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
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.
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
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
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.
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
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
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
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
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
Finding Select Opportunities in a Durable Cycle There is more in common across all equity markets today than it might seem. In 2018, index returns were widely dispersed, with the S&P 500 outperforming while the MSCI Emerging Markets underperformed sharply.
Finding Select Opportunities in a Durable Cycle There is more in common across all equity markets today than it might seem. In 2018, index returns were widely dispersed, with the S&P 500 outperforming while the MSCI Emerging Markets underperformed sharply.
The heat is on for tech stocks amid U.S.-China cold war The U.S. and China are the two global leaders in technology, and the tech sector is the largest constituent in both countries’ stock markets. Deteriorating relations between the two
The heat is on for tech stocks amid U.S.-China cold war The U.S. and China are the two global leaders in technology, and the tech sector is the largest constituent in both countries’ stock markets. Deteriorating relations between the two
Equity Outlook Q4 2018 While most world markets advanced in the third quarter, U.S. stocks saw their biggest quarterly gain in nearly five years, boosted by rising wages, low unemployment, continued economic growth, and positive investor sentiment despite an escalating
The essential After two years of strong earnings momentum, EPS growth is expected to decline considerably from 2019. Between global growth reaching its climax, the fading impact of US tax reform, the declining contribution of oil and commodities and the
Investment Strategy House Views A lot has happened since the summer. Investors have been forced to digest a sequence of complex news about emerging markets, trade tensions, Brexit, the Fed, China, as well as earnings and economic data. There has
Buyer beware: Shop around for consumer stocks Economic growth is humming and consumer confidence in the U.S. and Europe is at its highest level since the global financial crisis. Good news for consumer stocks? Not entirely. Large portions of the
Buyer beware: Shop around for consumer stocks Economic growth is humming and consumer confidence in the U.S. and Europe is at its highest level since the global financial crisis. Good news for consumer stocks? Not entirely. Large portions of the
Emerging markets insights The left-wing coalition headed by Andrés Manuel López Obrador (AMLO) won by a landslide in Mexico’s general election. We do not expect a radical change in terms of Mexico’s fiscal or central bank policy as a result
Executive Summary Emerging markets equities declined in the first half of the year owing to concerns of rising trade tensions, growing political risks particularly in Latin America, a potentially aggressive pace of rate hikes indicated by the U.S. Fed and
Buybacks and M&A may fuel equities, but trade conflict is a key risk Stock buybacks, vast sums raised by private equity investing, and robust corporate M&A activity could all lend support to equities. The current trade conflict, particularly U.S. tariffs
Investment Strategy In our July commentary we made reference to the mid to late 1990s in the context of the length of the economic expansion at that time, the peaking of US earnings growth in early 1995 and the extraordinary
Investment Strategy In our July commentary we made reference to the mid to late 1990s in the context of the length of the economic expansion at that time, the peaking of US earnings growth in early 1995 and the extraordinary
