Allocation views The global economy continues to face headwinds, and risks are mounting. Trade tensions are spreading from country to country, and increasingly, manufacturing weakness is starting to infect the much larger service sector. Recurring equity market declines appear likely
Summary Global Economic Outlook: We expect real economic growth in the developed economies to continue to moderate over the next decade, as it has for the last 30 years. This is due to limited growth of the developed labor force,
Global Asset Allocation Down But Not Out After 21 months of slowing global growth, we are starting to see signs of stabilization, signaled by a potential bottoming in the industrial economy. The J.P. Morgan Global Manufacturing PMI ticked up in
Global Outlook Asset allocation While economic data suggest that the weak global growth backdrop will persist into 2020, investor sentiment has turned more constructive, supporting rising stock markets and bond yields. We remain skeptical on the prospect of a meaningful
Summary – Equities, and other risk assets, continues to price in a more positive economic outlook than the one which we are foreseeing The stabilization which we have seen in tactical macro data over October is in our view not
REITs outperformed equities and bonds. Renewed concerns over trade and decelerating global economic data favored defensives despite large swings between risk on/off during the quarter. Lower volatility stocks extended their outperformance from the previous quarter, reflecting continued investor caution.
Executive Summary Through our research, FCLTGlobal aims to identify the key determinants of long-term success for companies and investors around the world. We then use this knowledge to encourage long-term behaviors across capital markets. This paper focuses on predictors of
Global equity markets delivered a roller-coaster ride for investors over the past year as worries about trade disputes and slowing economic growth escalated. Even so, equities continued to deliver large gains. By late October, the S&P 500 ® Index hit
The technological revolution has led to a heightened level of disruption across every industry. Against this backdrop, where can you find firms that deliver sustainable and growing dividend streams? The Global Equity Income team continues to find plenty of attractively
Thematic equity investing focuses on markets that are growing faster than the broader global economy due to a range of long-term, secular growth drivers. It seeks out businesses that will be at the forefront of long-term growth themes – Safety,
The global economy is approaching a crossroad and we are looking to see how policy makers respond, in particular Chinese authorities and the U.S. Federal Reserve (Fed). In our view, the most powerful responses would be a U.S.-China trade deal
Year-to-date, Swiss and Global equity funds continue to deliver strong absolute and relative performances, ranking in the top quartile versus their peer groups. Despite short-lived sector/style rotations into oversold value names, the ytd performance of the MSCI AC World reached
Year-to-date, Swiss and Global equity funds continue to deliver strong absolute and relative performances, ranking in the top quartile versus their peer groups. Despite short-lived sector/style rotations into oversold value names, the ytd performance of the MSCI AC World reached
Global Economic Outlook After several quarters of gridlock, it would appear progress is finally being made on key issues clouding the global economic outlook. The U.S. and China are inching closer to signing “phase one” of a trade deal by
Market Outlook – One fourth of Investment Grade (IG) bonds have now negative yields; this radically alters portfolio considerations. The threshold for switching away from risky assets is higher than it used to be. – A global recession is not
Market Insights As of September 30, 2019 OCTOBER 2019 Easy Money, Again The dovish shift of monetary policy this year has been dramatic as negative trade headwinds and geopolitical uncertainty are weighing on growth. So far, 21 central banks have
Global Liquidity In September, equity markets were supported by further monetary stimulus around the world. The Federal Reserve carried out its second rate cut last month, while the ECB announced a new open-ended asset purchase programme starting in November. On
Persistent trade tensions and rising geopolitical risks are taking their toll on the global economy. Indeed, Germany appears close to recession. But this is due to its high exposure to manufacturing, which has been the main victim of the ongoing
Eurozone business confidence stabilised in October according to preliminary data. The Markit PMI for manufacturing was unchanged at 45.7. Still nothing to write home about, of course, but it could have been worse. PMI data have not been released for
Join CFA Sociey VBA Netherlands and experts from CME Group for an in-depth workshop on: The role of energy and metals in an investment portfolio The outlook on risk and return of commodity markets can form the basis of portfolio construction.
In light of the persistent low growth, muted inflation, additional central bank stimulus and sharply decreased interest rates, we revised our long-term global outlook for economic growth, interest rates and equity returns downwards. As a result, in our scenarios it
U.S. stocks have outperformed non-U.S. markets for the last decade, resulting in extended valuations for U.S. companies at a time when earnings are near a cyclical peak. This recent outperformance of U.S. equities and their current valuation premia are anomalous
UK Prime Minister Boris Johnson reached a deal with the EU on Brexit. The deal takes the ‘backstop’ out of the equation, but puts an economic border in the Irish Sea. At the time of writing European leaders still have
Contagion may be spreading through the global economy The global economy continues to face headwinds, and risks are mounting. Trade tensions are spreading from country to country, and increasingly, manufacturing weakness is starting to infect the much larger service sector.
Ten years ago, the Credit Suisse Research Institute launched the first Global wealth report providing the most comprehensive and up-todate survey of household wealth. Since then the Global wealth report has become the standard reference point to monitor wealth growth
Our conference #UBPInvestmentOutlook had a full house in London last week! Our experts shared their 2020 outlook for the global economy and more specifically for the UK. Thank you all for coming!
Zal zijn laatste woorden aan mij nooit vergeten. Over woorden gesproken: toen ik Volcker de eerste keer ontmoette, was zijn eerste vraag:"Hoe is het met Andre Szász?" Ik had 15 minuten met hem. Het werd 1,5 uur! Er was een klik. RIP
De Asset Allocatie Awards komen er weer aan! Nominaties komen deze week, winnaars op 4 februari 2020... Hier een sfeer inpressie van vorig jaar -> https://t.co/c36HWpyGVx
