All Commentary articles – Page 4
-
White papersTrump’s tariffs – A paradigm change
In the absence of major revisions, the latest US import tariffs are a stagflationary shock for the US economy, potentially derailing growth and raising recession risks. A major risk-off move is now underway as financial markets move to a completely new interpretation of ‘US exceptionalism’.
-
White papersGold at a time of tariffs and trade war
“Gold prices should remain supported by demand for safe-haven assets, amid a threat of trade war, tariffs and their economic fallout.”
-
White papersTrump tariffs roil markets. What’s next?
If investors were looking for a reason to sell US stocks, they found it in President Donald Trump’s sweeping tariffs. Following several weeks of volatility sparked by on-again off-again tariffs, Trump’s 2 April announcement of higher-than-expected levies against virtually every US trading partner sent shockwaves through global financial markets.
-
White papersExpert perspectives: ‘Liberation Day’ tariffs unpacked
‘Liberation Day’ tariffs have intensified stagflation fears, driving risk-off sentiment across markets. Investors are shifting toward quality, selectivity, and liquidity, while real estate shows relative resilience amid broader uncertainty.
-
White papersHow artificial intelligence is reshaping financial services
AI is helping enhance efficiency, reduce costs and improve decision-making
-
White papersCoping with market downturns
The 2025 market landscape has been shaken by aggressive U.S. trade policies, sparking global retaliation and heightened fears of recession. Despite sharp volatility and a dip in investor confidence, historical trends show that disciplined, diversified investors are often rewarded over the long run. Staying invested through downturns remains a proven strategy to capture the powerful recoveries that typically follow.
-
White papersWhat Raising the Trade Drawbridge Means for the World Economy
Trade wars threaten longstanding trade partnerships and could weigh on the global economy.
-
White papersThe Endowment Model Reimagined
The endowment model defined the “art” of portfolio management, but now it needs to adopt the latest “science.”
-
White papersMaking America’s Chip Fabs Great Again
As national security threats mount, the U.S. aims to revive production of complex computer chips, creating potential opportunities all along the semi supply chain.
-
White papersMarket Valuation of Climate Patents: What are the Most Valuable Innovations?
This paper analyzes the market valuation of climate innovations through a detailed examination of patent data. We explore the relationship between Tobin’s Q —a measure of firm valuation— and the stock of patents across various climate technology categories.
-
White papersMaking diversification great again: April macro and asset class views
President Trump has designated April 2 for unveiling a series of tariffs on trade partners, referring to it as America’s ‘Liberation Day.’ But businesses and investors won’t be liberated from trade policy uncertainty.
-
White papersEurope in focus amidst fiscal boost
“President Trump’s approach to trade and global alliances may be a wake up call for Europe. The region is signalling a clear and a historical shift, which will require target measures to boost growth efficiently.”
-
White papersThe emergence of Gen-Z
The ageing global population throws up a number of social, economic and healthcare implications. However, another cohort is emerging into a dominant economic force in EM.
-
WebinarTime for Europe: Unlocking Europe’s Investment Potential
Register now: Tuesday 8th April, 2025 - 09:00am BST | 10:00am CEST
-
White papersGermany’s fiscal shift: A boost to Europe, but U.S. edge remains
Germany’s bold fiscal expansion has sparked optimism around Europe’s growth prospects and challenged the narrative of U.S. market dominance. Yet, structural constraints across the broader EU and renewed U.S. innovation leadership suggest America’s edge remains intact. While European momentum is building, U.S. exceptionalism continues to stand on stronger, more resilient ground.
-
White papers7 reasons why U.S. exceptionalism is only being challenged, not overtaken, by Europe
Europe’s recent market outperformance reflects a shift from tactical value plays to more fundamental drivers, led by Germany’s fiscal pivot. However, structural challenges, limited fiscal headroom, and rising external risks—like U.S. tariffs and a potential U.S. slowdown—suggest that European momentum may prove fragile. Despite Europe’s progress, U.S. exceptionalism in innovation, deregulation, and long-term growth remains firmly in place.
-
White papersThe new real estate cycle: How changed perceptions will be consequential
Global disruptions, technology advancements, and evolving investor perceptions are reshaping opportunities in the new real estate cycle. Learn about the vital role of private capital in driving economic growth and reimagining urban spaces.
-
White papersSwap spreads: analysis, challenges and outlook
Swap spreads, key indicators of liquidity stress and risk aversion, play a crucial role for insurers. Beyond measuring price differentials between sovereign and corporate bonds, they directly influence hedging decisions, asset-liability management (ALM) strategies and insurer returns under Solvency II.
-
White papersMind the underinvestment gap: Shaping the UK’s future through private markets investment
With decades of underinvestment in UK real assets – from housing to healthcare and infrastructure – investors can tap into the opportunity to drive regeneration and growth. Taking a holistic approach to local investment could maximise social outcomes and create value for communities and investors.
-
White papersArtificial intelligence and investing: it’s all about the data
Teaching machines how to “think” has been a tantalizing goal since the early days of computing, and recent advances in generative AI have brought us closer to achieving it. However, whether AI-generated “buy/sell/hold” signals can be used for investing is partly a question of whether the value outweighs the risk. One only needs to read a few passages of AI-written content to notice that it is a simulacrum.
