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Posts From Prudential

The Great “Hollowing Out” of the U.S. Job Market

The Great “Hollowing Out” of the U.S. Job Market

🕔11:02, 28.Jun 2019

The U.S. labor market has shown sustained strength in the years since the global financial crisis. In assessing this performance, however, it is also important to consider the quality of the jobs that have been created. Have the new jobs

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More Macro Issues to the Fore

More Macro Issues to the Fore

🕔11:03, 11.Jun 2019

We continue to believe that there is sufficient political will for the U.S. to stay the course regarding the trade conflict with China. While our base case is for the Federal Reserve to remain on hold, if the trade situation

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QMA 2019 Q2 Capital Market Assumptions

QMA 2019 Q2 Capital Market Assumptions

🕔11:03, 11.Jun 2019

Global Economic Outlook: We expect real economic growth in the developed economies to continue to moderate over the next decade, as it has for the last 30 years. Growth of the developed labor force is limited by domestic demographics, with

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The Outlook for Escalating Trade Tensions

The Outlook for Escalating Trade Tensions

🕔11:02, 28.May 2019

Recognizing that uncertainties regarding U.S./China trade tensions have multiplied, our perspective on recent developments are based on the question of: “what do we actually know?” 

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Countdown to Zero—The Final Chapters

Countdown to Zero—The Final Chapters

🕔11:02, 28.May 2019

The Question Remains: Zero Real or Zero Nominal Yields? In our last interest-rate focused paper (Fall 2018), we hypothesized that G3 rates were temporarily boosted by fears of an acceleration in growth and an associated normalization of central bank monetary

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Signs of Euro Zone Stabilization

Signs of Euro Zone Stabilization

🕔11:02, 3.May 2019

▪ Although U.S. real private sector final demand slowed significantly in Q1 to 1.3%, the business and consumer sectors remain on solid ground amid the late-quarter rebound in retail sales and durable goods orders, near-record low weekly unemployment claims, and

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Q2 2019 OUTLOOK & REVIEW

Q2 2019 OUTLOOK & REVIEW

🕔15:02, 2.May 2019

QMA’s Global Multi-Asset Solutions Group The global economy may slow further in early 2019, given lingering trade uncertainty, a continued slowdown in China, and the lagged impact of tighter financial conditions in late 2018. However, global growth is likely to

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Back from the Brink—But What Next?

Back from the Brink—But What Next?

🕔13:02, 1.May 2019

Whiplash! Early October 2018 was only six months ago, but it may feel even more distant considering the 10-year yields in the U.S., Germany, and Japan were trading around 3.20%, 0.58%, and 0.16%, respectively. At the time, we provided our

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Quarterly Outlook  Q2

Quarterly Outlook Q2

🕔13:02, 16.Apr 2019

Fixed Income After the tumult of Q4 2018, investors deserved an easy quarter, and they got it. The Q4 trends of falling rates and rising economic concerns continued. But risk assets, like stocks and nongovernment fixed income spread products, pulled

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A Multi-Factor Strategy for Index Enhancement

A Multi-Factor Strategy for Index Enhancement

🕔11:02, 11.Jan 2019

One of the most powerful biases that drives stock behavior is also one of the most difficult to capture — investors’ tendency to overpay for stocks that have the possibility (however remote) of a very large payoff. In statistical terms,

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Global Investment Outlook & Strategy

Global Investment Outlook & Strategy

🕔11:02, 5.Nov 2018

October 2018 Stocks remain supported by strong earnings outlook, solid but uneven GDP growth momentum, gradual policy normalization, reasonable valuation & easing of some of the global concerns. However, stocks face other risks which could keep markets volatile, including US-China

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Global Investment Outlook & Strategy

Global Investment Outlook & Strategy

🕔11:02, 5.Nov 2018

October 2018 Stocks remain supported by strong earnings outlook, solid but uneven GDP growth momentum, gradual policy normalization, reasonable valuation & easing of some of the global concerns. However, stocks face other risks which could keep markets volatile, including US-China

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Global Investment Outlook & Strategy

