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
Big markets have a special allure for investors. They offer the promise of another Apple, Google, or Microsoft. But big markets also bring with them the threat of what Cornell and Damodaran (2020) call “the big market delusion.” Big market delusions generally begin with …
OpinioPro readers found the BNP Paribas AM article the most interesting this week. The article discusses how the switch of many economies ‘’from a depletive to a sustainable model created a wide range of investment opportunities in many areas including water’’. The three main water-related investing …
Sector Compass: Light Sector Compass Reopening, Recovery and Rotation The sector rotation seen in flows and performance in the last two months of 2020 could continue given many investors still hold cash and are underweight the more risky areas. While
Financial sector headlines are often dominated by banks and insurers. But there is one area that has emerged as a steady grower and dividend payer: financial exchanges. Exchanges’ gains contrast against steep declines in the broader financials sector, where traditional banks in particular have grappled with ultra-low rates and a slowing global economy. Over the …
"After all, it is difficult to determine which election outcome the market had priced in, when and with what probability. "
Investment Insights Key takeaways Capital Group has always considered ESG factors in our research and analysis We have systematically integrated ESG factors through sector-specific research frameworks We believe a heightened focus on ESG will help us deliver better outcomes for
High dispersion of returns between sectors has continued to offer significant opportunity for investors. We believe a selective approach remains the preferred path during Q4 2020 as uncertainty mounts around the US election, COVID-19 and regional challenges such as Brexit,
De publicatie van de 2e kwartaalcijfers van banken is in volle gang. Een spannende periode. Deze cijfers gaan ons namelijk meer inzicht geven in de impact van de Corona crisis op de bankensector als geheel en de individuele banken daarbinnen.
Key points: In the current environment, travel is negatively impacted as friction costs have increased, and the risk/reward balance has changed. This environment will not last forever. Attractive investment opportunities remain available in companies that can get through the current
Research on sector rotation, which is a popular tactical asset allocation technique, often centres on using price momentum as the sole criterion to identify outperforming sectors. The aim here …
Een oproep aan de sector op basis van onderzoek bij banken, verzekeraars en financieel dienstverleners Financiële ondernemingen zijn wettelijke verplicht een beheerst beloningsbeleid te voeren. Hiervoor moeten zij onder meer financiële en niet-financiële risico’s inventariseren die gepaard gaan met het
Webinar – The future of the travel & leisure sector: the analyst view From the oil shock to the development of COVID treatments, we‘ll go deep on key industries and sectors to find out how they may fare through the
Webinar – Long-Term Equity Investing in Volatile Markets Join Alex Morozov, Morningstar’s Head of the European Equity research team, as he provides broad assessment of equities’ long-term attractiveness in a highly uncertain world as well as an overview of Morningstar
From lighter, longer-lasting batteries to a new breed of semiconductors, there are a host of investible technologies powering the electric car revolution.
In the wake of first-quarter reporting season, the consensus is probably still too optimistic At -12% for the S&P 500 in the US and -35% for the Stoxx 600 in Europe, firstquarter results were hit hard by the pandemic, even
Webinar – The future of the technology sector: the analyst view From the oil shock to the development of COVID treatments, we‘ll go deep on key industries and sectors to find out how they may fare through the crisis –
Investment Insights SARS-nCoV2, the novel virus that causes the COVID-19 disease, is a novel pathogen that’s never before seen in humans. We have so far seen over 3.6 million known cases worldwide, with over 258,000 deaths. It is a highly
This is not the bear market we were expecting to end the cyclical uptrend in equities and definitely not the first quarter we envisaged when we wrote our previous edition. Our job is made more difficult by the uncertainty surrounding
Many of the companies within the Digital Economy have been well placed to assist with the challenges presented by government enforced policies of Stay at Home and Work from Home during the spread of the COVID-19 pandemic. However, this is
Developed international stocks have seen a wide dispersion of returns over the trailing five-year period, with six of eleven sectors posting negative returns. Looking ahead, we believe investors should consider using active management to help navigate the international equity landscape
As many companies plunge into the financial unknown, the tech giants could emerge stronger than ever. While many businesses struggle to survive under the global lockdown, the largest technology companies remain afloat and in some cases are even thriving. Microsoft
Europese aandelen: moeilijke maand De Europese aandelen beleefden een moeilijke maand. Hoewel ze sterk begonnen en de zorgen over het coronavirus van zich af schudden, zorgde het stijgende aantal gevallen buiten China voor een forse koersdaling eind februari. Door de
The fourth quarter ended on a high note with US equities marching to new record highs. It closed a year where the narrative mostly had been pessimistic. Uncertainties around trade tensions, Brexit, political drama and recession fears have dominated. The
