As much of the global economy climbs out of the pandemic-induced downturn, investors are scrutinising every new economic data point for clues to the outlook for growth and inflation. I think they should also take the 30,000-foot view afforded by
We have sold Tesla from our Global Sustainable Equity portfolios, having held the shares since early 2019. This sale follows a downgrade in our internal sustainability ranking.
Active Ownership Report 2020: Welcome to our second annual Active Ownership Report, in which we report on our activities globally for the first time. The objective of this report is to inform our clients and other stakeholders of our stewardship
The re-opening of the world economy continues and economic activity has picked up substantially. However, the strength of the rebound in demand has caught firms by surprise and supply chains are stretched with the consequence that inflation has picked up.
China, Japan, technology, and value have potential to shape global markets in 2021 and beyond. T. Rowe Price Insights on International Equities: The rapid rise of China to the world’s second‑largest economy is widely observed. Yet, investors appear to underappreciate China’s
Deng Xiaoping is often considered the architect of modern China, having advocated a pragmatic approach to economic development and embraced the free-market system of western economies. However, many of the principles he endorsed have seemingly been turned on their …
Global Asset Allocation: The View From Europe Coming out of the Jackson Hole Economic Symposium, Federal Reserve Chairman Jerome Powell signalled that the Fed could begin to wind down its monthly bond buying by year-end, if the economy and coronavirus
Inflation? The debate about inflation has been hotting up. During the earnings season, many companies flagged up the fact that they were experiencing higher supply costs. In April, the latest US CPI print – a measure of inflation in the
It has been more than a year since COVID-19 was declared a global pandemic. The start-stop lockdowns that followed the first wave of the coronavirus outbreak made it particularly tough for many businesses and individuals to adapt.
The world’s largest organisation for the protection of nature – the International Union for the Conservation of Nature (IUCN) – holds its quadrennial gathering this week in Marseille. Rescheduled from 2020 due to the Covid-19 pandemic, the event is the
Monthly Investment Outlook: Global equity markets continued to climb in August while fixed income investors saw headwinds with rising risk-free yields joining volatile …
Global Sustainable Outcomes: There’s only one way to summarise Q2: a world divided. In North America and Europe economic recovery exceeded expectations as successful vaccination programmes supported market reopening. Here in the UK we emerged from a bleak winter of
Stocks rose for a seventh straight month during August amid ongoing optimism that the global economy continues to rebound from the COVID-19 slump and as the US Federal Reserve indicated it won’t rush to …
The headline numbers tell a fairly grim story. Global dividend payouts fell 12.1%1 in 2020 as the COVID-19 pandemic forced economies to shut down for a prolonged period. The economic inactivity prompted many companies to go into …
Recovery in the economy and real estate investment markets gathered pace in the second quarter, though the new Delta variant of the virus poses a threat. Real estate showed strong returns in the first half of the year, driven by
The textiles industry is one of the most pollutive in the world, emitting more CO2 than aviation and shipping combined. But a leading sports firm is showing one way the sector can embrace radical change. I love shopping for clothes
Global Asset Allocation: The View From Europe At the same time that China has taken steps to stabilise its slowing economy with measures such as a surprise reserve requirement ratio cut and pledge to increase fiscal support, policymakers …
From November 2020 to early May 2021, U.S. value stocks generated strong absolute and relative performance versus U.S. growth stocks, a trend also seen in global equity markets. However, the value rally has recently fizzled, and growth stocks have regained
Zelfs als China zijn regelgeving aanscherpt en het aantal Covid-19-besmettingen onaangenaam hoog blijft, zullen de aandelen waarschijnlijk niet lijden als het economische herstel zich doorzet. Voor beleggers is er dit jaar geen zomerpauze. De wereldeconomie blijft erop vooruitgaan ondanks de
Corporate profits continue to rebound at a tremendous pace and will comfortably exceed previous record levels this year. One year after the pandemic hit, we took a look at how our forecasts have changed. We expected an acceleration of existing
Monthly Investment Outlook: Global equity markets closed at the half year point higher, while global bonds fell as the Federal Reserve began to signal a pivot change – by potentially slowing the pace of its bond buying, i.e. ‘tapering’ –
An allocation to investment grade corporate bonds could offer compelling opportunities within a well-diversified portfolio. 2020 proved to be a volatile and unprecedented year for markets in many respects, not least in terms of the amount of stimulus provided by
House View Q3 2021: The global economy remains on track for a rapid and broad-based economic recovery from the Covid pandemic. Notwithstanding concerns around new variants of the virus, restrictions are generally being eased, as the vaccine roll-out progresses well,
Global Asset Allocation: The View From Europe Following a shaky start to its vaccine rollout, Europe appears to be recovering as businesses are reopening and lockdowns continue to ease in some areas. As the European Central Bank debates the extension
It is becoming clear that the post-Covid recovery will resynchronise in the second half of the year as economies reopen while vaccinations campaigns pick up speed, especially in continental Europe. Global trade is bouncing back at a faster-than-expected pace, resulting
