July/August 2021 CROSS ASSET Investment Strategy
Waters appear calm, but there are strong undercurrents. Large economies are at different stages of their journey towards peak acceleration, but rising…
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Tag "Outlook"
Things are so good that it’s time for a break
A buoyant economic recovery, record stock markets and calm bond markets. Things have been going all too well and the next surprises are unlikely to be positive. Global economic growth is slightly up, so are equity price targets, though, we see
Why we think it’s too early to be cautious on equities
Value stocks outperformed momentum by almost 30% in November, but then gave back a third of this by the beginning of 2021 (Figure 1). Is the Georgia vote and Democrat win in the Senate the catalyst that reverses this? US investors did not think Senate control would switch to the Democrats, yet former president Donald Trump alienated centrist votes with allegations of stolen …
Why we think it’s too early to be cautious on equities
Why we think it’s too early to be cautious on equities Macro outlook | February 2021 Value stocks outperformed momentum by almost 30% in November, but then gave back a third of this by the beginning of 2021 (Figure 1).
Improving fundamentals are likely to be sustained
China Market Outlook 2021 Thanks to its rapid control of the coronavirus, China is the only major economy that is expected to post positive economic growth this year, according to the Organization for Economic Cooperation and Development, which recently raised
Seizing the new reality
Outlook 2021 Fidelity International’s outlook for the global economy, multi asset, equities, fixed income and real estate If you are reading this, then you’ve lived through one of the most volatile periods in market history. The year to come may
Legacy of the Lockdowns – Outlook
In our 2021 Investment Outlook, we seek to help investors navigate the next phases of the pandemic, the legacy of the lockdowns, and the ensuing economic recovery. We also consider how solutions to the climate crisis can be found at
CIO outlook: Time for Healing Q4 2020
After contending with the terrible human and economic toll of a pandemic, as well as market volatility reminiscent of the financial crisis, investors could well be forgiven for wondering anxiously: what could 2021 possibly have in store for us?
2021 Investment Outlook
"Marked by the most severe recession in modern history, 2020 was an unprecedented year. With the global pandemic continuing, we enter 2021 with a mildly positive outlook for the upcoming recovery, but with the assumption that the path to pre-crisis
Interest rates, Japanese equities and US elections in this Week’s Top Five
#34 The holidays are coming to an end and you might have to catch up on research. Hereby a quick overview of the best read research on OpinioPro this last week. A variety of topics is addressed – you can
Asset allocation outlook
In June, investors were confronted with the conflicting impact of an improved outlook and a sharp increase in the number of new coronavirus cases around the world. Optimism prevailed in the end; the …
Q3 Outlook: Optimism versus reality
We believe there is a striking disconnect between market pricing and the real economy, especially with regard to expected company earnings. In the past three months, risk assets have pulled back from the brink of collapse, as policy makers hosed
Long-term Perspectives & Consequences for the Dutch Pension Sector
#25 + 26 This blogpost will cover the top five of the past two weeks. But first, let’s highlight a few webinars! Tuesday next week J.P. Morgan AM will host a mid-year outlook ‘How will the recovery take place?‘. The
2020 Midyear Equities Outlook: Getting Back on Track
Equity markets experienced the sharpest drop since the global nancial crisis amid shuttered businesses, decimated consumer condence, and unprecedented uncertainties about the outlook. Markets were “disrupted but not derailed,” due to swift actions from governments and the major central banks,
How to Invest in Dividend Equities Now
Point of View Companies globally are slashing dividend payments as they face a combination of declining revenues and regulatory measures discouraging dividend payments. Not surprisingly, companies are now prioritizing …
Excessive pessimism?
Global Market Outlook Volatility illustrates value of diversified allocations As of 27 February, global equities were down -7.5% since the start of 2020 while Corporate and EM bonds returned 1.1% and 1.7% respectively, as lower US Treasury yields led prices
One virus doesn’t make a winter
Investors’ Outlook Like an unexpected disease befalling Venice in Thomas Mann’s famous novella1 , a hitherto unknown coronavirus has engulfed Europe seemingly out of the blue. What could illustrate our fears better than the Adriatic town’s cancellation of part of
Market Compass
Due to the global spreading of the Covid-19, fears for economic activity increase. The data released this month will provide a first assessment of the damages. The Fed has already cut rate and Central banks will follow also providing liquidity
COVID-19: Uncharted Waters for the Economy and Markets
QMA’s Global Multi-Asset Solutions Group The rapid spread of the coronavirus has triggered a global health crisis, rocked global financial markets, and caused a sudden stop in the global …
Alliance Bernstein – Webinar – Concentrated Equities, live
Webinar – Concentrated Equities, live Please join us live, for a 20 minute equity market update with AB’s CIO – Concentrated Global Growth, Mark Phelps. Mark will provide a brief equity market update, discussing the impact of the coronavirus and
Viewpoint from Financial Partners
Market commentary As the year began, so it ended, with yet another strong month for risk assets in December, capping one of the best years for markets since the financial crisis. Equities again led the charge, but leadership for once
From TINA to FOMO
What happens after a mid-cycle slow down? Once again, the most likely answer in the current extended cycle appears to be "yet another moderate upswing." In 2020, we expect about 5% in total returns for global equities. And lest that
Reduced Recession Risk
Investment Perspective The short-term drivers of market performance are not always clear, but an improving outlook toward economic growth seems to be a clear contributor to the recent rally in equities. At the same time, a rapidly slowing manufacturing sector
An improving outlook
Global Market Outlook (In-brief) An improving outlook • We retain a constructive view on risk assets (equities and credit) and multiasset income strategies, especially over the next 3-6 months. • Within equities, we have a preference for Developed Markets. The
Market GPS – Equities Outlook 2020
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
Capital Markets View: Global Edition Q4 2019
