Content (58)
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White papersThe U.S. Value Stock Rally—Expect a Shift to Quality
We believe value-oriented companies should continue to find generally solid support, and we anticipate a progressive rotation as investors gradually shift focus from early-cycle/deep-value stocks toward higher-quality value companies.
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White papers
Demand Stimulus and Inflationary Pressures Loom for Post-Election Germany
The near-certain presence of the Green Party in Germany’s next coalition government means that an ambitious package of environmental reforms will likely be delivered alongside a significant rise in the minimum wage. This will stimulate demand and put upward pressure on prices, which the European Central Bank may use to set eurozone inflation higher.
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White papers
Controlled Deflation of the China Property Debt Balloon
China’s real estate market has started to slow as a result of policy moves such as the three red lines for property companies and two red lines for banks. These moves have also curbed aggression in developers’ growth strategies and improved their metrics.
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White papers
Germany’s New Government Is Likely to Rewrite Economic Policy
It is almost certain that the Green party will form part of the next governing coalition of Germany. New policies that prioritize Germany’s transition to green technology are therefore virtually guaranteed regardless of the exact composition of the next government. This could trigger a sell-off in bunds next year.
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White papers
The Cycle—Where Are We? Implications for Global Equity Investors
Markets are most afraid of a Fed mistake, but we are increasingly leaning toward a “goldilocks” scenario where inflation fades and economic growth stabilizes. We continue to focus our time on finding stocks where we have an insight about improving economic returns while avoiding stocks that imply unnecessary risks.
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White papers
How Digital Currencies Add Policy Potency for Emerging Markets
By issuing their own digital currencies, emerging market central banks will be able to enhance financial inclusion and exert greater control over their nations’ economies. More people become directly exposed to interest rate decisions, greatly strengthening the power of monetary policy. This will likely reduce inflation and interest rate volatility and, ultimately, lower long-term bond yields.
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White papers
Why This “Value” Recovery May Have Only Just Begun
Value as an investment style is enjoying a revival. We believe economic recovery, earnings momentum, and attractive valuations can keep the “value” recovery going. For investors seeking a balanced portfolio, value is an essential component of an investment strategy.
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White papers
How Far Are We in This Value Rotation?
Has the value rotation that began in September already run its course? We look at three quantitative reasons why it is unlikely to be over. We believe there are solid fundamental reasons to tactically overweight value versus growth.
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White papers
Opportunistic Investing in a Dynamic High Yield Market
The high yield market, including bank loans and distressed credit situations, remains an attractive option for investors seeking meaningful income in a relatively low-yield environment
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White papers
What Makes an “Impact” Investment Manager?
Impact investing aligns the interests of stakeholders with shareholders, fiduciaries, and listed corporates to pursue positive social or environmental outcomes.
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White papers
Surging Home Prices May Lead to Rate Hikes
The return of housing as an economic driver gives the Fed options.
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White papers
Four Keys to Tackling the Green Bond Boom
Increased issuance means more buy‐side diligence is needed.
