The future path of interest rates is highly uncertain, but we can at least be fairly confident that the level of rates will be substantially higher in the medium term than it has been in recent decades—in the U.S. and
The underlying narrative also addresses global liquidity, which has consistently bolstered global equity markets. Noteworthy is the monumental liquidity injections that played a pivotal role in supporting the global equity markets in the first half of 2023. As China grapples
The global economy has demonstrated remarkable resilience in the face of various challenges emerging from the pandemic's aftermath. Growth has remained consistent for the majority of major economies this year, with numerous threats to growth being addressed. However, there's an
The text, "Global Asset Allocation: The View From Europe – Market Perspective", highlights the varied economic growth patterns and challenges faced by major regions globally. With fluctuating inflationary pressures, central bank policies, and concerns related to China's property sector and
The text "Global Investment Views – Divergences persist: US resilience vs China weakness" paints a comprehensive picture of global economic dynamics in August. While the US showcased its economic mettle, largely driven by fiscal stimuli and business investments, China experienced
Investing in a slowing economy presents its unique set of challenges and opportunities. Jim O'Donnell, CEO of Citi Global Wealth, introduces their 2023 Mid-Year Wealth Outlook titled "Opportunities on the Horizon: Investing Through a Slowing Economy". In this report, key
De Investment Outlook 2024, geeft inzicht in de belangrijkste economische en financiële trends voor het komende jaar. Centraal staan thema's zoals geopolitieke fragmentatie, het aanhoudende conflict tussen de VS en China, klimaatverandering en de opkomst van Kunstmatige Intelligentie (AI). Terwijl de
This white paper explores the performance of several balanced portfolio allocations in various economic environments and provides insights into the impact of asset allocation on portfolio performance. In the first part of the article, we analyze the performance of two
In August, the global financial landscape was dominated by hawkish stances from key central banks in developed markets, with the Fed, under Jay Powell's leadership, emphasizing its intention to control inflation. This, coupled with stronger than anticipated US economic data,
Global economic trends have been reflecting a distinctive surge, but Japan’s story stands out. Multi-Asset Solutions Strategy Report offers an in-depth analysis into the reflationary dynamics of Japan, addressing the transformative potential in the country's economy and financial market. The
The drop in headline inflation to 3% in June from May's 4% and the better-than-anticipated bank earnings offered an optimistic economic backdrop. Despite this, Powell negated any rate cuts for the current year but hinted at potential policy easing by
Een verminderd recessierisico, een naderende piek in de rente en beter dan verwachte bedrijfswinsten maken ons minder pessimistisch over aandelen.
60/40: It’s not over until it’s over. 2022 flipped the script on the traditional 60/40 portfolio split, with inflation and growth dynamics switching the traditionally negative correlation between equities and bonds into a positive one. But we do not expect
The rise in long-term and real interest rates around the world, especially in developed economies like the U.S., signifies growing challenges in funding large deficits, a legacy of the pandemic era policies. Ratings agencies in the U.S. are now scrutinizing
In the report titled "Balancing Act", the Multi-Asset Team of August 2023 delves into the nuances of the evolving economic landscape. The US Federal Reserve's rate rise to a notable 5.5% draws parallels to historical financial dynamics, yet the resilience
De publicatie van het ING Investment Office van 23 augustus 2023 geeft een gedetailleerd inzicht in de huidige economische stand van zaken. Het voornaamste thema is de recente stijging van de obligatierentes, aangedreven door een sterke Amerikaanse economie. Terwijl Europa
The trend of U.S. retirees investing in equities has significantly risen in recent years. The core theme of this text is the changing asset allocation preferences of retirees, who are increasingly opting for equities over traditional bonds or fixed-income investments.
An Insight into the Financial World's Recent Dynamics: August 2023 was marked by a rejuvenated global equities rally. As the specter of a dire economic downturn receded, there was a significant uptick in various sectors. Specifically, the S&P 500 Index
In recent analyses of major developed economies, mixed signals emerge from leading indicators, presenting an unclear future trajectory. The Conference Board’s Leading Index, for instance, provides some evidence supporting the possibility of an impending recession. Nevertheless, there are indicators like
In the recent "Weekly commentary" dated August 14, 2023, Jean Boivin, head of the BlackRock Investment Institute, highlighted three primary takeaways from U.S. earnings. The stagnation of U.S. corporate earnings over the past year was underscored, even as Q2 showed
The article titled "Our 2023 Capital Markets Forecast’s Inflationary Vortex: A Late-Summer Reassessment" by Wilmington Trust offers a timely mid-year reflection on the unfolding events and trends of 2023. As we cross the halfway mark, it becomes essential to evaluate
"TACTICAL ASSET ALLOCATION OUTLOOK" by Columbia Threadneedle serves as a concise overview of the present financial landscape. It highlights that while momentum and volatility are presently conducive, there's a noted decline in earnings estimates. Interestingly, the allure of emerging market
In "Our View in August" by VP Bank, the fluid nature of expectations in the financial realm is explored. The narrative underscores how in the ever-shifting landscape of financial markets, it's not merely the present outcomes, such as profits or
In J. Safra Sarasin's "Cross asset weekly", the current sentiment surrounding the US economy's robust growth and dwindling inflation is assessed. Despite the burgeoning confidence among investors that the US economy will experience a soft landing, the firm expresses reservations.