Corporate earnings expectations have continued to fade as the impact of a global growth slowdown and related trade frictions take hold at the company level. Trade tensions between the United States and China remain elevated though negotiations aimed at reaching
Cutting Through the Noise with Selectivity
The extended length of the current economic cycle obscures the many mini-cycles in industrial and consumer sectors – early identification of these periods can provide the potential for meaningful alpha opportunities. Companies that embrace digitalization, data capture and the use
Global Equities: Heading Toward A Macroeconomic Crossroad
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
Our monthly market analysis and positioning
October has been dominated by big political misses. But central banks have once again set the tone for capital markets, pushing them to new highs. October was all about talk of deals and crucial dead-lines. What happened? The deals got
Market Insights Q4 2019 Outlook – Gathering clouds
We turn cautious on global equities on a tactical and medium-term view, as US stocks flirt with record highs even though risks to the world economy are mounting. In our last quarterly note, we pointed out that investors faced a
Keep a cautious stance in risk assets amid lack of visibility on future earnings growth
Bad but not so bad news left the market in a limbo: equity markets were more or less flat in the month, treasury yields remained in the 1.5 / 1.8 range and credit spreads also remained within the trading range
Expect a tougher climb
Global Investment Committee Outlook Time for more defense Nuveen’s investment theme in 2019 has been Expect a tougher climb. A straightforward declaration, but one with nuance and range: For the first half of the year, the emphasis was still on
Investors’ Outlook
In rough seas, the ship needs to stay the course Viewpoints – Why now could be the time to buy the dip in euro corporate bonds Equities – Investors flee to safety as the economic giants battle it out Focus
SEB House View
Global equities are in our view discounting a too positive economic scenario We maintain our base case scenario that global growth will accelerate in Q3 due to the fiscal and monetary stimulus launched by China and due to base effects
Market Insights Q2 2019 – Outlook Remaining Bullish as the cycle goes on
Three months ago, following a brutal period for equities, we noted that investors were likely to be rewarded by “being fearful when others are greedy – and greedy when others are fearful”. Spectacular returns over the first quarter demonstrated the
More troubles ahead
Big gains so far this year and continuing trade conflicts limit the near-time upside in equity markets. The combination of the year-to-date rally and deteriorating prospects of a trade deal make the near-term risk-reward for equities unattractive. In the near
Still some juice left, but not much
Equity markets have remained buoyant in recent weeks: the S&P 500 is trending towards an all-time high, the European equity market (STOXX 600) is close to last year’s peak and the performances of emerging markets have also been very strong.
Perspectives Global Equities – Q1 2019
Economy and markets The start of the year saw most major indices recover with double digit growth after a disappointing fourth quarter of 2018. Global equities rose 12.6% during the first quarter of 2019, as measured by the benchmark MSCI
Global Investment View
Still some juice left, but not much Equity markets have remained buoyant in recent weeks: the S&P 500 is trending towards an all-time high, the European equity market (STOXX 600) is close to last year’s peak and the performances of
Equity Outlook
How resilient is the rebound? The start of 2019 brought a rebound for global equities. After a bruising fourth-quarter sell-off, stocks bounced back despite concerns over slowing economic growth and downward earnings revisions. The Federal Reserve’s decision to put rate
This time it’s different
Fundamental Equities Outlook Since the beginning of the year, global equity markets have staged a swift comeback, turning around the dismal performance of the final quarter of 2018. Year-to-date, the MSCI World is up almost 16% in US dollar terms
Global Equity Views 2Q 2019
Themes and implications from the Global Equity Investors Quarterly After a rip-roaring recovery from the miserable end to last year, it is easy to think of reasons to take a more cautious view of the prospects for world equity markets.
Truths and the Future of Active Equity Investing
Use of index strategies has increased in recent years, but institutional investors globally say that has not diminished the importance of active equity strategies in their portfolios. A survey and interview program with more than 200 institutional investment decision makers
Equity Outlook – PGIM
The upside of the downturn Equity investors worldwide greeted the new year with an array of heightened concerns. A difficult fourth quarter brought volatility and annual losses for many major indexes. Among the issues that contributed to the downturn were
Barometer: Happy new year?
The global economy is cooling. Concerns about a full-blown trade war between the US and China have led to a significant deterioration in business confidence and economic activity, particularly in the developed world. It's not all doom and gloom, though.
Global Equity Views 1Q 2019
Themes and implications from the Global Equity Investors Quarterly After a year of weak returns and an environment in which traditional style factors underperformed, many of our investors now see an above-average level of opportunity across areas of global stock
The Global Investment Outlook
Global economy decelerates as headwinds mount and tailwinds fade After enjoying solid and accelerating global growth in 2017 and the first half of 2018, momentum has waned and we expect this trend to continue into 2019. Financial conditions have worsened
The Global Investment Outlook
Global economy decelerates as headwinds mount and tailwinds fade After enjoying solid and accelerating global growth in 2017 and the first half of 2018, momentum has waned and we expect this trend to continue into 2019. Financial conditions have worsened
Distortion, divergence and diversification
Global Investment Outlook The global economy holds the potential to maintain solid momentum in 2019, in our view, underpinned by the strength of US fundamentals and demand. Volatility returned to global financial markets in 2018 as the narrative around synchronized
Long-term perspective on markets and economies Long-term perspective on markets and economies
If you are feeling particularly uncertain about investing heading into 2019, you’re not alone. With major economies entering late-cycle territory, volatility rising, monetary policy tightening and a trade war brewing, you may be wondering how to position your portfolio. This
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