All United States articles – Page 30
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White papersHow could tighter bank lending impact growth?
In the latest instalment of Simply put, where we make macro calls with a multi-asset perspective, we consider how the banking crisis will impact the credit channel to the economy. How could a contraction in bank loans lower US GDP?
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White papersFixed income: performance drivers as peak rates approach
As the US rate-hiking cycle nears its zenith, two positive drivers for fixed-income investment are coming into view: stronger performance prospects for sovereign bonds and the return of the low correlation between duration and credit risk. In the Q2 issue of Alphorum, we assess these dynamics while providing new fundamental and portfolio-construction insights on fallen-angel bonds.
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BlogMoney, money, money: the Inflation Reduction Act
In the first of this two-part blog series, we review the impact of the Inflation Reduction Act on US real assets and consider how European governments might respond.
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White papersLower service productivity, higher inflation?
If there is one word that our media has been able to relay in recent months, it is inflation. Price growth was the market’s problem in 2021 and it has become the public’s problem in no time. Whereas in previous periods of rising inflation, the arrival of the topic in the mainstream media more or less marked the end of the problem – let’s remember the worrying inflation of the summer of 2008 or the first quarter of 2011– this time, it is quite different.
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White papersLabs: Specialized spaces offer growth in innovation
The global spotlight shines on the life sciences sector, thanks to record mobilization to deliver life-saving vaccines. This unprecedented success was the culmination of decades of research performed in just a handful of laboratory clusters in select cities across the U.S.
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PodcastOuterblue Talks Research - Financial stability concerns bring US recession concerns back to the fore
The banking turmoil of the past month saw the collapse of Silicon Valley Bank in the United States and the 160-year old Credit Suisse being taken over by rival UBS. While the big market swings triggered by these events have now subsided, economic scars appear inevitable.
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White papersIncome Generator: Beyond the Inflection Point
Volatility across the banking sector will likely mark an inflection point in policymakers’ current tightening cycle. We lay out five specific themes to help fixed income investors navigate the shifting markets.
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White papersA Solid Case for IG Credit, But Caution is Required
Against a backdrop of elevated uncertainty, IG corporate credit—with healthy corporate balance sheets and a relatively attractive total return potential—looks well-positioned.
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White papersPotential Opportunities in the US Banking Sector
Despite the failure of a handful of banks in the US and one in Europe, our view is that 2023 will not present a financial crisis near the magnitude of the Global Financial Crisis (GFC) in 2008. The three failed US banks, Silvergate, Silicon Valley and Signature, had unique business models that proved to be meaningful weaknesses. They raised concerns about firms with close financial ties to small banks, particularly speculative technology and related stocks, such as cryptocurrencies, that unwound when they were caught in a bubble.
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White papersTrump indictment: implications for US politics and assets
”The US political environment is highly polarised on Trump’s indictment, with some seeing this as being politically motivated.”
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White papersBanking crisis
The bank liquidity crisis in the US and decline of Credit Suisse in Europe have created market uncertainty which could reduce availability of credit for the real estate sector.
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White papersEmerging market equities – navigating a bumpy but attractive route
In 1990, developed markets accounted for just over 60% of global GDP and emerging markets for just under 40%.
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White papersAs Credit Goes, So Goes the Economy
Credit is the lifeblood of the economy, and the credit system just had a heart murmur.
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White papersStrong income and appreciation gains for U.S. timberland in 2022
U.S. private timberland property investments returned 12.9% during calendar year 2022, with annual gains in both income and capital appreciation.
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White papersHigh Yield: Charting a Steady Course Through Roiling Seas
Banking stresses added volatility to first-quarter markets already coping with rising rates and recession fears. Still, with corporate fundamentals sound, high yield investors and issuers are more cautious than fearful.
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White papersFourth quarter private real estate returns move negative
US private real estate returns went negative in Q4 2022 as the impact of higher interest rates continued to ripple through to market pricing and appraised values. This trend is expected to continue through the first half of 2023 with stability projected to return later in the year.
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White papersA tale of two markets: Contrasting the fortunes of European and US High Yield
The European High Yield (HY) market has outperformed the US market over the last five, 10 and 20 years. We compare the trends in charts and ask: Will this continue and what are the main similarities and differences between the US and European markets?
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White papersMacroeconomics, Geopolitics, and Strategy - April 2023
”The tightening in credit conditions should reduce core inflationary pressures, partly replacing the need for monetary policy action.”
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White papersFinancial stability concerns to tip the balance towards a US recession
Recent stress in parts of the banking sector will raise funding costs and reduce lending to many sectors. Now we expect the US economy to shrink by - 1.1% in 2023, driven by a contraction in domestic demand. Eurozone growth should stagnate amid inflation remaining high.
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White papersLiquidity, logistics and living: What next for real estate equity? - Aviva Investors
Opportunities are emerging across real estate markets in the UK and Europe, but investors will have to be nimble and discerning in their asset selection, say Imogen Ebbs and George Fraser-Harding.
