All Equities articles – Page 67
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White papersImpact Report, Q4 2020
It is estimated that damage to our ecosystems and the associated loss of biodiversity could cost the global economy $10tn by 2050. For many, the coronavirus has acted as a wake-up call: we cannot continue our current relationship with nature. Now more than ever, investors must take action to consider the impact of their investments.
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White papersThe Day After #13 - How Will Central Banks Impact The Equity Markets In The Post-Covid World?
Interest rates are at an all-time low, and even if inflation eventually picks up, it could take some time. Central banks, the first pillar of the investment cycle, are adjusting and are resolutely accompanying governments in this final battle against deflationary threats, at the risk of losing some of their independence.
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White papersEuropean Equities: The Peak Of Pessimism Is Behind Us
There are reasons for optimism in 2021. Forget a U-shaped recovery; the letter we look for in 2021 is V, which stands for vaccine. Our baseline scenario is that vaccines roll out across Europe in early 2021, allowing business and consumer activity to start to return to normal. But even if there are delays and further lockdowns, the economic impact of Covid-19 should ease markedly in 2021.
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White papersEconomic Outlook: 2021 and beyond - a slow and winding road to economic recovery
In his latest economic outlook report , Senior Economic Adviser to the International business of Federated Hermes, Neil Williams, summarises his expectations for the global economy in 2021 and beyond. Major economies have slowly started to recoup their GDP after an extraordinary year.
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White papersVaccine News Gives Markets Another Shot
Central banks continue to err on the side of caution to support the economy, financial markets are rotating back into risk amid vaccine progress, negotiations for Brexit are rapidly approaching year-end deadlines, while U.S. fiscal talks become more optimistic.
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White papersThe US election and Covid-19 vaccines: implications for the economy and markets
Joe Biden has been elected 46th president of the United States, and it is likely that he will preside over a divided Congress, with the Republicans maintaining their Senate majority. US voters, like the markets, appear to prefer a balance of power. While President Trump has contested the election results in numerous states, President-elect Biden is likely to be confirmed.
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White papersGlobal Insights – Outlook for 2021
Primed by continued global monetary stimulus and exuberant global fiscal spending, and further boosted by the fading of the tail risks that had plagued markets through 2020, capital markets are facing one of their best backdrops in years. 2021 could turn out to be the year that the overdue cyclical rotation, 10 years in the making, finally materializes and, importantly, takes hold. Make no mistake, there is still a high level of uncertainty going into 2021.
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White papersFirst in, first out: what next for China?
As China emerges from the disruption wrought by the Covid-19 pandemic, we consider our outlook for the world’s second-largest economy. China is embarking on an ambitious strategy to transition its economic model, while also attempting to drive more sustainable practices.
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White papers2021 Investment Outlook Report
Our comprehensive Outlook Report addresses in further detail both the macro and asset class specific themes we have identified and examines the evolution of the investment environment over the past 12 months.
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White papersThermal Coal: Aligning Policy with Emerging Reality
In seeking to curb client exposure to a key carbon source, our team’s thermal coal policy acknowledges distinct characteristics found within the emerging markets.
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White papersLight at the end of the tunnel for multi-factor equity investing?
Multi-factor equity investing has underperformed in 2020 as a small number of growth stocks left the peleton far behind.
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White papersGetting Smarter Around Disruption
With innovation continuing to pave the way through the digital revolution of today, consumers and investors alike have wanted to know what could become the “next big thing” across industry sectors. As more and more groundbreaking business concepts continue to enter the market, one might wonder what is it about an idea or concept that makes it truly disruptive? And what is the thought process behind it?
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White papersDarker Tunnel, Brighter Light
The broad flow of economic data has been stronger than expected across Europe and the United States, even as much of Asia continues to recover.
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White papersA few reasons why the Covid crisis may lead to less deglobalisation than thought
It is a widespread view that the Covid crisis will accelerate trade deglobalisation, including through industrial reshoring and shorter value chains. However, the most likely scenario is more complex, as trade in services may grow even more globalised, while the reshoring of manufacturing activities may run into a number of practical, yet also political, obstacles.
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White papersQ3 2020 reporting season surprised on the positive side
Q4 visibility has shrunk as new lockdown put at risk the recovery. EPS rebound should resume in 2021 given the base effect, the ramp-up of stimulus and a potential easing of containment measures alongside the progress made to curb the pandemic.
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White papersThe vaccine is a binary event for the markets, not for the economy
Since the announcements of the discovery of a very effective vaccine, first by Pfizer-BioNTech and then by Moderna and AstraZeneca, the horizon has opened up. Investors are beginning to dream of a world immune to Covid-19. But one swallow doesn’t make a spring. Many unknowns remain (see p.4) and the Covid-19 crisis will leave lasting traces in the economy going forward.
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White papersBig Tech at the crossroads…
Big Tech’s stock market performance has become more hesitant. A simple market rotation or a more durable phenomenon? With the exit from the crisis getting closer, sectors shunned during the pandemic could actually benefit from a catching-up movement. However, between its disruptive nature which is cannibalising traditional companies and interest rates which, apart from a slight increase, look set to remain durably low, Big Tech retains major advantages. Especially as its valuation is less exceptional than it seems, provided however that its profits momentum remains sustainable…
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White papersA Heartfelt Thanksgiving
We emerge from the holiday hopeful for a Season of Goodwill in markets, but ready for any last surprises that 2020 might have in store.
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White papersInvesting in Energy Efficiency to Fight Climate Change
As part of our search for sustainable growth, we identify broad secular themes that in many cases recognise issues of social importance, such as climate change, health care for aging populations, nutrition and wellness, and expanded access to technology. Indeed, many years ago, our research into the serious environmental consequences of air and water pollution led us to formally develop an investment theme centered on the environment.
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White papersGlobal Investment Views - December 2020
As we approach year-end, markets can count on two pieces of news to propel some optimism. The first comes from the US, where the Biden victory, without a real Blue Wave, is seen by markets as the best possible outcome.