In "Asset allocation monthly" by BNP Paribas, the spotlight is on the contrasting prospective levels of risk-reward presented by different asset markets. The data indicates a significant pivot in market dynamics, wherein bonds have started to overshadow stocks in terms
The recent temperature spikes have alarmed many, suggesting significant changes in the world's climate. The question of "Are we boiling?" looms large, especially given the sentiments expressed by the UN Secretary General Antonio Guterres. Drawing from an updated global temperature
The document titled "Applied philosophy: The red and the blue" explores the performance trajectory of Chinese sovereign bonds relative to US Treasuries since mid-2020. It delves into the economic dynamics shaped by fiscal and monetary policies that both countries have
p>In "Global Asset Allocation: The View From Europe", the author paints a comprehensive picture of the international economic landscape, emphasizing areas of growth, resilience, and concern. Key insights highlight the U.S. economy's unexpected strength, Europe's challenges from a mild recession
The recent performance of risky assets can be attributed to optimism, even amidst an uncertain economic backdrop. Notably, US headline inflation is easing, but its core measure remains stubborn, holding significance for monetary policies. European and UK indicators suggest a
In the "Monthly views – Equities Government bonds Commodities Credit", the state of various primary asset classes is examined. The main theme revolves around the present outlook on equities, government bonds, commodities, and credit. The text suggests a neutral stance
Mark Steffen of Wells Fargo Investment Institute presents a comprehensive view of the current housing market in the "Investment Strategy Report – Alternatives Spotlight". Despite the increased activity in new-home construction and a positive sentiment among homebuilders, housing affordability is
De tekst "Maandbericht beleggen augustus 2023 – Amerikaanse groeiaandelen genieten de voorkeur" van de auteur geeft een overzicht van de financiële ontwikkelingen van augustus 2023. Wereldwijde aandelen stijgen met 13,1%, voornamelijk dankzij de economische groei die beter was dan verwacht,
The essence of "RATES NEARING THEIR PEAK – INFLATION IS CLEARLY SUBSIDING" revolves around the recent dip in global inflation rates, marking the culmination of pressure surges. With recent CPI releases across developed nations like the US and UK producing
The central theme of the 2023 Amundi World Investment Forum (AWIF) revolves around the transformative period the global economy is undergoing. Emphasizing the significance of this metamorphosis, the report touches upon the need for investors to adapt and evolve. While
"Barometer: Volg de groei" belicht de dynamiek van zowel ontwikkelde als opkomende economieën in de huidige marktcontext. Hoewel de ontwikkelde economieën zich ogenschijnlijk goed herstellen, schuilt er een zekere zelfgenoegzaamheid in de activaprijzen. Deze houding vormt een risico, gezien de
Interestingly, while holding periods appeared to decline as major crises loomed, they have seemingly rebounded post-crisis. This could be attributed to various factors, such as the decline of prop-trading activities or simply a reactionary measure to market stress. However, the
In their report, "Where we stand: Asset class views* – Portfolio construction solutions", Federated Hermes provides insights into various asset classes and how they're positioned against the backdrop of current economic and market conditions. Let's dissect their stances: 1. Large-cap
In "Staying the Course Through Choppy Waters" by BMO GAM, the instrumental role of central banks in potential market disturbances is highlighted. Despite the economy's current stability, looming interest rate hikes could unsettle investors. While a gradual softening of the
In "House View Q3 2023", Aviva Investors presents a detailed overview of the global economy's surprising resilience to supply-side shocks which led to increased inflation and reduced disposable incomes. Despite the slowdown in growth, no major economy has fallen into
In NEUBERGER BERMAN's report titled "Allocation Committee Outlook 3Q 2023", the majority of the Asset Allocation Committee's economic expectations for the first half of 2023 have been realized. Yet, the equity market has shown an unforeseen robustness, particularly observed in
In the recent research by T. Rowe Price, a shift in global asset allocation strategy is outlined. The document titled "Global Asset Allocation: The View From Europe" highlights the firm's preference for cash over equities and bonds, given the slowing
In "Multi-Asset Strategy Quarterly", Ninety One sheds light on the cautious market outlook amidst significant global policy adjustments over the past year and a half. The firm's defensive positioning in multi-asset portfolios stems from an anticipation of potential obstacles to
The primary theme of the provided text pertains to the cautious approach investors should take in the second half of 2023 (2H23), considering the increased stock market valuations and persisting inflation pressure in the United States. Despite strong gains in
In the insightful piece 'Investor Patience may be a Virtue as Magnificent Seven Stocks Rise', Jason R. Vaillancourt points out a dichotomy in the current market situation. He notes a concentrated surge in 'The Magnificent Seven' stocks, largely driven by
Decoding Policy Shifts In the intricate dance of global economics, Franklin Templeton Investment Solutions' report, "Policy is key", spotlights the evolving monetary strategies of major central banks. Amid the dance of financial markets, the focus is now on identifying the
The text presents a detailed mid-year evaluation of 2023's global market trends and their implications. Two central themes have been the market's focus on artificial intelligence and optimism around postponing a hard landing for the US economy. The resilience of
The author reflects on their personal and professional journey so far this year, emphasizing the importance of a learning mindset in both parenting and investing. Using their experiences and errors as stepping stones, they explain the constant need for humility
The esteemed MFS® recently released its midyear insights for 2023, a detailed forecast captured in "MFS Long-Term Capital Market Expectations". This document, grounded in July 2023, projects return and risk across myriad asset classes and geographical arenas. Presented here are
Societe General is pleased to share our insights on current economic trends and market perspectives as depicted in our "House Views". This document aims to provide a succinct overview of the prevalent economic currents and our strategic positioning in response
Recent history's rapid interest rate increases have revealed financial system vulnerabilities, with US regional banks in the storm's eye. As central banks navigate the tightrope of monetary policy tightening and its unintended consequences, signs of peaking inflation might afford them
