Recovery is on track, but inflation pressures create risks. The strengthening economic recovery from the coronavirus pandemic appears poised to broaden across regions and countries in the second half of 2021, bolstered by vaccine progress, continued fiscal and monetary stimulus,
Tourism has been one of the sectors most affected by the COVID-19 pandemic. Governments worldwide imposed strict movement restrictions and closed borders in the hope of stopping the spread of the virus. According to the United Nation’s World Tourism Organization,
As one of the world’s largest economies the US is a key focus for investors. With every country attempting to return to normality following the coronavirus pandemic, we are monitoring when US economic activity might get back on track, as
Europe is re-opening. The summer of 2020 is probably going to be the point of reference to gauge the magnitude of the looming economic rebound. The “mechanical recovery” could be spectacular again this year (assuming no bad Covid news). Indeed,
De opkomende markten zijn vorig jaar, in volle Covid19-crisis, kwantitatieve versoepeling beginnen te verkennen. Betekent dit dat kwantitatieve versoepeling nu deel uitmaakt van de monetaire instrumenten? Wat zijn de voordelen en risico's? In het licht van de huidige economische crisis
After ‘a lost decade’ of tepid performance, the Value factor has begun to stage a comeback, following the announcement of successful Pfizer-BioNTech Covid-19 vaccine candidate results on 9 November 2020. Despite the recent rally and reversal of fortunes, spreads in
The COVID-19 pandemic has affected Florida agriculture — primarily vegetable growers who were major sellers to the food service industry. The pandemic caused many of the producers that were selling to food service companies to market their crops to grocery
In the current post Covid-19 recovery phase, we see three main themes that multi-asset investors should focus on: one more tactical, in terms of risk allocation, and two more structural. – First, as the recovery advances, investors should embrace more
We have remarked previously on the similarities between asset management and football (Investing? It’s a funny old game, July 2018), and as Covid-19 swept the globe during the last 12 months, our thoughts once again turned to these parallels. At
As a result of COVID, we all now live in an age of uncertainty where having choices is important for our well-being, both financially and emotionally. Financial independence gives us choices and without these we will be trapped in unfulfilling
On the tail of hard pandemic lockdowns that imposed the deepest economic contraction on record, the US economy is reopening amid a rapid COVID-19 vaccination roll-out and an avalanche of fiscal spending. So, investors are naturally now contemplating what kind
While the attractiveness of emerging markets in the longer term isn’t in question, a number of obstacles could stop them from outperforming in the coming months. Covid reality Throughout last year, many EMs handled the pandemic much better than the
A year on from the height of the COVID-19 crisis, credit spreads have returned to their pre-pandemic tight levels. Does this present an asymmetric return profile for corporate bonds? The scope for further spread tightening is limited, in our view.
Getting the balance correct between short-term relief checks and long-term infrastructure spending is critical Last summer, at the height of the Covid-19 crisis, I bought and built a swing set for my grandchildren. Construction was reasonably straightforward and – remarkably
Vaccination rollout/lockdowns lower pandemic risk. PULSe is a composite indicator that is designed to monitor the state of global financial markets since the coronavirus crisis. It stands for Pandemic, Uncertainty, Liquidity, and Sentiment— four factors that we believe encompass much
Here is the third in a series of regular articles on current academic research into a range of responsible investment topics. The papers discussed were presented at the annual GRASFI [1] conference. The COVID-19 pandemic had a profound and immediate
From tragedy comes unity and a commitment to improve. Amid the tumultuous market environment of 2020, as virtually every country grappled with the unprecedented coronavirus pandemic, another important investment movement was emerging from a tragedy of a different kind. The
Uitdagingen voor beleggers na de coronapandemie: Ook voordat de coronapandemie de wereld begin 2020 overspoelde, verspreidden kunstmatige intelligentie (AI) en gerelateerde technologieën zich al van hun bakermat – tech- en internetbedrijven – naar andere sectoren. Door de coronacrisis kwam de
Covid-19 index: when might life return to ‘normal’? As one of the world’s largest economies the US is a key focus for investors. With every country attempting to return to normality following the coronavirus pandemic, we are monitoring when US
As the U.S. continues its COVID-19 vaccination program, the Return to Normal Index measures human activity data relative to prepandemic levels. The index is constructed by our data scientists and fundamental analysts and tracks activities in the U.S. including travel,
The coordinated central bank response to the COVID-19 crisis has pushed real yields in the developed world into firmly negative territory. While this policy action prevented a prolonged recession, it has left fixed-income investors grappling with an asset class where
Institutional investors are facing increasing government, regulatory, and member demand to invest sustainably. Sustainable investments were typically focussed on the environment and climate change mitigation strategies; but, although carbon-friendly assets are pivotal, investors are missing out on potential returns generated by other sustainable themes.
Opportunities presented by public policy in the Biden era. Within T. Rowe Price, our Public Policy Research team supports our analysts and portfolio managers through all stages of the investment process. We work closely with our environmental, social, and governance (ESG) team to
A year ago, as the COVID-19 pandemic was spreading around the world, we discussed how markets would react and the impact lockdowns would have on the global economy. The forecast was pretty accurate. However, helped by the efficacy of the vaccines and Fed stimulus, the recovery time frame has shortened and has brought with it an optimism which has caused markets to reflect this accelerated recovery.