Global Investment Outlook & Strategy

🕔13:03, 1.Oct 2018

September 2018 Turkey Turmoil, Trade Tensions & Brexit Uncertainty Cast Shadow on Equity Markets, but Strong Earnings Outlook & Solid Growth Momentum Likely to Help Stocks to Grind Higher 

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Global Investment Outlook & Strategy

Global Investment Outlook & Strategy

🕔13:03, 1.Oct 2018

September 2018 Turkey Turmoil, Trade Tensions & Brexit Uncertainty Cast Shadow on Equity Markets, but Strong Earnings Outlook & Solid Growth Momentum Likely to Help Stocks to Grind Higher 

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Equity Outlook – PGIM

Equity Outlook – PGIM

🕔13:02, 27.Aug 2018

Buybacks and M&A may fuel equities, but trade conflict is a key risk Stock buybacks, vast sums raised by private equity investing, and robust corporate M&A activity could all lend support to equities. The current trade conflict, particularly U.S. tariffs

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The U.S. Labor Productivity Puzzle

The U.S. Labor Productivity Puzzle

🕔08:05, 27.Jul 2018

Global Macro Matters One puzzling feature of the economic data in recent years has been a sharp slowdown in the pace of labor productivity growth. As shown in Figure 1, labor productivity in the U.S. non-farm business sector retreated from

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Five Areas of Focus for Defined Contribution Plans

Five Areas of Focus for Defined Contribution Plans

🕔08:47, 20.Jul 2018

Executive Summary While helping participants meet retirement goals is a challenge and can be complex, most fiduciaries know what needs to be done. The answers have become clearer as the industry has focused on understanding the investment math that is

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Defined Contribution Investments on Trial

Defined Contribution Investments on Trial

🕔08:47, 20.Jul 2018

Executive Summary There is significant debate as it relates to the appropriate investment approach for defined contribution plans. Now more than ever, plan sponsors are faced with a unique set of challenges when it comes to helping participants meet their

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Global Outlook

Global Outlook

🕔08:41, 20.Jul 2018

Focusing on Growth | May 2018 As interest rates start to move upwards, compression of real estate yields is slowing and investors are looking at a world in which returns are lower than they have become accustomed to in recent

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Global Outlook

Global Outlook

🕔08:41, 20.Jul 2018

Focusing on Growth | May 2018 As interest rates start to move upwards, compression of real estate yields is slowing and investors are looking at a world in which returns are lower than they have become accustomed to in recent

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Q3 2018 Outlook and Review

Q3 2018 Outlook and Review

🕔11:02, 19.Jul 2018

Investment Outlook In the face of rising rates and roiling trade disputes, we believe risk assets in the US are still more likely to outperform safe assets and the majority of overseas assets over the next three to six months.

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Five Areas of Focus for Defined Contribution Plans

Five Areas of Focus for Defined Contribution Plans

🕔08:46, 19.Jul 2018

Many answers, but a few questions still remain. Growing reliance as a primary retirement savings vehicle, default-driven behavior, and increasing fiduciary scrutiny continue to characterize the defined contribution (DC) environment. Given these trends, we have identified five key areas plan

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The End of Sovereignty?

The End of Sovereignty?

🕔07:03, 18.Jul 2018

Globalization, nationalism and the implications for institutional investors Never before in human history have people, information and capital moved across borders at the speed, frequency and volume we see today. These global forces have blunted the ability of individual sovereign

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Defined Contribution Investments On Trial

Defined Contribution Investments On Trial

🕔07:12, 14.Jul 2018

In Defense of an Institutional Approach There is significant debate as it relates to the appropriate investment approach for defined contribution plans. Now more than ever, plan sponsors are faced with a unique set of challenges when it comes to

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Defined Contribution Investments On Trial

Defined Contribution Investments On Trial

🕔08:45, 29.Jun 2018

In Defense of an Institutional Approach There is significant debate as it relates to the appropriate investment approach for defined contribution plans. Now more than ever, plan sponsors are faced with a unique set of challenges when it comes to

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Defined contribution investments on trial

Defined contribution investments on trial

🕔08:48, 27.Jun 2018

In the Defined Contribution (DC) space, there is significant debate as it relates to the appropriate investment approach in helping participants build and manage retirement savings. The various approaches are being “litigated” in deliberations at committee meetings, at conferences, in

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When the Dust Flies

When the Dust Flies

🕔09:03, 16.Jun 2018

How Volatility Events Affect Asset Class Performance Some investors have been surprised by the duration of the current stock market rally and, until just recently, the very low level of equity market volatility (e.g., VIX). However, many are concerned about

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Q&A with QMA – How Smart is Smart Beta?

