All Inflation articles – Page 35
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White papersInflation: Higher but Not Forever
High inflation and the consequences of attempts to curb it are a top concern for today’s investors. We believe that, by hiking rates, policymakers can eventually slow demand enough to subdue price pressures, even in an environment of constrained supply. But this process takes time.
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White papersFour Key Findings about the U.S. Yield Curve
The U.S. yield curve attracts a great deal of attention when it is close to inverting given its historical connection with U.S. recessions as well as sharp selloffs in equity and credit markets.
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White papersNavigating an inflationary environment in US and global equities
Forty years … That’s how long it has been since the Great Inflation, which lasted from 1965 to 1982 and saw inflation in the US climb as high as 13.5%. According to Michael Bryan of the Federal Reserve Bank of Atlanta, it was the “defining macroeconomic event of the second half of the twentieth century … there were four economic recessions, two severe energy shortages, and the unprecedented implementation of wage and price controls”.
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White papersStaying On Theme
When inflation, interest rates and global economic uncertainty are rising, cash today can seem more urgent than exposure to the markets of tomorrow—but could that mean investors risk missing out on the potential of thematic strategies?
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VideoGTIS Partners President on Homebuyer Challenges
Tom Shapiro, GTIS Partners President & CIO discusses how rising mortgage rates and supply-chain disruptions have begun to weigh on the US housing market. (Source: Bloomberg)
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White papersShoppers Keep Spending, But For How Long?
A risk-off tone was prominent this week in markets amid rising worries of stagflation, given aggressive monetary policy. Despite the solid U.S. retail sales data, retailers led a sharp decline in equities mid-week, which pushed U.S. Treasury yields lower.
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White papersAre We There Yet?
Regardless of whether we get a hard or soft landing, we likely face a steep approach to the runway in trying to “land this plane.” The question is, how well consumers and companies absorb the slowdown, and whether sentiment is already bearish enough to create long-term value.
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White papersJapan: Land of the Rising Prices?
Japan looks set to emerge from 30 years of near-zero inflation in 2022—but are its companies able to absorb higher costs, or even re-learn the art of passing price hikes on to their customers?
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White papersRelative value in EM local markets
Emerging market (EM) core inflation has risen by less than US inflation, in part due to weak economic conditions within EM and proactive EM central banks. The acceleration of interest rate hikes by EM central banks has driven up real interest rate differentials between EM and the US, making ...
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PodcastCLOs: Finding Value in Turbulent Markets
Co-Head of Structured Credit, Melissa Ricco discusses the current state of the collateralized loan obligation (CLO) market. She provides insight into the year-to-date performance of the asset class, the current credit quality picture, and what risks the team is monitoring.
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White papersHow Ukraine Mission Creep Will Fuel the Next Inflation Wave
And that’s on top of the other risks from war aims that are turning ever more resolute, expansive, and vague.
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White papersInflation-Fighting Properties
Real estate has tended to get a prominent page in inflation playbooks—but do some parts of the market get a particularly strong tailwind from rising prices?
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White papersUpward pressures on inflation are the major market driver
We expect central banks to remain on the hawkish side as long as inflation expectations remain on the upside, as central banks are afraid of losing their credibility. However, the Fed and the ECB are in different positions. The Fed wants to tighten financing conditions to slow demand, as the US economy is running hot. However, the ECB is stuck in an impossible situation: Eurozone inflation is primarily driven by higher energy costs, and a central bank has few “tools” to fight cost-driven inflation without hurting growth.
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White papers50 Is The New 25
The FOMC raised the Fed funds rate by 50bps and announced the beginning of quantitative tightening. Chairman Powell signaled that 50bps hikes will be the new normal for the next couple of meetings, as inflation fears remain. The BoE and ECB also contemplate their paths ahead.
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White papersQ2 2022: A late cycle with a greater focus on inflation
The shift to an inflationary late cycle has been confirmed with greater conviction and a focus on higher inflation (and rates). Economic momentum is still decelerating at a global level but with tentative signs of stabilisation.
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White papersSetting your investment objectives: institutional asset allocation practice
Most institutional investors already have an Investment Policy Statement (IPS) that defines the objectives, investment limits, investment universe and governance of their portfolios. These parameters are not set in stone and must be reviewed periodically given changes in investors’ circumstances, philosophy, long-term expectations and regulations.
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White papersCross Asset Investment Strategy - May 2022
We are witnessing significant divergences in the economic outlook (we have revised down the EU and Chinese economic outlooks vs. the more resilient US economy) and in market performances.
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White papersRising Inflation is Not All Bad News for Profit Margins
Concerns over companies’ profit margins continue to mount as the U.S. economy faces the highest inflation since the 1980s. However, we find that some sectors’ margins actually increase in high inflation.
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White papersAre investors right to look to UK real estate amid rising inflation?
UK real estate has seen increased interest from investors seeking shelter from rising inflation. We look at the strengths and weaknesses of the strategy and point out what investors should look out for.
