All Commentary articles – Page 157
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White papersAnother Breakthrough Year for China Bonds
The market made it into global indices but also broke records for defaults in 2019 and is facing uncertainty from the coronavirus: we take stock for 2020.
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White papersInvestment Phazer Update: downward trend is confirmed
While in the short term we do expect some temporary relief coming from positive economic surprises and supportive news on the trade front (should coronavirus impact be limited), on a medium-term horizon our economic scenario confirms the fragility of the profit cycle.
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White papersOpportunity exists for US, UK and Canadian pension funds who are prepared to de-risk
We recently witnessed the end of a very important moment, when US, UK and Canadian pension funds were simultaneously at the best funded status they had experienced in ten years. At the same time, all three markets had new entrants in pension insurance and reinsurance with ample insurer capacity, vibrant price competition and attractive buy-in and buy-out pricing. Additionally, seven years of lower than expected longevity improvements meant the lowest liability pricing from insurers and reinsurers in over ten years.
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White papersFocal Point The Corona virus: What to expect?
The outbreak of the Corona virus (2019-nCoV) is spread-ing fears around the globe and rattling financial markets. Since it likely sprang over to humans in the city of Wuhan in central China in early December 2019, new infections have grown exponentially. By the time of writing, China re-ports 7,711 people infected and a death toll of 170.
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White papersThe Cruelest Month May Come Early This Year
The forecasts told us 2020 should be smooth and any turbulence wouldn’t come until later, if it came at all. Yet, we’re one month in and already risk is beginning to loom across three continents’ horizons.
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White papersFocus On Fundamentals: Virus Volatility Provides Entry Points For EM Equities
The coronavirus has been the strongest driver behind the recent volatility in financial markets, providing the trigger for a break in the rally in risk assets, which had been running uninterrupted since October.We should be aware that the trough for markets could be well in advance of the peak of the epidemic, as markets tend to overreact at the beginning of a crisis and then stabilise and rebound, despite the continuation of the negative news flow.
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White papersSecure income and green infrastructure: an unlikely marriage?
How to source stable, long-term cashflows with a strong ESG focus
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White papersSetting the standard for sustainable agriculture
Businesses, governments, and people from all walks of life are increasingly recognizing sustainable and responsible business practices as crucial to confronting some of the world’s most pressing economic, social, and environmental challenges.
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White papersFocal Point US outlook: a soft landing supported by the Fed
We expect the US economy to cool this year. Growth will likely ease from 2.2% to 1.6% because of the full effect of tariffs becoming effective during the first half of the year. The lagged impact of the 2019 rate cuts and that of the additional reduction we expect for Q2 will engineer a soft landing of the economy, despite still substantial headwinds. The Fed will take big steps to adapt its monetary policy strategy to a low-inflation, low-interest rates world. The broad view of this strategy should be clearer by summer, but the dovish bias it will most likely produce will be welcomed by markets.
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White papersThree trends to watch in UK long-income real estate
In an era of low interest rates and rising maintenance costs, the benefits of long-income assets within UK real-estate portfolios are hard to ignore. Tim Perry looks at three key trends that are influencing the UK long-income market.
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White papersRisks Rebalanced - Asset Allocation Committee Outlook 1Q 2020
On Tuesday, January 14, Erik Knutzen, CIO of Multi-Asset Class, Gorky Urquieta, Co-Head of Emerging Markets Debt, and Conrad Saldanha, Senior Portfolio Manager, Emerging Markets Equity, discussed the AAC’s latest views on navigating the current market environment.
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White papersStable Growth, Policy in Transition - Fixed Income Investment Outlook 1Q 2020
With a stable economy likely to provide a positive environment for credit this year, shifts in monetary policy could contribute to more frequent volatility in fixed income markets, while political developments will be an ongoing risk.
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White papersInvestment Case: Continental European real estate
Continental Europe’s real estate market offers investors the scope to tap into a wide opportunity set, capitalise on the region’s economic recovery and reap the benefits of diversification, while keeping risk down to levels consistent with core, income-driven investments.
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White papersSpectrum Asset Management Outlook for 2020
Some macro risks—such as Brexit—appear to be de-escalating, but uncertainties continue; trade war negotiations are likely to overhang sentiment into the United States election.
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White papersEMD in 2020: A year of “alpha,” and the return of the “political economy”
As we end another tumultuous year for emerging markets (EM), it’s a good time to pause and reflect on what the start of the third decade of the 21st century holds for emerging market debt (EMD) investors.
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White papersDelta: our 2020 credit-sector outlook
From electric-vehicle sales to US pharmaceuticals and the strength of European banks, our credit analysts provide their 2020 outlooks for industry sectors.
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White papersFive Multi-Asset Strategies for 2020’s Challenges
The last decade produced great performance across most asset classes. But in the 2020s, we expect investment market returns will be lower and risk harder to manage. Looking forward, a disciplined multi-asset approach will be especially valuable to identify opportunities and help mitigate setbacks.
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White papersInvestment Outlook 2020 - Hotel California: No Leaving QE
Central bank policy is moving backwards now instead of forward, with three rate cuts reversed so far in the US and the European Central Bank (ECB) relaunching quantitative easing (QE). ‘Lower-for-longer’ risks are becoming a permanent state of affairs, with major significant implications for fixed income markets and investors. ...
