While China's growth prospects are often cast in the outlook for the trade war, some longer-term trends may provide a more appropriate gauge of China's growth going forward. Indeed, the question of debt sustainability may again come to the fore
How do you view the ESG landscape? ESG (environmental, social, governance) investing has evolved considerably over the last two decades, from simple stock-exclusion strategies to more specialized thematic, engagement and impact-oriented solutions. Despite this strategic evolution, we believe that ESG
We have relatively cautious expectations for this week’s U.S./China trade negotiations. A potential truce or de-escalation in the trade war is a “good news” card for President Trump, and he could wait for additional political developments over the next six
We have been through an extraordinary period of value factor underperformance over the last 18 months. The only comparable periods over the last 30 years are the Tech Bubble and the GFC. Historically, we would expect a very sharp reversal
Weekly view from the desk As we continue assessing global oil market conditions, key factors we’re monitoring include the restoration of the Saudi Aramco facilities’ capacity vs. actual production, the likelihood that a geopolitical risk premium remains embedded in crude
Fixed income markets contain a high proportion of investors whose goal of identifying the most attractive relative value is subverted by jurisdictional or self-imposed rules, regulations, and constraints, or is superseded by other non-economic objectives, such as accounting conventions. The
The European Central Bank (ECB) delivered a broad-based easing package in its policy meeting on Thursday. The package included a wide array of measures, most notably a cut in the key policy rate deeper into negative territory and a resumption
What is the role of real assets in institutional portfolios? To answer, we first identify the major real asset classes, both public and private, review their salient features, and measure their performance since 1996. We focus on estimating real asset
While record highs on the major equity indices make for good headlines, the year-to-date returns posted by several fixed income sectors are impressive in their own right. Fueled by the second quarter’s collapse in developed market rates, long U.S. corporates
While we’ll monitor Chairman Powell’s speech at the Jackson Hole symposium—“Challenges for Monetary Policy”— for its balance and potential dovishness, we’ll also monitor comments from other FOMC voters who may not yet share a similar view, i.e. Esther George and
As Federal Reserve officials have been signaling in recent weeks, the Fed cut its target Fed funds rate by 25 bps to a target range of 2.0%-2.25% at the policy meeting that ended on July 31, marking its first interest
Quarterly Outlook Fixed Income Overview PGIM Fixed Income Third Quarter 2019 Outlook Page | 2 While record highs on the major equity indices make for good headlines, the year-to-date returns posted by several fixed income sectors are impressive in
While we expect the ECB to formally adopt an easing bias at its policy meeting later this week, we believe a 5-10 bps cut to the central bank’s deposit rate—along with revisions to its macro forecasts—won’t occur before September. And
Global outlook In This Report The prospect of a downturn almost appears to have been factored in as an inevitability due to the length of the current real estate cycle, and sentiment is under pressure from weaker news on global
Although the Fed remained on hold at its June 2019 meeting, its statement was about as dovish as could be expected given that FOMC participants appear fairly evenly divided on the need for rate cuts going forward. The split in
SDGs: Challenge and opportunity -> https://t.co/a7jH6cbyIb #SDGs #ESG #SRI #UNPRI via @UBS
Favoring Loans and CLOs Due to Attractive Valuations -> https://t.co/BCH6GJic0E #clo #fixedincome #HighYield #Credit #fomc via @PineBridge
Small,medium,large hf: how to choose? -> https://t.co/dttCZhbzjD #size #hedgefund #alternatives via @Lyxor
BRICS Economies & Commodities in the Spotlight -> https://t.co/HBIjDTAhh2 #commodities #EmergingMarkets #BRICS #tradewar via @ABNAMROeconomen
"Why you should select managers who 'eat their own cooking'" -> https://t.co/r4DDIEYK3s #mutualfunds via @cwselector
