Mike shares how we are updating views on global growth and asset allocation as the coronavirus spreads across the world.
The coronavirus outbreak has altered market dynamics since late January – including in the space of equity style factors. One example, Quality has posted more muted gains after strong outperformance in late 2019. We stand by our tactical views on factors for now, including a modest overweight on quality.
Technology shares are once again leaving everything else in the dust. Year-to-date, the MSCI Information Technology sector, led by U.S. tech, is beating the broader market by over 5% and is ahead of laggards, notably energy, by nearly 20%.
Mike explains how our global outlook has evolved with the developing coronavirus outbreak.
Which is better: growth or value? It’s an age-old investor question. Tony DeSpirito discusses its modern-day implications in a world of widespread disruption.
Catherine explains the economic and political constraints leaders face in responding to the recent wave of global protests.
As Russ explains, bond yields may be low, but are still critical as an insurance policy against equity risk.
The coronavirus outbreak that started in China has sent jitters across global financial markets amid fears of a hit to the global economy. We think it is too early to assess the eventual impact on the economy yet see potential downside risks posed by the outbreak – with its unknown magnitude and duration. This underpins our view that U.S. Treasuries provide a source of portfolio resilience.
Russ discusses the catalysts favoring Emerging Markets, beginning with the Federal Reserve.
Rick Rieder, Russ Brownback and Trevor Slaven contend that eight major market influences are likely to dominate the investment environment in the year ahead and that the proper portfolio mix will be instrumental in delivering a successful outcome.
After an astounding 2019, what’s in store for 2020? Russ discusses.
‘Tis the season for holiday reading. Jean shares our top picks to take you through the new year.
Rick Rieder and Russ Brownback argue that contrary to the many year-end outlooks foreseeing either a recession or a rebound in 2020, the most likely path for the economy and markets is more moderate, which can be encapsulated in their theme of “1.8.”
We expect to see flows back into UK equity and credit now that some of the Brexit uncertainty has been removed.
Jean highlights some key takeaways that may help you with next year’s investment decisions.
Positive returns across asset classes in 2019 may limit tax loss selling in closed-end funds, but we see potential long term value in select sectors where investors can still buy assets at a discount.
We identified the protectionist push as a key market driver this year but we did not foresee the massive move down in global yields. Scott talks through our 2019 calls.
As Russ explains, the evolution of the consumer, still a pillar of the markets, has major implications for investors.
Redefining your lens on risk may help you win more by losing less.
Rick Rieder and Russ Brownback argue that – in contrast to the past decade of monetary policy lifting all economic boats at once – the years ahead are likely to be characterized by great dispersion between economies, industries and markets. Understanding that dynamic will be the name of the game for investment success.
The stock market has been an early player in sustainable investing – while the fixed income market has lagged in data, tools and insights. But that’s changing fast, as we detail in a new publication: Sustainability: the bond that endures. New ESG indexes have created building blocks that can be used to bring sustainability into portfolios, even in asset classes such as emerging market (EM) debt that until recently lacked sustainable solutions.
Markets hate uncertainty, and the type deriving from geopolitical unrest has been heightened this year. Jeff Shen discusses why there may be a silver lining on the horizon for investors.
Russ explains why monetary easing matters more than geopolitical risks for the markets right now.
It’s been a largely solid run for U.S. stocks in 2019. With the year now in its final quarter, Tony DeSpirito addresses three questions on investors’ minds.
Rick Rieder, Russ Brownback and Trevor Slaven contend that much of the recent criticism brought to bear against Fed policy makers is misguided, and in fact the central bank has done an admirable job of pivoting toward a pragmatic equilibrium in recent months.
Recent data show a slowing economy, but no recession. Russ discusses how to position a portfolio in this environment.
Once again, U.S. consumers are keeping the global economy out of the abyss. Russ discusses why.
Covered call strategies in a closed-end fund may help long-term investors manage short-term volatility.
The fourth quarter of 2019 kicked off with a market selloff and more evidence that a protectionist push is hitting the U.S. industrial sector. How are our asset views faring this year to date–and what are the key themes we see shaping markets in the months ahead?
Elga explains why we see a growth pickup looming on the horizon. Hint: Watch the transmission of financial conditions.
Rick Rieder and Russ Brownback highlight their view that effective monetary and fiscal policy in the 21st Century needs to draw not only traditional economic theory, but also from the lessons of finance and other disciplines.
Patrick Nolan offers his top tips to help your money deliver.
Interest rates rose last week, but the surge did not keep stocks from climbing. Russ explains why.
Elga explains why we could see lower growth and higher inflation ahead in the U.S. Hint: trade tensions.
Russ describes the reasons why growth stocks can still outperform value.
Easier financial conditions have lessened the blow of greater political uncertainty. Can that continue?
Rick Rieder highlights the economic policy state-of-play today, and where it may lead to should economic growth falter, productivity not materialize, and populism continue to thrive.
In some parts of the world, bonds are yielding less than zero. Karen explains how that can happen, what it means for your portfolio and moves to consider.
With the dollar remaining strong, Chris discusses whether it makes sense to hedge currencies for international investing.
“Quality” stocks are said to offer a measure of portfolio stability ― a trait that becomes more valuable when markets are volatile and/or the business cycle is growing older. Both are true today. Tony DeSpirito offers his take on investing for quality.
Given the recent volatility, investors may be wary of tech. Not so fast, Russ explains.
Russ discusses why bonds are his preferred hedge in this environment.
Rick Rieder and Russ Brownback highlight the investment themes that they think will drive markets and dominate debate within the investment community over the next several months and beyond.
Russ discusses how central banks once again have investors’ backs.
Rick Rieder argues that anemic growth in Europe is a longstanding problem that today requires a bold solution. Institutionally, the ECB can offer potentially effective, if unconventional, help.
Following months of strong performance, Russ discusses why defensive sectors may be overpriced in the current environment.
Despite structural regional challenges, Russ provides insight on several factors that support European equities.
Rick Rieder and Russ Brownback argue that while most investors are focusing primarily on trade-related supply chain disruptions today, they need to continue to situate this turmoil in the more fundamental changes at play in technology and demographic trends.
Russ explains why the suddenly easier central bank policies could be key for emerging markets.
Low inflation may sound appealing, but as Russ explains, it has drawbacks for investors.