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
A reawakening of the global economy — boosted by pentup demand and unprecedented government stimulus — has stoked investor fears of higher inflation. But those fears may be exaggerated amid ongoing weakness in the labour market and the slowing pace
Global Asset Allocation Views: High frequency data suggest that economic activity is surging, aggregate household balance sheets are in good health, and economic output in developed markets is expected to surpass pre-pandemic levels by 3Q21. The question, perhaps, might be
Inflation: a word that has sparked huge debate as well as rotation in the market. But is it temporary or permanent, helpful or harmful? One thing is clear: it has been rising around the world. With successful vaccine rollout programmes
Market weekly: Thanks to central bank largesse, corporate bond markets weathered the depth of the Covid crisis well. Risks to credit markets today appear low with gradually improving fundamentals, neutral central bank policy and no major supply-demand imbalances. Listen to
Global Asset Allocation – The View From Europe: The Federal Reserve has been consistent in its messaging that a near-term spike in inflation pressures will be transitory and recede once COVID-related impacts fade. The latest inflation print showed that prices,
Markets are worrying about rising inflation, but to date, there has been no evidence yet of ‘demand-pull’ inflation amplifying cost-push pressures, especially in Asia. There is also no sign of a global wage-price spiral. Nevertheless, we believe there are reasons
News surrounding the pandemic has steadily improved this month, with cases dropping sharply across the US and Europe, and retreating in India. As such, confidence in reopening timetables is increasing, with global growth expectations growing in tandem. More and more
Global Pension Finance Watch – First Quarter 2021: Rising global discount rates during Q1 2021 drove positive first quarter pension index results for all regions. Asset returns were mixed with Brazil, Canada, and the U.K. negative for the quarter which
Welcome to KraneShares' Mid-Year China Conference, Innovation: The Next Phase of China’s Secular Growth. We believe the next phase of secular growth within China will be driven by innovation in science and technology. Companies in industries such as the internet,
The economic recovery should broaden into a synchronised global upturn in the course of the second half of this year, favouring risky assets including commodities, equities generally and notably emerging market equities. An equity correction should be seen as a
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
Global Asset Allocation: The View From Europe A renewed surge in coronavirus cases across several emerging markets (EM) countries—including India, Brazil, and Argentina—is weighing heavily on these economies as they struggle with insufficient medical infrastructure and access to vaccines. In
In February 2018, Templeton Global Macro (TGM) released its original paper on the topic of environmental, social and governance (ESG) factors in sovereign fixed income investing. The paper (Global Macro Shifts—issue 9 [GMS-9]) explored the team’s novel approach to ESG
Global Asset Allocation: The View From Europe Equity markets are riding higher on unwavering optimism, which has driven the S&P 500 up over 20% above its pre-COVID-19 levels. Despite higher valuations, bouts of risk and pockets of froth in the
Strategic Sector Selector Global equity markets posted strong returns in 2021 Q1 after a double-digit rise in the final quarter of last year despite a renewed rise in infection rates in Europe, South Asia and South America. We think the
Just as the sudden shutdown of much of the global economy at the onset of the coronavirus pandemic in 2020 was unprecedented, the expected recovery in 2021 is likely to be unique. Developed market central banks seem determined to maintain …
Welcome to EQuilibrium — This new, annual global research explores the drivers of investor behavior and their impact on people, portfolios and problem-solving, with a particular focus on alternatives, responsible investing and the human side of asset management. We also look at the beliefs, mindsets and …
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
President Joe Biden signed the $1.9tn American Recovery Plan into law this month, adding to the $0.9tn stimulus in late 2020. Debate is turning to the next bill on longer-term infrastructure, clean infrastructure and inequality measures …
Rising global bond yields and interest rate volatility have been dominant themes in fixed income markets so far this year. In our latest investment team meetings, we discussed how likely these trends are to continue—and the potential implications for bond markets and central bank policies if they do.
Growth, employment, consumption, renewable energy…These are all indicators that reflect the rapid rise of the ‘blue economy’ and its growing contribution to business and industry, better living standards and the development of a more responsible global economy.
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 strategy maintains a focus on companies that we believe offer a positive impact today and an underappreciated impact in the future, as well as sustainability and robustness in their future earnings and cash flow growth. And our fundamental research platform and dedicated Responsible Investing (RI) team—which is focused on environmental, social, and governance (ESG) issues— provide …
The global economy runs on energy and, by and large, energy still requires greenhouse gas emissions. Energy efficiency can reduce demand; renewables are driving down the cost of carbonfree energy and can be coupled with storage or …
