last week, led by longer maturities. A constructive market tone lifted rates and supported risk assets. Prospects for additional fiscal stimulus prior to the U.S. election dimmed, but rates rose nonetheless
Viewpoints from the Global Investment Committee The question seems to come up consistently in investment meetings and in every conversation with fellow investors – from retirement plans managing their asset/ liability mix, insurance companies providing guaranteed income and individual investors
U.S. Treasury yields rose across the yield curve last week, led by longer maturities. Investors saw renewed potential for a fiscal stimulus package, as well as the possibility of a Democratic sweep of the White House and Senate. Risk assets
Optimizing pension plan outcomes using public and private real asset In a world of low return expectations and even lower interest rates, pension plans are re-evaluating their portfolios, looking for alternative ways to achieve return targets and improve funded status.
Since the global financial crisis, interest rates have been anchored at unprecedented lows. At the same time, stock and bond investments have produced positive returns along with bouts of significant volatility. This has left many investors questioning long-held return expectations
Since the global financial crisis, interest rates have been anchored at unprecedented lows. At the same time, stock and bond investments have produced positive returns along with bouts of significant volatility. This has left many investors questioning long-held return expectations
Most U.S. Treasury yields increased modestly last week, led by longer maturities. The Federal Reserve (Fed) disappointed investors, as it did not expand long-duration asset purchases as some had hoped. The …
Think global Bringing women into the labour force increases the productivity of companies and cities. Various studies cite a number of reasons to support this conclusion. The most obvious cause is that the economy simply loses out on the talents,
For the first time in nearly five months, U.S. equities experienced back-toback weekly losses, with the S&P 500 Index declining 2.5%.1 The weakness was due to overbought conditions (especially in technology) plus mounting skepticism over prospects for another fiscal stimulus
U.S. Treasury yields ended last week essentially where they began, although they experienced significant volatility throughout the week. Yields generally fell each day until Friday, when the better-thanexpected employment report sparked a sharp increase. Non-Treasury sector results ended mixed.
While no real estate sector or portfolio is immune from the negative effects of the coronavirus pandemic, we believe certain sectors and strategies are better positioned in these uncertain …
U.S. Treasury yields fell steadily last week, led by longer maturities, and the yield curve flattened significantly. Wednesday’s 20-year maturity auction overwhelmed investor demand and pushed yields briefly higher, but cautious attitudes prevailed and yields fell …
Weekly Investment Commentary U.S. equities rallied again last week, with the S&P 500 Index climbing 2.5% as it approached a new all-time high.1 Economic data continued to come in ahead of expectations and corporate earnings results have not been quite
10 PREDICTIONS FOR 2020: MIDYEAR UPDATE THE RECESSION WAS LESS SEVERE AND THE RECOVERY HAS (SO FAR) BEEN QUICKER THAN MANY EXPECTED. There is no doubt that the economic downturn was incredibly deep and painful. According to the IMF, U.S.
U.S. Treasury yields ended the week modestly lower, led by longer maturities. Markets appeared focused on escalating coronavirus concerns, despite generally stronger U.S. economic data. Rising U.S. virus cases are stoking fears of another lock down and associated slowing in economic
Real estate investing in a post-coronavirus world Macro backdrop: GFC pales in comparison to the Great Lockdown The last 30 years of cap rate compression is likely over given the very low interest rate environment. Next decade is likely to
Weekly Fixed Income Commentary U.S. Treasury yields ended the week only slightly lower, masking the week’s volatility.1 Rates rose early in the week, led by longer maturities, when the Federal Reserve (Fed) announced it would begin purchasing individual corporate bonds.