– As the trade war related uncertainty has faded we expect an inventory driven rebound in global growth over the coming 3-6 months Despite, in isolation, high valuations on all asset classes we expect this will be enough to fuel
The S&P 500 remains a broad equity index, but its sector mix has changed As the S&P 500 sets new record highs this month – led by tech reaching new highs, while energy revisits 2016 lows – we decided to reexamine
Asset Allocation update What a difference a year makes. After a bruising 2018, last year allowed investors to capture the second-best return on a blend of global equities and long-dated bonds in 30 years. For stocks it was also a year of
Asset allocatie: vertraging bestrijden Beleidsmakers hebben tot nu toe een forse wereldwijde economische vertraging succesvol weten te voorkomen. De Amerikaanse Federal Reserve en de Europese Centrale Bank hebben de monetaire kraan geopend, terwijl sommige regeringen in opkomende landen fiscale stimuleringsmaatregelen hebben genomen, een voorbeeld
Weekly Investment Commentary The world and market attention last week was focused on the U.S. strike against Iran and mounting tensions in the Middle East. Yet markets largely looked past geopolitical risks and started 2020 on a strong note.1 For
The era of micro cycles and disruption is set to continue in 2020. Equity markets continue to fascinate and surprise, with the one constant being a backdrop of uncertainty, driven by a cycle that keeps defying “the rules.” Expectations of reflation and recovery, spurred on by
Equity markets in 2020: Watch out for a value rotation Indicators derived from monthly surveys of senior executives at selected companies that help in identifying economic trends. Growth investment style – It aims at investing in the growth potential of a
Focal Point We introduce our proprietary equity valuation tool which provides indications of over- or undervaluation for different sectors and styles of European equities. The regression-based models use macro and financial variables to provide fair value estimates of the ratio between
Despite slowing growth in the Eurozone, prolonged uncertainty over Britain's exit from the E.U., and global trade conflicts, European equities can look back on their best year since 2009; the benchmark S&P Europe 350 rose 2% this month to complete 2019 with a
Het klimaat op financiële markten verbetert doordat centrale banken de liquiditeitskraan opendraaien en omdat de handelsoorlog niet verder oplaait. Aandelen naar neutraal, maar liquiditeiten blijven favoriet Er breekt een waterig zonnetje door op financiële markten. Dat is voor een groot deel te danken
The dollar's bull run should come to an end, weighing on US equities. Emerging market debt, European equities and value stocks have the potential to outperform. Tread carefully. The path to strong investment returns in 2020 won't be a smooth
Summary European equities rose this month, for once without any new stimulus from central banks. Instead, improving economic data saw both stock prices and bond yields rise. The S&P Europe 350 gained 3%, keeping it on track for its best year since 2009.
Remind Me About 5G Communications Services was the largest change in sector classification late last year. The higher profile US sector stole the headlines, courtesy of several FAANG companies. The changes made by MSCI in their European Communications index, on
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
Het Global Life Sciences-team richt zich op innovaties, waaronder oplossingen voor de behandeling van hart- en vaatziekten, kanker en diabetes. Hartziekten veroorzaken bijvoorbeeld 17,9 miljoen sterfgevallen per jaar en kostten de wereld in 2010 voor $863 miljard aan zorg. Dat
When Dr. Ziad Bakri is researching an investment idea within the biotech industry and the mounds of financial data on his desk don’t reflect what he believes comprises the entire story, the portfolio manager of the T. Rowe Price Health
For decades, dividends have largely been associated with companies from more mature areas of the market such as utilities or telecommunications. Meanwhile, technology has long remained an afterthought. But what happens when tech grows up? Areas of the sector are
Preferred Sectors: Health Care, Technology and Consumer
Economic indicators may have deteriorated, but equity markets in the US and Europe have not moved a great deal in the third quarter, despite some volatility in August. We are none the wiser as to whether we are in a
The world’s biggest telecommunications companies spent hundreds of billions of U.S. dollars to build the pipes that undergird the internet, yet they weren’t the big winners. Instead, the giants of search, social media, and streaming media have garnered most of
Preferred Sectors: Health Care, Technology and Consumer
By protecting intellectual property rights, patents act as a safeguard for the economic interests of inventors and give them incentive to innovate. The innovations that they were designed to protect are a driving force of technological and social change. From
Leveraged finance markets continue to provide active managers with compelling opportunities to generate alpha. Here, we offer our views on how to use security selection and sector allocations to enhance a portfolio’s outperformance potential, while defending against the risks ahead.
US and European equity markets continued upward during the second quarter of 2019, albeit at a more moderate pace. Expectations of monetary easing by major central banks provided a short-term boost but leaves us with little visibility of what comes
Bumpy Road Ahead For The U.S. Auto Industry Germany’s Motor Is Sputtering Chinese Auto Sales Are Stuck in Reverse
Equity markets surged back in the first quarter of 2019, but it was only towards the end that we saw investor confidence start to recover. The first move by investors was to defend their core equity positioning and consider reducing
