All United States articles – Page 19
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White papersThe Fed’s dilemma
Recent inflation numbers are in line with a short pause in the path towards the Fed’s target, yet bond yields have moved sharply higher since the Fed’s big cut. Medium-term inflation expectations – including FOMC member expectations – have moved higher (see chart), but most of the increase in ten-year yields since the election reflects a rise in real rates.
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PodcastOuterblue Convictions – Global Investment Views – Goldilocks ahead of new Trump presidency
2025 got off to a dramatic start with an unexpected jump in bond yields. What has been driving this move and do we expect it to continue? Swaha Pattanaik and Monica Defend, Head of Amundi Investment Institute, explain what’s been happening in the US and UK and explore what these mean for our growth and interest rate forecasts.
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White papersFixed income perspectives 1Q 2025: Finding opportunities in a dynamic global environment
Fixed income markets are navigating diverging central bank approaches, presenting both opportunities and challenges for investors. With elevated yields, robust credit fundamentals, and selective opportunities across asset classes, fixed income offers an attractive landscape heading into the new year.
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White papersTrump 2.0: Back to the Future?
By the end of this month, President Trump will enter the White House for his second term with an economic backdrop quite different from that of his first term. While the policies he advocates for are of a similar style this time around, the entirely different economic situation mean that those policies may have a different effect than they would have had in his first term.
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White papers2025 CEO outlook: Is the US market too good to be true?
As the US prepares for a political changing of the guard, our CEO shares his thoughts on where he sees markets opportunities and the potential risks for investors in 2025.
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White papersGrowth, Inflation and Equity Markets
We anticipate a supportive U.S. growth and inflation environment in 2025, but equity investors may not benefit from it by simply tracking the S&P 500 Index.
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White papersIn the Balance
We think easing inflation and a pro-business policy environment will support above-trend growth in 2025, but the balance is delicate with risks piled up on both sides.
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White papersFixed Income Investment Outlook 1Q 2025
With inflation continuing to improve, the downward path of central bank rates remains on track, if uneven geographically given U.S. economic strength. Now, amid political turbulence, attention is shifting toward fiscal issues— spending and tax policy—that could affect issuance patterns and yields, particularly at the longer end of the curve. We are constructive on fixed income for 2025, seeing potential in shorter durations and in optimizing carry amid narrow credit spreads. At the same time, the unpredictability of political cycles could make for an eventful year that requires vigilance in guarding against risk.
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White papers2025 investment landscape: Q&A with our CIOs
The December CPI print delivered a much-needed downside surprise, relieving some of the market anxiety that the U.S. economy is at the beginning of a second inflation wave. Annual headline inflation picked up to 2.9%, but, more importantly, annual core CPI dipped to 3.2%, with the pace of monthly core inflation slowing for the first time since May last year. For the Fed, today’s print is certainly not enough to prompt a January cut. But, it does keep hopes alive that the Fed’s cutting cycle still has some room to run.
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White papersDecember CPI: Keeping rate cut hopes alive
The December CPI print delivered a much-needed downside surprise, relieving some of the market anxiety that the U.S. economy is at the beginning of a second inflation wave. Annual headline inflation picked up to 2.9%, but, more importantly, annual core CPI dipped to 3.2%, with the pace of monthly core inflation slowing for the first time since May last year. For the Fed, today’s print is certainly not enough to prompt a January cut. But, it does keep hopes alive that the Fed’s cutting cycle still has some room to run.
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White papersEquity Outlook - Defying gravity
The US economy enters 2025 in a strong position, with above-trend growth, but also above-target inflation. This combination, while positive for equities, is not sustainable. The question then is how quickly and in what manner growth and inflation revert to trend.
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White papers2024 timberland investment performance set to meet or exceed 2023
Last year’s U.S. private timberland investments look likely to overtake their previous year’s performance. As we await full-year reporting inclusive of annual valuations through appraisals or market transactions, this performance could offer an indication of what to expect for 2025.
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White papersThe Year Ahead for Bond Markets
Why we think 2025 presents a favorable backdrop for fixed income investors, despite the potential for rising volatility.
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PodcastSmall Caps, Big Opportunities
U.S. Small Cap equities are at a critical juncture. Not only has the valuation gap between Small and Large-Cap stocks grown exceptionally wide by historical measures, but numerous Small-Cap macro tailwinds also appear to be gathering force. So, why is active management crucial for navigating this segment? How are reshoring and deglobalization trends influencing these companies, and what does the year ahead have in store for Small Caps.
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White papersEquity Market Outlook 1Q 2025
We believe a strong economy, rebounding industrial activity, improving liquidity and rising animal spirits should continue to support corporate earnings growth and a broadening of the U.S. equity market in the coming year.
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White papersU.S. equities: Climbing the valuation wall
Investors enter 2025 with cautious optimism following a stellar 2024 for equities, as stretched valuations and elevated bond yields pose near-term challenges. Despite these potential headwinds, strong earnings growth remains the driver of market performance—if earnings deliver as expected, equities are likely to remain biased higher.
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Asset Manager NewsInvesco appointed as investment partner for Legal & General’s Private Markets Access Fund
Invesco Real Estate, the £67.2bn global real estate investment business of Invesco Ltd. (NYSE: IVZ), has today announced that is has been appointed by Legal & General’s Private Markets Access Fund to provide real estate exposure in the US and Asia.
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WebinarTrump-starting the global economy
Concerns over US policy and China’s stalling economy will be key to the 2025’s global economic outlook. But while there are numerous uncertainties, we believe the picture remains favourable for both bonds and equities.
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White papersRelative Value & Tactical Asset Allocation Q1 2025
Although the uncertainty of the U.S. election is over, uncertainty regarding the prioritization of announced policies creates a broader range of possible outcomes in 2025. An anticipated deregulatory environment should be positive for overall growth, while tariffs could work against global economic activity and temporarily boost inflation pressures.
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White papersBuying bonds: January macro and asset class views
2024 marked the fourth consecutive year of rising US yields, for the first time since the early 80’s. We have been patient in recent years going overweight duration in our multi-asset portfolios as we have persistently viewed the risks to US nominal growth relative to consensus expectations as skewed to the upside.
