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Posts From State Street Global Advisors

EMEA-Listed ETF Flash Flows

EMEA-Listed ETF Flash Flows

🕔13:46, 11.Jan 2022

Asset Category ETFs posted nearly $10.2bn of net inflows in the first week of January. Flows were largely driven by Equity, which gathered $8.8bn Fixed Income gathered $1.4bn of net inflows, while Money Market exposures lost $119mn.

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Curreny Commentary

Curreny Commentary

🕔08:55, 4.Jan 2022

Macro Environment The emergence of the omicron coronavirus variant was the dominant risk event in November and could have an important impact on currency and risky asset markets over the next few months. But before we get to that, it’s

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ETFs posted net inflows of $3.3bn last week, led by Equity which took in $2.4bn

ETFs posted net inflows of $3.3bn last week, led by Equity which took in $2.4bn

🕔13:48, 3.Jan 2022

EMEA-Listed ETF Flash Flows ETFs posted net inflows of $3.3bn last week, led by Equity which took in $2.4bn. Commodity exposures captured $767mn, while Fixed Income saw net inflows of $97mn. 

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Address Key Risks in 2022 with Energy and Health Care

Address Key Risks in 2022 with Energy and Health Care

🕔12:47, 30.Dec 2021

Amid persistent uncertainty, investors could stand to benefit from diversifying their portfolios. In this paper, we outline how the energy and health care sectors might help investors to grapple with inflation and further COVID challenges.

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2022 Global Market Outlook, Continuing the Climb

2022 Global Market Outlook, Continuing the Climb

🕔08:23, 13.Dec 2021

While the world maintains its focus on the battle against COVID-19, there are reasons for optimism in the months ahead. We believe the current economic recovery will continue to deliver above-potential global growth. But as we move past peak growth

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EMEA-Listed ETF Flash Flows

EMEA-Listed ETF Flash Flows

🕔16:10, 7.Dec 2021

Asset Category ETFs suffered net outflows of $996mn last week amid elevated market uncertainty. Equity weathered net outflows of $856mn while Fixed Income lost $653mn. Investors favoured Commodity, which gathered $327mn, and Money Market exposures which took in $122mn. Equity

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Central Banks Eye Digital Currencies

Central Banks Eye Digital Currencies

🕔09:50, 6.Dec 2021

Understanding CBDCs Digital currencies are increasingly in demand across the globe. Central banks have taken notice and are investigating the creation of their own Central Bank Digital Currencies. In this article, we explain what CBDCs are, why central banks are

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The World Targets Change

The World Targets Change

🕔16:50, 16.Nov 2021

Decarbonization targets are set to surge across all regions over the next three years. Already 20% have set targets. Asset owners say their responsibility to drive real change is as important as pure investment motivations. This is a major change

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Currency Market Commentary – September 2021

Currency Market Commentary – September 2021

🕔14:01, 2.Nov 2021

Currency markets are caught in the crosswinds of slower growth, higher yields/inflation and higher equity market volatility with USD as the clear beneficiary of these forces. Softer growth and shaky equity markets tend to benefit the traditional safe haven currencies

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Strong week for global equities

Strong week for global equities

🕔15:38, 28.Oct 2021

Weekly Economic Perspectives:  The Fed is poised to taper asset purchases imminently. Although language in the September meeting minutes maintained some optionality between mid-November and mid-December as start points, we suspect the earlier timeline is more likely. There really is

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Sector & Equity Compass Q4 2021

Sector & Equity Compass Q4 2021

🕔05:08, 27.Oct 2021

Flows Overview. Demand for equities remained positive through last quarter, even as the market became more volatile. ETF investments showed net inflows into the majority of categories. Institutional investor flows showed different trends to sector ETFs in their pursuit of

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Chinese Bonds: Enhancing a European Fixed Income Portfolio

Chinese Bonds: Enhancing a European Fixed Income Portfolio

🕔10:35, 18.Oct 2021

Executive Summary Improved access for foreign investors to China’s large bond market has started a conversation around the place of Chinese bonds within a global portfolio. Investors are now evaluating whether to make an allocation and, if they do, what

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Balancing Risk in a Sustaining Recovery Q3 2021

