Als het om pensioenen gaat, is de rente allesbepalend. Wat gebeurt er op rentegebied, wat te doen bij stijgende/dalende rentes, hoe zit het met de reële rente en wat zijn de laatste inzichten op gebied van matching en vastrentende beleggingen?
Emerging market bonds shrugged off recent trade warrelated concerns to strengthen in June. Local currency bonds, measured by the JP Morgan GBI-EM Global Diversified Index, returned 5.5% during the month, outperforming hard currency bonds, measured by the JPMorgan EMBI index,
In addition to renewed trade tensions between the US and China, political tensions, especially in Asia, have risen – China vs. Hong Kong, Japan vs. South Korea, India vs. Kashmir – triggering a rise in risk aversion for emerging assets.
Investors are seeking to capture the historical benefits of factors within their U.S. allocations so why not internationally? Investors have flocked to single factor ETFs with $90 BN in flows over the past 10 years. However, when dissecting these flows
A research study looking at structural shifts in the global economy and how they affect our investment thinking. A confluence of global megatrends is prompting structural shifts in many industries and changing the drivers of corporate earnings. Most major economies
Multi Asset Monthly With the US threatening to increase tariffs on an additional USD 100 billion of Chinese imports from 1 September, there is a considerable risk that this increased uncertainty will dampen business confidence and capex spending. To the
Rick Rieder and Russ Brownback highlight the investment themes that they think will drive markets and dominate debate within the investment community over the next several months and beyond. Over recent weeks, we have been vocal about five “big themes”
We see the dovish pivot by global central banks supporting the economic expansion and risk assets, with rising protectionism the key risk. Elga explains. The Fed confirmed global central banks’ dovish pivot last week, as it cut rates for the
As the U.S.-China trade war enters into a more serious phase, many investors may wish they had never heard of Emerging Market (EM) equities. Even before the U.S. decision to boost tariffs to 25% on $200 billion of Chinese goods,
Given the volatility in emerging markets in 2018 and the impact it had on long‑term relative performance, it is somewhat understandable that institutional investor exposure to the asset class is near multiyear lows. However, emerging markets have evolved and changed
Historical analysis shows that core emerging market (EM) strategies had a significant and persistent historical drift into growth style investing. This is despite the fact that EM value has outperformed EM growth over several extended periods during the previous 15
After an exceptionally strong start to the year, financial markets paused for breath in July, with most asset classes delivering muted returns. The Federal Reserve (the Fed) lowered US interest rates for the first time in 11 years, and the
Rick Rieder argues that anemic growth in Europe is a longstanding problem that today requires a bold solution. Institutionally, the ECB can offer potentially effective, if unconventional, help. A shorter version of this commentary appeared in the Financial Times on
Principal investment officer for the Capital Group New World strategy, Nick Grace, reflects on the changing landscape of emerging markets and how the strategy is positioned to capture these opportunities. The New World strategy was launched in 1999 – how
The US economic slowdown remains modest – the world’s largest economy looks set to avoid a recession in the next 12 months, thanks to the Fed’s monetary easing Eurozone macro data and easing in the US, should lead the ECB
Mike explains why we have decided to upgrade our call on European assets, from equities to government bonds. We see the European Central Bank (ECB) shifting decisively dovish in coming months, against the backdrop of stabilizing growth outlook and persistent
KEY POINTS We believe: – Economic development is generating four forces of structural change across emerging markets (EMs): greater inclusiveness, enhanced productivity, improved living standards and better sustainability. – Countries that make progress towards economic development offer more fertile environments for
Perspective from Franklin Templeton Multi-Asset Solutions Divergence extends, raising concerns When we wrote about our Allocation Views last month, we were concerned about expectations that showed a notable divergence between financial markets. Heightening these concerns was a further rally in
A dovish pivot by global central banks should extend the length of this economic cycle, supporting our upgrade to emerging market debt. Scott explains. Central banks are shifting toward monetary easing, as they aim to cushion a global slowdown sparked
Weekly Bond Bulletin 11 July 2019 A relatively benign G20 summit and expectations for easier financial conditions ahead have boosted demand for emerging market debt. However, areas of value can still be found. Fundamentals: The growth trajectory of emerging markets
Can equity markets continue to deliver in the third quarter? Tony DeSpirito sees reason to believe stocks can grind higher and reflects on three wildcards to watch. Proceed with caution, but by all means … proceed. This was the overarching
As the second half kicks off, we advocate taking a modestly more defensive stance while still favoring risk assets with attractive risk/reward ratios. Mike explains, sharing three investing ideas. One change to our 2019 investment outlook as the second half
In brief During China’s years of transformational growth, returns available to foreign investors were less than impressive, but the possibilities are expanding dramatically in both public and private equity. We believe active investing opportunities that tap into important long-term growth
We have refreshed our investment themes and market views in our 2019 midyear global investment outlook. BlackRock Chief Global Investment Strategist Mike Pyle shares a summary. We see challenging crosscurrents ahead. Macro uncertainty is rising amid geopolitical frictions, and asset
Kijken we tien jaar vooruit, dan is de grootste groei te verwachten in het oosten. Vooral China wordt een factor van betekenis, nog belangrijker dan het land nu al is. Voor indexbouwer MSCI is deze ontwikkeling aanleiding om de weging van Chinese A-aandelen
