Category: Economic Commentary

As China struggles with short-term growth impacts from COVID-19 and ongoing tariff headwinds, the U.S.’s relatively smaller exposure to Asia has positioned it for an upside surprise. Meanwhile, global central banks …

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 …

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 …

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 …

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 …

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 …

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 …

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 …

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. …