Balancing Risk in a Sustaining Recovery Q3 2021

🕔10:30, 10.Aug 2021

Smart Beta Compass  The recovery trade turns to Quality, creating opportunity in Value and Dividends. Following a strong start to 2021, equity markets continued to move higher in Q2, as the further deployment of vaccines globally is helping critical markets

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Sector and Equity Compass Looking to a Brighter World Q3 2021

Sector and Equity Compass Looking to a Brighter World Q3 2021

🕔11:01, 3.Aug 2021

Starting to play again Finishing Q2 on a High Developed equity markets ended June at record highs, reassured by signs of steady recovery and greater belief that inflation was transitory, thus delaying any necessary rate rises. Europe’s catch-up was also

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Climate Data Nuances in Equity Index Portfolios

Climate Data Nuances in Equity Index Portfolios

🕔08:38, 15.Jul 2021

In our recent paper, “Weathering the Storm: Exploring Climate Strategies”, we explored the main approaches to integrating climate considerations in investment portfolios. In this article, we dive deeper and look at some nuances in climate data that need to be

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Sector Compass Monthly Update

Sector Compass Monthly Update

🕔14:47, 14.Jul 2021

June showed similar trend characteristics to earlier in the year, with value and cyclical exposures rising again — but with a hint of caution caused by the emergence of new COVID variants and concerns over Fed tapering. Europe and the

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A Rate and Reflation Balancing Act

A Rate and Reflation Balancing Act

🕔09:26, 4.May 2021

Bond Compass: Good news was bad for bond investors in the first quarter, as improving growth prospects on the heels of accelerating vaccinations and fiscal stimulus pushed global yields higher. With administered doses nearing 700 million globally, the immunization process

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Long Term Asset Class Forecast

Long Term Asset Class Forecast

🕔14:41, 30.Apr 2021

Our longer-term asset class forecasts are forward-looking estimates of total return and risk premia, generated through a combined assessment of current valuation measures, economic growth, inflation prospects, ESG considerations, yield conditions as well as historical price patterns. We also include

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Shelter from the Storm

Shelter from the Storm

🕔16:45, 7.Apr 2021

The current backdrop poses the question, what are the best defensive strategies for a fixed income investor to pursue in a reflationary environment? As Figure 1 shows, a meaningful bond sell-off during a phase of quantitative easing (QE) is not unusual, largely because QE is ….

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The ESG Opportunity for Corporate Directors

The ESG Opportunity for Corporate Directors

🕔09:46, 26.Feb 2021

Is our board focused on the right issues? Does our board have the appropriate skills and governance process for effective ESG oversight?

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Sector Compass: Light Sector Compass Reopening, Recovery and Rotation

Sector Compass: Light Sector Compass Reopening, Recovery and Rotation

🕔15:25, 22.Jan 2021

Sector Compass: Light Sector Compass Reopening, Recovery and Rotation The sector rotation seen in flows and performance in the last two months of 2020 could continue given many investors still hold cash and are underweight the more risky areas. While

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As the Pandemic Surges, Global Economies Will Be Tested Anew

As the Pandemic Surges, Global Economies Will Be Tested Anew

🕔14:51, 16.Dec 2020

2021 Global Market Outlook COVID-19 has severely tested the global economy and markets in 2020. Aided by unprecedented monetary and fiscal stimulus, markets responded with surprising resilience. Equity valuations are critically dependent on whether a combination of treatments and vaccines

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Convertible Bonds: A Strategic Allocation

Convertible Bonds: A Strategic Allocation

🕔09:21, 16.Nov 2020

"Convertible bonds historically captured over 65% of equity upside but suffered only 50% downside"

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Forecasts Q4 2020

Forecasts Q4 2020

🕔13:16, 6.Nov 2020

"After this year’s deep contraction, the global economy is primed to rebound strongly in 2021, although the nature of the recovery will differ by sector and region."

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Sector Compass US Election: Weighing the Impact on Sectors

Sector Compass US Election: Weighing the Impact on Sectors

🕔08:08, 21.Oct 2020

High dispersion of returns between sectors has continued to offer significant opportunity for investors. We believe a selective approach remains the preferred path during Q4 2020 as uncertainty mounts around the US election, COVID-19 and regional challenges such as Brexit,

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Global Macro Policy Quarterly

Global Macro Policy Quarterly

🕔13:05, 6.Oct 2020

The Big Picture – Economics vs. Health trade-offs still dominate with big divergences  Historically unprecedented times. We are through another quarter battling Covid-19 with optimism around vaccine releases tempered by high global case incidences led by India, Brazil, and the US.

