We are moderately overweight risk as we prepare to enter 2020, as the global economy shows signs of stabilization after an episode of mid-year weakness. We expect markets to focus on the tensions between organic economic growth and the risk associated with geopolitical uncertainties such as the U.S.-China trade war, Brexit and the 2020 U.S. …

Continue reading “2020 Outlook: Everything in Moderation. Viewpoints, January 2020”

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We see a number of positive factors spurring economic growth, including global stabilization, a positive October jobs report, and guarded optimism over U.S.- China trade talks. What else is driving our positive outlook for risk-taking? Read Viewpoints

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We expect geopolitical risks to weigh on investor sentiment and contribute to continued volatility, leading us to move toward less-risky risk assets. How will the uncertainty affect the economy – and will the impacts be tempered with further monetary easing? Read Viewpoints.

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Although the economy’s “goldilocks” underpinnings are currently at risk due to the ongoing tariff tussle, it has been an excellent year in financial markets. Potential risk factors include a potential return of inflation and an extension of tariffs beyond those the U.S. has placed on Chinese imports. What do we expect from various sectors? Read …

Continue reading “The Fed and Trade: Viewpoints October, 2019”

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Each summer we review our capital markets assumptions which results in an updated 5-year investment outlook and renewed 5-year investment themes. What current developments – and longer-term trends – do these investment themes encompass? Read Viewpoints.

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In the current low-rate environment of subdued inflation, interest-rate-sensitive assets such as global real estate and listed infrastructure continue to appeal. Meanwhile, global growth is set to fall a bit short of expectations.  Read Viewpoints

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Global growth prospects are hindered by trade tensions, but we expect reductions in U.S. interest rates to soften the blow and keep risk assets  attractive. Along with U.S. equities, real assets including global real estate and global listed infrastructure may be poised for outperformance. What else do we expect from various sectors? Read Viewpoints.

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China and the U.S. are both showing sensitivities to the tariffs resulting from the trade dispute. Despite these headwinds, the U.S. widened its year-to-date advantage and we anticipate further growth in U.S. equities. Meanwhile, the stuckflation theme continues to persist globally. What other market opportunities do we see? Read Viewpoints  

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No longer expecting an interest rate hike in the U.S., the financial markets now foresee a potential cut. Meanwhile, evidence of an upturn in emerging market economies has been developing, the high-yield credit rally is continuing and global equities are gaining. How did we get here, what impact are these changes having on the financial …

Continue reading “Future Opportunities – Viewpoints May, 2019”

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