Q&A with QMA – How Smart is Smart Beta?

🕔08:53, 16.Jun 2018

The rapid growth of smart beta strategies in recent years has provided our clients with a powerful new tool in their search for better returns, but it has also sowed quite a bit of confusion. Here, Stacie Mintz, portfolio manager

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Q&A with QMA – How Smart is Smart Beta?

Q&A with QMA – How Smart is Smart Beta?

🕔08:53, 16.Jun 2018

The rapid growth of smart beta strategies in recent years has provided our clients with a powerful new tool in their search for better returns, but it has also sowed quite a bit of confusion. Here, Stacie Mintz, portfolio manager

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Five Areas of Focus for Defined Contribution

Five Areas of Focus for Defined Contribution

🕔08:53, 16.Jun 2018

Executieve Summary Growing reliance as a primary retirement savings vehicle, default-driven behavior, and increasing fiduciary scrutiny continue to characterize the defined contribution (DC) environment. Given these trends, we have identified five key areas plan sponsors and their advisors should focus

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Revisiting the Role of Alternatives in Asset Allocation

Revisiting the Role of Alternatives in Asset Allocation

🕔08:52, 16.Jun 2018

From the US stock market’s bottom in March 2009 through December 2015, US broad market equity indices returned more than 200%, far surpassing the gains made in most alternative strategies. As a result, many institutional investors are finding themselves faced

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Looking Ahead After the U.S./North Korea Summit

Looking Ahead After the U.S./North Korea Summit

🕔08:51, 16.Jun 2018

The historic summit between the U.S and North Korean leaders in Singapore ended with impressive imagery. Slated as more of a “get-to-know” encounter, the summit left little room for disappointment and, indeed, the joint statement by President Trump and Chairman

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The End of Sovereignty

The End of Sovereignty

🕔08:45, 16.Jun 2018

Globalization, nationalism and the implications for institutional investors  Never before in history have people, information and capital moved across borders at the speed, frequency and volume we see today. In PGIM’s latest white paper, we take a closer look at

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Global Investment Outlook & Strategy

Global Investment Outlook & Strategy

🕔11:03, 11.Jun 2018

June 2018 Increased Market Volatility with Italian Political Drama, Korea Summit Setback & Simmering Trade Tensions. However, Stocks Remain Supported by Strong Earnings Results, GDP Growth Rebound & Gradual Policy Normalization 

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Global Investment Outlook & Strategy

Global Investment Outlook & Strategy

🕔11:03, 11.Jun 2018

June 2018 Increased Market Volatility with Italian Political Drama, Korea Summit Setback & Simmering Trade Tensions. However, Stocks Remain Supported by Strong Earnings Results, GDP Growth Rebound & Gradual Policy Normalization 

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Half of retirees retired (much) earlier than planned

Half of retirees retired (much) earlier than planned

🕔08:02, 31.May 2018

Even the best-laid plans don’t always work. Prudential’s research study found that about half (51%) of retirees retired earlier than planned. While early retirement may seem like welcome news, only 23% retired earlier than planned because they either had enough

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The End of Sovereignty?

The End of Sovereignty?

🕔08:09, 19.May 2018

Globalization, nationalism and the implications for institutional investors Never before in human history have people, information and capital moved across borders at the speed, frequency and volume we see today. These global forces have blunted the ability of individual sovereign

Read Full Article
The End of Sovereignty?

The End of Sovereignty?