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European ETF Industry Evolution: 2 Crises Survived and 10 Years of Growth

European ETF Industry Evolution: 2 Crises Survived and 10 Years of Growth

🕔11:30, 23.Sep 2020

While ETFs have been available in Europe since 2000, in the 10 years following the Global Financial Crisis we have seen a boom in ETF asset growth. Over this period, ETFs in Europe have seen a compounded annual growth rate

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The Future is Open

The Future is Open

🕔15:07, 18.Sep 2020

Our clients are constantly grappling with market uncertainty, shrinking margins, changing regulatory requirements and a fast- changing technology landscape. As a result, their investment …

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US Elections: Investing Amid Political Risk

US Elections: Investing Amid Political Risk

🕔12:46, 11.Sep 2020

Key points Polls suggest the general mood in the US is gloomy and the electorate disapproving Trump on many key election issues, according to RealClearPolitics. Media sentiment suggests that Trump is losing ground against Biden both in the entire country

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Making Sense of the Extreme Relationship Between Value and Sentiment

Making Sense of the Extreme Relationship Between Value and Sentiment

🕔10:07, 2.Sep 2020

Insights Active Quantitative Equity (AQE) There’s a lot of disagreement in the market right now about what is cheap, and what has positive market sentiment. These themes represent important complementary characteristics that we look for when building equity portfolios. When

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An Overview of Low Volatility Strategies

An Overview of Low Volatility Strategies

🕔13:32, 28.Aug 2020

Smart Beta strategies, such as low volatility, can allow investors to modify their portfolios to better reflect their ongoing return-risk appetite in their strategic allocation. It is possible to build defensiveness into portfolios, while maintaining a degree of upside potential,

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The Relay Recovery

The Relay Recovery

🕔12:50, 18.Aug 2020

Since our Global Market Outlook update in April, shock waves from the COVID-19 crisis have continued to flow through global markets, economies, and societies. As we look forward to the remainder of the year, uncertainty abounds. Equity prices seem thoroughly

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The Shifting Role of Bonds

The Shifting Role of Bonds

🕔08:02, 11.Aug 2020

State Street Associates | Current Trends In its simplest form, asset allocation might be viewed as the choice between stocks, bonds, and cash. Stocks offer an engine for growth. Cash provides safety. The role of bonds, however …

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Pandemic, No Panic: Evidence from Institutional Investor flows

Pandemic, No Panic: Evidence from Institutional Investor flows

🕔15:30, 7.Aug 2020

Sovereign wealth funds are often referred to as “rainy-day funds”, pools of cash that their government owners can draw upon in times of economic need. It is hard to imagine a rainier day or a greater …

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Bond Compass Balancing Risk, Searching for Yield

Bond Compass Balancing Risk, Searching for Yield

🕔12:57, 27.Jul 2020

State Street Global Advisors has identified the key considerations for investors in the coming quarter, and how markets can be navigated using SPDR ETFs. We remain positive on emerging market debt (EMD). While EMD has recently risen,less developed markets have

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Sector Rotation: Can the Approach Work in Different Countries?

Sector Rotation: Can the Approach Work in Different Countries?

🕔15:41, 3.Jul 2020

Research on sector rotation, which is a popular tactical asset allocation technique, often centres on using price momentum as the sole criterion to identify outperforming sectors. The aim here  …

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Fixed Income Investing — Shift to Indexing Accelerates

Fixed Income Investing — Shift to Indexing Accelerates

🕔09:40, 5.Jun 2020

The volatility experienced on global fixed income markets in the first quarter, amid massive uncertainty emanating from the COVID-19 outbreak, has resulted in a changed landscape. Return-seeking investors are increasingly challenging the approaches they’ve used in the past. With sovereign

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The Effectiveness of Short-Selling Bans

The Effectiveness of Short-Selling Bans

🕔15:05, 15.May 2020

An Academic View As the COVID-19 virus continues to tighten its grip on the world – causing wide spread lockdowns and large-scale disruptions to global supply chains – governments, central banks, and regulators have been left with little choice but

