Welcome to the third edition of the Bond Compass. This global, quarterly report leverages analysis from State Street Global Markets showing bond flows and holdings indicators from Q1 2019, taken from a data set that represents $10 trillion1 of assets.
House View Q2 2019 According to the IMF, global growth was estimated to be 3.7 per cent in 2018, a similar rate of increase to that seen in 2017. When taken together, the past two years represent the strongest period
Trade disputes and country-specific issues dampen the global growth outlook and lead to elevated volatility in financial markets. Central banks have postponed their expected rate hikes and safe haven investments are moreover benefiting from the threat of a hard Brexit.
Frontier markets slumped in line with other non-dollar denominated markets in 2018; though outside of Argentina (which fell by -50%), frontier markets as a whole outperformed even the U.S. (see TABLE 1). Almost all of the positive contribution in 2018
Welcome to the second annual Invesco Global Fixed Income Study, part of Invesco’s suite of thought leadership studies, including the Global Sovereign Asset Management Study and the Global Factor Investing Study. In 2019, we have nearly doubled the respondents to
Don’t fight the Fed The 2019 rally in global equities continued in February as signs of an impending resolution to the US-China trade war emerged and the US Federal Reserve continued its shift begun in January to more overtly dovish
2019’s Investment Regime Will Likely Be Influenced Early On by Two Major Factors Coming from Policy Circles While predicting the course of markets for the year ahead is always a nearly impossible task, it is likely to be particularly challenging
Review of 2018, Preview of 2019 If the experience of investors could be described in meteorological terms, 2018 would surely be represented by cold drizzle punctuated by infrequent, but fairly terrifying, thunderstorms. The reliably warm and nourishing sunshine of 2017
Global Intelligence Our look at the year ahead Macroeconomic update Private markets ESG investing Asian fixed income Global fixed income U.S. equity Global
Summary Edition This report is a summary version of the full Credit Suisse Global Investment Returns Yearbook 2019, which is available in hardcopy only and contains four deep-dive chapters of analysis leveraging this unique dataset. The first chapter of the
2019 Outlook We see increasing value in bonds and cash, especially relative to equities. US government bond yields have risen significantly over the past 12 months and, contrary to popular opinion, our assessment is that they will not rise dramatically
Managing risk is key in highly volatile markets Global growth should remain sustained in 2019, but it will offer rising disparities among countries and the cycle will be desynchronised across the main regions. Despite an apparent truce in US-China trade
Q1 2019 | Capital Markets Outlook As the S&P 500 Index teetered on the verge of a bear market at year-end, we fielded numerous questions about the prospects for an impending recession. Our answer is that we do not expect
Macroeconomic backdrop We believe that global macroeconomic growth will modestly decelerate in 2019. Against that backdrop, central banks are likely to tread much more cautiously along the path of monetary policy normalisation. We expect corporate earnings to expand more slowly
Research & Strategy Insights As many democratic systems have emerged across developing countries, investors have had to be particularly vigilant around political events, such as presidential and general elections. In numerous emerging markets (EM), election years have historically coincided with
Global economy decelerates as headwinds mount and tailwinds fade After enjoying solid and accelerating global growth in 2017 and the first half of 2018, momentum has waned and we expect this trend to continue into 2019. Financial conditions have worsened
Global Investment Views Kick-off 2019 with courage and discipline After a tough December, which led to an abrupt valuation reset, risk assets rebounded in the first weeks of the year, boosted by a market-sympathetic turn in Fed rhetoric and an
Outlooks & Conviction Central bank liquidity should continue to contract but much less markedly as most of the ground was covered in 2018. Elsewhere, we expect the Fed to continue raising rates, but its new optionality now makes it less
Maintaining flexibility, being currency aware and searching out pockets of values are themes for 2019. PIMCO’s European wealth management team recently met to discuss the state of markets and our outlook for intermediary clients in Europe. Drawing on a survey
Key Forecast Trends When 2018 began, the global economy was in a cyclical sweet spot. But gathering headwinds—including those caused by debt, demographic trends and populism—changed that, leading to slower growth and poor risk-asset returns. Investors who expected last year
Investment View In 2018 zagen we in bijna alle beleggingscategorieën het rendement dalen en de volatiliteit het gehele jaar door toenemen, met name als gevolg van politieke gebeurtenissen wereldwijd. Gezien de goedkopere waarderingen en onze constructieve vooruitzichten voor de handelsspanningen
We are upgrading the likelihood of three of our geopolitical risks, even as overall market attention to geopolitics has edged down recently. We see geopolitical risk as a material market factor in 2019, especially in an environment of slowing growth
2019 To help you navigate this shifting investment landscape, we are pleased to share our first J.P. Morgan Global Alternatives Outlook.
Themes and implications from the Global Equity Investors Quarterly After a year of weak returns and an environment in which traditional style factors underperformed, many of our investors now see an above-average level of opportunity across areas of global stock
Global Macro Outlook Economic Slowdown at Diverging Rates
