All Commentary articles – Page 5
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White papersTopic Modeling with AI Tools
We present a robust topic modeling framework that mitigates overfitting while capturing the evolving nature of discourse. Our approach proposes a dynamic, temporal network-based model that adapts to emerging topics while maintaining semantic stability through alignment with predefined themes.
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Research ReportInfrastructure Quarterly
The Infrastructure Quarterly explores the performance of the private and listed infrastructure markets, along with sector insights such as renewables and digital infrastructure, to identify actionable insights for your portfolio decisions.
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White papersWhat is a Defensive Trade Today? Low Vol vs. Quality vs. Bonds vs. Gold
With more investors looking for defensive trades, what counts as a defensive trade in today’s environment? Differences in valuation—and different interpretations of what counts as defensive—mean that not all such trades are equal.
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White papersNavigating market volatility amid US tariffs and policy uncertainty
Amid uncertainty in equities and credit markets, we remain focused on long-term investment fundamentals and building portfolios to weather the storm and deliver for clients.
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White papersCan European Equities Regain Footing amid Global Adversity?
European equities have started 2025 on a positive note. Several factors could help the market overcome challenging conditions.
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White papersNavigating opportunities in a higher-for-longer market
Today’s landscape offers attractive income opportunities, with elevated real rates and resilient fundamentals supporting diversified sources like dividend equities, real assets, and high-quality bonds.
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White papersThe diverse economic impacts of artificial intelligence
AI uptake by companies and households appears to have increased significantly in recent months. This is one of the factors that will determine whether AI will increase productivity gains significantly. As we will show in this section, a lot of new data and statistics have been published over the past quarters, and related knowledge has improved.
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White papersCross Asset Investment Strategy - March 2025
Topic of the month: A step forward for Europe
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White papersA step forward for Europe
From sluggish to strong: Germany poised to support Europe’s growth
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White papersScenarios, risks and macroeconomic forecasts - March 2025
Main and alternative scenarios as of 20th February 2025
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White papersMacro brief: Growing risks to India’s demographic dividend
Ongoing talk of India’s demographic dividend is easy to understand: the country recently overtook China as the world’s most populous country and over the next 20 to 25 years, is set to become the largest contributor to the global working age cohort.
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White papersSteering through the fog of policy uncertainty
Why a short-term economic soft patch should give way to a strong second half for markets.
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White papersRethinking the Stock-Bond Correlation
The correlation between stocks and bonds has been a prominent topic of discussion over the past 5 years, particularly due to the resurgence of inflation risks. Many portfolio managers, who had long assumed that the stock-bond correlation was negative, were surprised when this relationship turned strongly positive in the aftermath of the COVID-19 crisis. This article examines the stock-bond correlation from both a theoretical and an empirical perspective.
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White papersMonthly Market Viewpoint – Not so exceptional after all
Declines in US equities over the last month were primarily a function of disappointing economic data and a partial ‘Magnificent-7 unwind’ rather than tariffs. Lately, it has been self-reinforced panic selling, which we expect will be reversed. We remain optimistic on the medium-term outlook.
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White papersFebruary CPI report: Not yet in the clear
The February CPI print was lower than expected, with the monthly increase in both headline and core CPI the smallest since late 2024, bringing annual numbers down to 2.8% and 3.1%, respectively. The inflation report will likely deliver a temporary reprieve for markets that have been recently focused on increased stagflation risks.
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VideoGlobal growth prospects and opportunities in 2025
“One of the key things that we are expecting for 2025 is the announcement of tariffs–not just announcement but, actually, enforcement of those tariffs. The likelihood is that a number of tariffs for certain countries is going to be very, very significant.”
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White papersWomen and Investment
Men and women differ in their investment decisions. In this article, we review the main differences in risk aversion, portfolio choices, venture capital investment, and socially responsible investing, as well as their causes: genetic and social factors, financial education, advice, etc. Gender differences raise important questions for public policy, particularly regarding women’s financial adequacy in retirement. Recent developments in Artificial Intelligence and the associated new financial services (fintechs and robo-advisors) can now offer promising tools to reduce inequalities.
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White papersLocked ‘n’ loaded and ready to fire: first take on China’s National People’s Congress (NPC)
Premier Li Qiang kicked off the annual meetings of the National People’s Congress (NPC) with the government’s Work Report, marking the nation’s biggest political event of the year. Besides a busy calendar of political decision-making, the NPC is also closely watched by markets as Beijing sets the course for the economy and macro policies for the remainder of 2025.
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White papersFebruary jobs report: A sanguine number… for now
The February jobs report showed a 151,000-worker increase in payrolls, broadly in line with consensus expectations, defying fears of significant cracks in the labor market. Yet, while the worst fears were not met, the report did confirm that the labor market is cooling. Furthermore, with no shortage of headwinds confronting the U.S. economy, including federal government layoffs, public spending cuts, and tariff uncertainty-related inertia, the softening trend will likely persist and potentially deepen in the coming months.
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White papersForget the Magnificent 7: Meet China’s Terrific 10
China’s top tech firms are emerging as global contenders as President Xi Jinping aims to boost innovation and revitalize his country’s economy.