Covid-19 index: when might life return to ‘normal’? As one of the world’s largest economies the US is a key focus for investors. With every country attempting to return to normality following the coronavirus pandemic, we are monitoring when US
While the markets reflect an optimism borne of nostalgic thinking and a reopening narrative, the global economy faces many structural challenges that demand reflection and attention to what is priced and the cost of misplaced …
Investors hoping that pent-up demand will fuel a sustained post-coronavirus economic recovery in Europe may end up disappointed. Although a backlog of demand has built up during the lockdown, its potency is likely to be reduced by …
The economy remains on pause in many parts of the world, but the vaccine rollout is improving the prospect of normalization and supports a positive medium-term outlook. In the meantime, global economies remain heavily supported …
With the advent of the Covid-19 pandemic, millions of office workers worldwide were forced to work from home (WFH) for the majority of 2020. With this massive shift in employee work practice, many forecasters are predicting a …
With economies looking towards a post-Covid world and concerns around inflation growing, we talk to the manager of the Global Focus strategy about what 2021 might have in store
Barometer: Laat de rally doorgaan April 2021 Ruime monetaire en fiscale stimulansen zouden de economie en de bedrijfswinsten een sterke duw in de rug moeten geven. Daarom blijven we de voorkeur geven aan cyclische aandelen. De wereldeconomie kent een sterke
Asian equities peaked twice in the first quarter amid optimism over the recovery in China, the prospect of improved relations between the new US administration and China, and the arrival of COVID-19 vaccines. Zhikai Chen, head of Asian equities, argues the outlook for much of the region remains positive, even after a valuation-related stumble.
Rembrandt’s masterpiece “The Night Watch” is the inspiration for a multidisciplinary research process at Capital Group. Everyone in the painting is looking in a different direction and it is this gathering of multiple perspectives that summarises our approach to gaining a deeper understanding of market disruptions, assessing the risks and evaluating the opportunities that arise during times of extreme crisis.
Valuations of risk assets have marked a pause in the face of a number of headwinds. In our view, valuations remain underpinned by ample central bank liquidity and the prospect, in the US, of further fiscal stimulus.
China’s success in quickly getting its economy back on track in the wake of the coronavirus will be studied closely by other regions hoping to achieve the same. The eurozone in particular, which faces the possibility of extended lockdowns as the European Union (EU) struggles with its …
6.45pm, 15 March 2021 – this is my appointment for a first dose of the Covid vaccine. I don’t want to give away my age, but by then approaching 25 million people will have received their first vaccine dose in the UK – close to half the adult population. I don’t know which vaccine I will get, but either way we are on our way. The grand reopening is coming.
When Covid-19 hit, many producers cut back production and drew down inventories as demand collapsed and the economic outlook was highly uncertain. While demand from cyclical end markets was hit hard, other end markets like …
The magnitude of change and disruption experienced around the globe in 2020 was remarkable on many levels. The coronavirus pandemic enveloped the world, prompting widespread upheaval to established patterns of conducting business, communication, travel, and the daily lives of people and communities. Amid the evolving …
Bad news on the health front; volatile economic data; hopes that the US national 4th of July holiday can be celebrated with a BBQ; and further lockdowns, in place or imminent, in Europe. This odd concoction on the anniversary of the Great Lockdown did not keep …
The economy remains on pause in many parts of the world, but the vaccine rollout improves the odds of normalization and supports a positive medium-term outlook. In the meantime, global economies remain supported by the large stimulus measures from …
We share the views of some of our portfolio managers and economists on navigating the equity and fixed income markets in the year ahead and beyond. They also share how the last year has influenced long-term developments in economic and market outlooks.
A year after the Covid-19 crisis struck, the US Congress approved the latest stimulus package, a massive $1.9 trillion plan representing 9% of GDP. It came only 3 months after a $900bn package was adopted.
Since our February update, the Return to Normal Index has ticked up only slightly (Figure 1). This is not surprising: large segments of the population are still not eligible to get a vaccination. But the good news is that Covid cases, hospitalisations and positivity rates continue to fall precipitously, and vaccine distribution is accelerating. Among the index subcomponents …
Webinar – Human: een gelukkig leven als beleggingsfocus Het is niet meer van deze tijd om van 9 tot 5 op kantoor te zitten en op je 65e met pensioen te gaan. De traditionele grenzen tussen de levensfases verdwijnen en
De kredietmarkt in opkomende landen heeft van nature een lagere blootstelling aan Covid-gevoelige sectoren (retail, luchtvaartmaatschappijen, horeca enz.) dan de ontwikkelde markten. Dat kan deels verklaren waarom het wanbetalingspercentage voor 2020 eindigde op 3,5 procent, ruim onder dat van de Amerikaanse high-yield …
Looking back over 2020 it was clearly an unusual year. The coronavirus pandemic and lockdowns have required considerable adaptation. The resilience and determination people have shown is remarkable.
Een jaar nadat de Covid-19-uitbraak wijdverspreide sociale en economische problemen veroorzaakte, komt Azië sterker uit de crisis en heeft het continent een grotere invloed op de wereld. Het economische zwaartepunt van de wereld verplaatst zich dan ook gestaag naar het …
By nature, the emerging credit market has lower exposure to Covidsensitive sectors (retail, airlines, hospitality, etc.) than its developed markets (DM) peers. This may partly explain why the 2020 default rate …
There is no shortage of challenges for long term investors. The strong performance of risk assets in 2020 has further compressed return expectations, and there exists ongoing concern about (i) how economies will emerge from the current crisis …
As one of the world’s largest economies the US is a key focus for investors. With every country attempting to return to normality following the coronavirus pandemic, we are monitoring when US economic activity might get back on track, as well as other measures of “normality” …
