Hoofdpunten De centrale banken bevestigen hun voorzichtige houding; dit jaar geen renteverhoging meer van de ‘Fed’ Zorgen over de handelsoorlog tussen VS en China zijn afgenomen, maar Europa is mogelijk het volgende doelwit van Trumps politiek Chinese stimuleringsmaatregelen lijken hun
Eaton Vance Monthly Market Monitor presents a concise review of economic and asset class data through clear and impactful charts. Providing timely information across a broad array of markets and investment topics, this guide serves as a helpful resource in
Key points Global equities continue to advance with year-to-date performance now running at 14.4%, supported by the strong growth and cyclical rally March witnessed fear return with the inversion of the US treasury yield curve. We examine previous episodes and
Global stocks wrapped up their best calendar quarter in over eight years in March, as the Federal Reserve halted its interest-rate increases, and expectations strengthened for a trade truce between the US and China. The STOXX® Global 1800 Index rose
Cross Asset Investment Strategy Risky assets have been in a very strong uptrend since the beginning of the year. The key question now is, where do we go from here? There are two main driving forces to focus on in
Research & Strategy Insights March macro data have been mixed in the US (manufacturing output contracting and surveys softening vs. elevated in services) and the Eurozone (disappointing Purchasing Managers indices and core inflation vs. more upbeat domestic surveys) In March,
The new year has brought with it a new wave of optimism, with equities and credit rallying strongly across the world. The sell-off in equities and credit in the final quarter of last year was caused predominantly by concerns about
Elga explains what our new tracker of developed market earnings is telling us, and why our view on earnings is gloomier than the markets. We have created a new tool for tracking developed market (DM) earnings. Our new earnings tracker
Our current risk assessment Moderate tone from the major central banks triggered a rebound following the heavy sell-off in December. Economic data remains weak, but is likely to stabilise as the year goes on We are not expecting a recession
Fixed Income Strategy Bonds are making a comeback. They have become a viable source of income, in our view, amid higher U.S. interest rates, a slowing but growing U.S. economy and a pause in the Federal Reserve’s tightening cycle. We
Commodity Monthly Monitor Following the reopening of the United States (US) Government after its shutdown, this report covers a period of three months. A lot has happened in that time frame. The market has been operating without data from both
A walk on the wild side Well, that was a wild ride: The worst December for the S&P 500 since 1931, followed by the best January since 1987 – all helped along by a sharp volte face from the Federal
Eaton Vance Monthly Market Monitor presents a concise review of economic and asset class data through clear and impactful charts. Providing timely information across a broad array of markets and investment topics, this guide serves as a helpful resource in
Research & Strategy Insights Amongst risk assets, credit markets have continued to enjoy a positive backdrop – and we believe this looks set to persist in the near term. We expect lagging Euro Investment Grade spreads to catch up, in
Monthly Investment Strategy Our probabilistic model sees rising risks but not an actual US recession over the coming 12 months. We reduce our US GDP growth forecast to 2.2% for 2019, further below the 2.5% consensus but still above potential
Global markets and multi-asset portfolios Events over the last few months have revealed similarities with 2016. In both cases, the Federal Reserve (Fed) turned dovish in the face of a slowdown in global growth and volatility in financial markets.
Market review Equity markets experienced welcome respite in January, after a torrid end to 2018. Both developed and emerging market equities gained over 7% in total return terms, boosted by signals from the US Federal Reserve (Fed) that it would
Aandelenbeleggers zien het glas weer halfvol; economische en politieke onzekerheid blijft Stemming op aandelenmarkten slaat compleet om; wij blijven neutraal De stemming onder beleggers is in nog geen twee maanden tijd 180 graden gedraaid. Waar zij in december nog een
Risk & Volatility Febuary 13
Investment Strategy Returns in January 2019 were diametrically opposed to those of December. The main asset classes posted positive returns because of a “Goldilocks” environment, characterised by the much more accommodative tone adopted by the Federal Reserve – with investors
Equity markets rebound We upgrade US equities and Asian highyield corporate bonds from neutral to overweight Valuations and underlying economic and corporate fundamentals remain in favour of risk assets, especially equities, in our view
The markets at a glance A marked weakening of cyclical and interest-rate-sensitive sectors has recently emerged. This trend has been noticeable in Europe, Japan and China for some months now. Now, it is also manifesting itself in the US, the
Equity market monthly review Global equities have swiftly recovered most of their 2018 losses, with the MSCI All Country World Index up 8% year to date. Of those S&P 500 companies that have reported earnings, 72% have beat earnings expectations
Macro Monthly Fed policy tightening was a headwind for risk assets in 2018, particularly as broader investor concerns about slowing global growth increased towards the end of the year In an important regime shift, the statement and press conference of
Last month the US shutdown came to an end after five weeks. The political turning point was triggered when the closure of a runway at LaGuardia airport (New York) due to a shortage of staff attracted broad media coverage. This
