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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While there is evidence of improvement in the U.S., European and Chinese growth remains unclear. The weak February U.S. payroll report was countered by measures of the job market that showed more resilience, including surveys of businesses. Signs of stabilization will be a necessary support to the improved risk environment realized so far this year. …
Continue reading “Looking Forward: Viewpoints April, 2019”
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Economic releases this year have shown better momentum in the United States, while European and Asian reports have been more mixed. What does this mean for investors? Read Viewpoints
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Two developments support the outlook for risk taking: Investor gloominess in late 2018 shifted market expectations for 2019 too far and indications that the U.S. Federal Reserve will pause rate hikes for the first half of 2019. Fourth quarter sell-off in financial markets alongside the Fed’s more dovish commentary has moved us off our neutral …
Continue reading “Two developments support the outlook for risk taking: Viewpoints, February 2019”
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Global growth peaked earlier in 2018 and is now showing signs of slowing, but so far the U.S. Federal Reserve has not indicated any plans to back off its plans to raise rates. Trade frictions and Brexit negotiations continue to weigh on economic activity and are unlikely to be resolved quickly. In light of these …
Continue reading “Watchfully Waiting: Viewpoints December 2018”
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