All Multi-Asset articles – Page 9
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White papersSolvency II review to strengthen insurance sector
Now awaiting passage into law is a major review of the 2016 Solvency II regulation governing the solvency capital requirements (SCR) of European insurers. The amendments proposed by the European Commission (EC) and the European Insurance and Occupational Pensions Authority (EIOPA) are intended to ensure the insurance sector remains fully resilient to future market shocks.
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White papersCross Asset Investment Strategy - March 2022
The geopolitical escalation at month’s end marks a further rise in volatility, even as the Fed and the ECB displayed hawkish overtures earlier. We suggest a more cautious stance in credit amid rising liquidity risks and a less appealing risk/return profile for credit compared with equity.
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White papersVolatility, value and variants: 360°, Q1 2022
In this latest edition of 360°, Stephane Michel, Head of Fixed Income, Multi Asset Credit Solutions, and our team of specialist investors consider the likely shape of markets in a post-pandemic world.
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VideoCredit Pulse: market update – 25 February 2022
In this Credit Pulse, we use analysis from our February Credit Strategy Meeting (CSM) and discuss the challenges we see arising in the markets and how the expectations formed a few months ago are challenged in the present environment.
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White papersMacro Views: How long can oil continue to shine?
Oil is once again in the spotlight, reaching levels not seen since 2014. After having traded in negative territory when the pandemic took the world by surprise in 2020, we are now facing $100+ a barrel for Brent crude oil again.
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White papersAsset Class Implications of the Russia-Ukraine Conflict
Russia has invaded Ukraine. Our Franklin Templeton Investment Solutions team reflects on the human tragedy that is occurring as they also parse the data to understand the resulting economic and market implications. If the conflict remains protracted, it may produce a “low growth, high inflation” environment, in which case nimble management and keen attention to policy responses will be required.
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White papersRussia attacks Ukraine: Markets will have to readjust to the shock
Market reaction: The worst-case scenario of a full blown attack to Ukraine has materialised. It’s risk-off on Russian assets; global risk assets are under severe pressure.
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White papersMacro Views: Are we close to the peaks?
The first few weeks of the year have been marked by major tectonic shifts in terms of central banks’ monetary policies and market action. The change from an environment of “Goldilocks” to “normalisation” has been anything but gradual, weighing heavily on market sentiment.
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White papersManaging Duration in Multi-Asset Strategies? Be Dynamic
For most of the past decade, government bonds have contributed positive returns and a note of stability to multi-asset portfolios. But since late 2021, they’ve been much more volatile, as markets digest central banks’ transitions toward tighter monetary policy.
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White papersMacro Views: Earnings Seasons provides only modest support
Earnings season for Q4 2021 is in full swing, with over 60% of firms in the S&P 500 and over 35% of firms in the Stoxx 600 having reported thus far. Subdued expectations have led to low hurdle rates for earnings, cleared by 75% of reporting firms in the S&P 500 and 58% of those in the Stoxx 600.
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White papersMacro Views: From “Behind the curve” to “Policy mistake”
Central banks have changed their tune from “Let’s Dance” to “The Hammer Song”, confirming that fighting inflation has become their top priority.
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White papersEquity factor investing – Sunshine after the storm
After a particularly difficult 2020, 2021 proved favourable for multi-factor equity strategies investing in the cheapest, most profitable and least risky companies with the strongest momentum in each sector.
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White papersWeekly newsletter Macro Views: Correlation shock? Not all hedges are created equal
January has been very volatile so far, with most equity indices falling by double digits and off to the worst start of the year since 2016.
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White papersMacro Views: Macro Fundamentals Support a Risk-on position
The new year has started with significant volatility, as central bankers make clear a shift in monetary policy that has seen long rates move sharply higher and questioned asset valuations.
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White papersMacro Views: A Shaky Start to the Year - Where do we go from here?
2022 has got off to a shaky start. Fears over the Omicron variant towards the end of last year have shifted to central banks and their hawkish stance, rattling the bond markets and producing a knock on effect on every other asset class.
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White papersResilient multi-asset portfolios in an inflationary regime
Inflation dynamics drive monetary policy and financial market trends and play a key role in portfolio construction. Therefore, the ex-ante identification of a possible shift in the inflationary regime is needed to fine tune multi-asset portfolios.
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White papersMiViews Q1 2022: The Great Normalisation
After two turbulent years of deep recession and extreme recovery, we expect 2022 to be the year of normalisation with regards to policy mix, economic activity and inflation.
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White papersMacro views: Tightening expectations too aggressive as inflation likely to cool next year
A new coronavirus variant combined with hawkish comments from Fed Chairman Powell to the Senate Banking Committee soured market sentiment at the end of November.