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Beyond Mechanics: The Intersection of Securities Lending and ESG

Beyond Mechanics: The Intersection of Securities Lending and ESG

🕔14:20, 8.May 2020

 In early December 2019, one of the world’s largest pension funds announced that it “decided to suspend stock lending until further notice.” This is one example of a growing number of asset owners evaluating their securities lending practices due to

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The Realities of Rebalancing

The Realities of Rebalancing

🕔07:40, 30.Apr 2020

What is the Best Approach? Unfortunately, portfolio rebalancing is not a free lunch. And there is no ultimate rebalancing rule that applies universally. Investors with different goals and preferences …

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The Trillion Dollar Energy Windfall

The Trillion Dollar Energy Windfall

🕔17:28, 24.Feb 2020

Insights ESG Growing fears around the threat of man-made climate change combined with the increasing attractiveness of renewable energy have led to a paradigm shift that is driving a steady transition towards renewables. Fossil fuels have been a mainstay of

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Emerging Market Debt in Charts — 2020 Outlook

Emerging Market Debt in Charts — 2020 Outlook

🕔06:41, 12.Feb 2020

Low yield in developed market bonds remains a key issue for investors. In this environment, we see the potential for stronger relative returns in emerging market debt, particularly local currency bonds. Heading into 2020, a mix of supportive factors could drive this asset class.

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2020 Vision: The Coming Era of Peak Fossil Fuels

2020 Vision: The Coming Era of Peak Fossil Fuels

🕔16:40, 10.Feb 2020

Carbon Tracker Initiative is an independent financial think tank that analyses the impact of the energy transition on capital markets and the potential investment in high-cost, carbon-intensive fossil fuels. Carbon Tracker has helped to popularise the terms “carbon bubble”, “unburnable

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The Trillion Dollar Energy Windfall

The Trillion Dollar Energy Windfall

🕔16:46, 27.Jan 2020

Growing fears around the threat of man-made climate change combined with the increasing attractiveness of renewable energy have led to a paradigm shift that is driving a steady transition towards renewables.

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State Street Pulse Survey

State Street Pulse Survey

🕔06:51, 23.Jan 2020

Executive Summary The survey results are based on 102 responses from asset managers and asset owners. The firms represented are primarily large (more than $100 billion under management) and based in the United States. All respondents serve in investment management, investment

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Five ESG Investing Trends to Watch in 2020

Five ESG Investing Trends to Watch in 2020

🕔14:59, 2.Jan 2020

There are a number of signs that over this past year, ESG investing is going mainstream. Investors have grown more sophisticated in understanding the challenges of ESG data, new regulation in Europe is propelling investors to seriously pursue climate-aware investing

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5G Calling: The Contrarian Case for European Communication Services

5G Calling: The Contrarian Case for European Communication Services

🕔09:08, 11.Nov 2019

Remind Me About 5G Communications Services was the largest change in sector classification late last year. The higher profile US sector stole the headlines, courtesy of several FAANG companies. The changes made by MSCI in their European Communications index, on

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Lower Drawdowns can Deliver Cumulative Value in a Market Trending Higher

Lower Drawdowns can Deliver Cumulative Value in a Market Trending Higher

🕔07:29, 4.Nov 2019

Despite the challenging trade environment, equity prices remain near their highest levels in a decade in both the US and Europe. Volatility has remained relatively low, despite intermittent spikes, leading to increasing investor concerns around equity price sensitivity to geopolitical

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Don’t Overpay to Be Defensive

Don’t Overpay to Be Defensive

🕔16:29, 29.Oct 2019

When defensive equity positions become more appealing, stocks that exhibit lower-risk attributes, including low beta stocks and stocks in traditionally defensive sectors, can become expensive. Risk measures are not sufficient to construct a defensive portfolio; valuation is also important, as

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Maintain Liquidity in a Volatile Environment

Maintain Liquidity in a Volatile Environment

🕔10:06, 23.Oct 2019

This year, a series of geopolitical shocks have hit business sentiment in an already aged expansion. However, these shocks have been tempered by an almost universal adoption of easier monetary and fiscal policies. On the US-China trade front, tensions have

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