🕔07:46, 16.May 2018

Never before in human history have people, information and capital moved across borders at the speed, frequency and volume we see today. These global forces have blunted the ability of individual sovereign states to shape their own economic destinies. The

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The End of Sovereignty?

The End of Sovereignty?

🕔08:45, 10.May 2018

Never before in human history have people, information and capital moved across borders at the speed, frequency and volume we see today. These global forces have blunted the ability of individual sovereign states to shape their own economic destinies. The

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Global investment outlook & strategy

Global investment outlook & strategy

🕔13:03, 2.May 2018

Global stock markets remained on a roller-coaster ride in February and early March as fears of a trade war were offset by the Goldilocks U.S. jobs report & Korea tensions de-escalation. Equity markets are likely to fully recoup February losses

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Global investment outlook & strategy

Global investment outlook & strategy

🕔13:03, 2.May 2018

Global stock markets remained on a roller-coaster ride in February and early March as fears of a trade war were offset by the Goldilocks U.S. jobs report & Korea tensions de-escalation. Equity markets are likely to fully recoup February losses

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At Cruising Altitude With Seat Belts At The Ready

At Cruising Altitude With Seat Belts At The Ready

🕔08:46, 12.Apr 2018

This edition of PGIM Fixed Income’s Quarterly Outlook leads off with “Air Pockets at Cruising Speed—Welcome to QT” by Robert Tipp, CFA, Chief Investment Strategist and Head of Global Bonds. In examining some prevalent market concerns, including quantitative tightening (QT),

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Loco For Emerging Markets Local Debt And Fx

Loco For Emerging Markets Local Debt And Fx

🕔08:05, 3.Apr 2018

Perspectives Significant developed market policy accommodation, including quantitative easing, has been a part of the prevailing emerging market investment landscape since the Global Financial Crisis (GFC). And, as the developed market central banks spent much of the last five plus

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What’s Driving Global Inflation?

What’s Driving Global Inflation?

🕔08:06, 21.Mar 2018

First, inflation has become much more difficult to explain—the explanatory power of our regression framework is lower in the years after the financial crisis than in the years before. Second, as a related matter, this decline in our ability to

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Asset Allocation With Illiquid Private Assets

Asset Allocation With Illiquid Private Assets

🕔08:01, 16.Feb 2018

Illiquid assets  In an environment of low public market expected returns, the higher expected returns of some illiquid private assets look enticing despite the lack of reliable secondary markets – investors effectively must hold these illiquid assets until maturity. The

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Demystifying The Source Of Large Alpha In Small Caps

Demystifying The Source Of Large Alpha In Small Caps

🕔07:01, 4.Feb 2018

In Brief Market and regulatory events are challenging corporate pension plans to find innovative ways to manage drawdown risk and improve the health of their plans. To achieve these goals, plan sponsors need to optimize the trade-off between funded status

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Trends for 2018

Trends for 2018

🕔07:51, 30.Jan 2018

Global Real Estate Trends Set to Shape the Next 12 Months Liquidity Support Easing Back: Declining central bank liquidity and gradually rising interest rates imply reduced support for asset values. Investment Market Tracking Sideways: Investment volume has leveled off, refl

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Future looking bright for active management

Future looking bright for active management

🕔07:40, 26.Jan 2018

Money management executives are expecting that low market returns and high volatility in 2018 will lead to more opportunities for savvy active managers. “The big theme (for years) has been the flows into passive. I think we’re going to see

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2018 Year Ahead

2018 Year Ahead

🕔11:02, 15.Jan 2018

Global Investment Outlook After a Powerful Equity Rally in 2017, Further Stock Market Gains likely in 2018 with Continued Strong Earnings Growth, Solid, Synchronized Global GDP Growth & U.S. Tax Cuts. Liquidity Support with BoJ QE & Emerging Market Rate

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Can We Predict the Next Market Crash?

Can We Predict the Next Market Crash?

🕔08:01, 24.Nov 2017

PGIM Fixed Income Although the Global Financial Crisis (GFC) of 2008 is almost a decade behind us, its ghost continues to haunt the investment landscape, particularly as risk markets reach new highs. For those searching for signs of the next

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