Stocks snapped a three-week winning streak as markets sank sharply last week.1 Worries about an uptick in coronavirus cases, the Federal Reserve’s downbeat assessment of long-term economic growth and President Trump’s declining poll numbers all contributed to negative sentiment. But
Real estate investing in a post-coronavirus world Macro backdrop: GFC pales in comparison to the Great Lockdown The last 30 years of cap rate compression is likely over given the very low interest rate environment. Next decade is likely to
Think global According to the United Nations, more than half of the world’s population already lives in urban areas, a percentage predicted to rise to 68% by 2050. The story of the past century has been one of dramatic population
At the end of 2019, we titled our year-ahead outlook, “20/20 vision: a clearer path for growth.” That was then. Markets have since been thrown into turmoil, and investors are grappling with positioning their portfolios to minimize the damage from
Investment perspective and market outlook 10 (mostly new) predictions for 2020: A light at the end of a very long tunnel The coronavirus pandemic and the resulting countermeasures have changed everything. Outside of widespread war, the world has never witnessed
Bonds are trading, leverage isn’t bad, and widespread defaults don’t look likely Following a long, unprecedented period of stability and price appreciation, municipal bond funds experienced equally unprecedented volatility and outflows in early March as the COVID-19 pandemic, broader market
Weekly Investment Commentary U.S. stocks peaked on 19 February, then plummeted in the deepest and fastest decline to a bear market in history. Last week, prices rebounded sharply, as the S&P 500 Index experienced its largest weekly gain since 1938,
The daily whipsaw of financial market volatility continues as investors struggle to determine just how bad the economy will get and how long it will take to emerge from the still-growing coronavirus pandemic. As Nuveen’s Global Investment Committee points out,
Real Estate: Think global Retail sales are migrating online and away from physical stores, damaging the investment returns of retail property. The process is underway in all developed retail markets, but the pace of migration is uneven. Very little research
Weekly Fixed Income Commentary Risk-off sentiment hit a crescendo last week. U.S. Treasury yields continued their freefall early on, fueled by investor concerns about the COVID-19 virus.1 Yields ended the week higher for all maturities beyond 2 years, led by
Highlights • Private credit may help institutional investors address timely challenges, including generating yield and providing low-volatility, low-correlated returns. But making allocation decisions can be challenging • We favor allocations to higher-quality U.S. senior debt, particularly from health care, business-to-business
U.S. Treasury yields fell to record lows last week, led by shorter maturities. The yield curve steepened as a result. Plummeting yields supported positive total returns for all but the highest risk sectors. Markets now expect the Federal Reserve (Fed)
Weekly Investment Commentary Stocks sold off sharply last week, driven by growing fears over the coronavirus. The S&P 500 fell 11%, suffering its worst weekly decline since October 2008.1 Stocks are now 13% below their February all-time high, after being
U.S. Treasury yields fell last week, led by longer maturities. This flight- to-quality rally was driven by fears that the coronavirus may cause a larger-than-expected drag on global economic growth. Market expectations for Federal Reserve (Fed) rate cuts in 2020
Raising the bar — impact investing in a changing world A retrospective on Nuveen’s private markets impact investing portfolio from 2009 – 2018 Today we are witnessing an unprecedented wave of capital that seeks to make a difference for people
A retrospective on Nuveen’s private markets impact investing portfolio from 2009 – 2018 Today we are witnessing an unprecedented wave of capital that seeks to make a difference for people and the planet. Investors, for their part, increasingly strive to
Diversification is our highest-conviction idea. Institutional investors need to broaden market exposure to more opportunities and risks to reach long-term objectives in today’s low-yield environment. In our view, diversification is about much more than simply having a combination of assets
Treasury yields rise slightly, with all eyes on the coronavirus U.S. Treasury yields rose slightly last week, led by the short end of the yield curve. Yields were pushed higher over optimism about the containment of the coronavirus in China.
Stocks bounce back amid coronavirus fears The ongoing coronavirus crisis dominated financial headlines last week, although investors also focused on the positives of continued solid corporate earnings, good economic data and the U.S. political backdrop. On balance, the good news
Global economic growth should pick up a notch Stock prices sank on a holiday-shortened week, despite some continued decent news on the economic and corporate earnings fronts. Anxiety about the growing coronavirus scare appears to have hurt markets, and investors
Weekly Investment Commentary The world and market attention last week was focused on the U.S. strike against Iran and mounting tensions in the Middle East. Yet markets largely looked past geopolitical risks and started 2020 on a strong note.1 For
In many ways, the macro outlook is brighter today than it was one year ago as economic growth is solidifying, trade and monetary policy risks have receded and sentiment has improved. Yet, we think market returns may be lower over
Eurozone output remains positive, but sluggish, with Consensus forecasts of 1.1% for 2019. National data showed that Q3 2019 GDP growth remained stable in Italy (0.1%), Spain (0.4%) and France (0.3%). However, the slump affecting the export-oriented manufacturing sector, most
Investors have been focusing on a range of positives recently, including decent economic data, stronger-than-expected corporate earnings results and a sense that the global economy is stabilizing. Nevertheless, stock prices faltered last week on news that the U.S./China phase-one trade
Over the next few decades, the weight of economic power and impact of structural megatrends will lean heavily towards the Asia Pacific region. By 2030, Asia Pacific, led by China, will account for nearly half of the world’s output (Fig.1),
