All Inflation articles – Page 36
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White papersTighter Conditions Begin to Squeeze the Economy
As the economy slows, an epic climb in short-dated rates and bond yields appears to have shocked investors into accepting the prospect of stickier inflation, but they still seem reluctant to price for substantially lower earnings.
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White papersGlobal CIO Q&A: on inflation, rates, recession and more
Inflation has reached record levels. What do you expect in the upcoming months?
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White papersMacroeconomic Picture - October 2022
United States: Growth. We are still calling a soft landing in the US, with an extended period of sub-par growth for 2023 and 2024. We expect the US economy to grow by 0.9% in 2023 (1.1% Q4/Q4) and 1.3% in 2024 (1.3% Q4/Q4). Inflation. Headline inflation has peaked in the ...
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White papersToo early for a Fed pivot
The flattening of the US yield curve will depend on the persistence of core inflation and on the impact of monetary tightening on growth. The more resilient the US economy proves to interest-rate hikes, the more aggressively the Fed will have to tighten monetary policy, thereby increasing the risk of recession. We have gone from ‘bad news is good news’ to ‘good news is bad news’.
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White papersUnited States: a green industrial policy in the making
The US Congress’s August approval of the Inflation Reduction Act (IRA) came as a surprise to most observers. With the mid-term elections just months away and no majority in Congress, no one expected new legislation to be passed. Yet, the Democrats and Republicans managed to reach a compromise. We discuss below the measures announced to promote the environmental transition, which is the centrepiece of the act.
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White papersPerspectives in today’s real estate market
Uncertainty has increased globally due to inflation and conflict, but real estate continues to offer long-term thematic tailwinds:
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White papersCross Asset Investment Strategy - October 2022
Geopolitical risks, inflation and hawkish central banks translate into a cautious stance on risk assets such as credit, in which, a deceleration in growth (and its impact on earnings) could create concerns over cash flows and liquidity, especially for the lower rated companies. Hence, we prefer US IG and are defensive on HY.
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White papersWhat role can renewables play in strengthening Europe’s energy security?
Winter threatens to bring the first severe European energy crisis in decades. As leaders grapple with potential solutions, renewable energy capacity is in the spotlight.
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White papersPolicy Excesses and Market Discipline
We are seeing bond investors standing up for themselves against policymakers, and while equity investors are experiencing pain from this struggle, the end result may be a more sustainable, fundamentals-based market.
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White papersGlobal Investment Views - October 2022
Geopolitical risks have returned to investors’ radar screens with President Putin’s escalation of the war in Ukraine. At the same time, inflation remains in the spotlight: the latest US reading was concerning, causing yields to rise while equity markets tumbled.
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White papersGrowth and evolution of the real estate sector
The current macroeconomic environment is having repercussions for all asset classes. The real estate sector continues to remain strong, offering a good protection hedge to inflation thanks to its robust nature and low correlation to other asset classes.
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White papersPortfolio construction themes in these times of inflation
Investors seeking to put this bear market behind them aren’t out of the woods yet. Hopes that inflation might peak quickly, that the U.S. Federal Reserve would pivot, and that the global economy could emerge unscathed — all have diminished.
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White papersReal Estate Outlook – Europe, Edition September 2022
The economic outlook for the UK and eurozone deteriorated further over the course of 2Q22. An optimistic scenario is for a soft-landing, where economic growth slows significantly in 2023 but narrowly stays in positive territory on an annual basis.
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White papersOverflow…the growth of self-storage
It’s a familiar problem: overflowing closets, packed garages and bedrooms transforming into home offices. Where do we put all that extra stuff? No wonder self-storage has been one of the best performing real estate sectors over the past several decades.
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White papersHardball: Does real estate still have what it takes?
For years, investors have held steady on their reasons to allocate to private real estate: return potential, income, volatility management, inflation hedging and diversification. But the current environment is testing every asset class. Can real estate continue to deliver?
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White papersTop 5 takeaways for infrastructure
The Inflation Reduction Act of 2022 is the most important US clean energy legislation in recent history. The bill gives investors unprecedented policy visibility that was previously lacking. Energy tax credits have been expanded to investments such as standalone energy storage, clean transportation, hydrogen etc., opening up new investment opportunities.
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White papersFrontloading
The global economy remained largely resilient in the first half of 2022, despite war in Eastern Europe, commodity shortages, and inflation. However, this is leading most major central banks to turn increasingly hawkish and frontload rate hikes which should weigh on growth.
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White papersHold the Inflation Victory Lap
Inflation still appears to be the biggest source of potential volatility in the market, and we think that’s because it will remain the dominant economic story for the foreseeable future.
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White papersWhy European alternative sectors provide a haven for investors in inflationary times
Real estate investors today face the greatest economic uncertainty in over a decade. The ongoing economic crisis is anything but conventional, defined by supply chain turmoil, geopolitical upheaval, spiraling consumer prices, and the reversal of a 40-year decline in interest rates.
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White papersResilience in the listed real estate sector
Listed real estate stocks, as with many equity sectors, have evidently had a volatile few months since the invasion of Ukraine, which derailed their strong recovery post the Covid-19 pandemic.
