All United States articles – Page 61
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White papersWill COVID-19 lead to sustainable change?
The COVID-19 pandemic has led the world into the largest social distancing experiment in history. A USD 2 trillion US government stimulus programme and US Treasury yields below 1% are all the result of the crisis. In addition, oil prices have fallen to below USD 20 a barrel as demand destruction has exacerbated the effects of a collapse in OPEC’s pricing policy. Will the world go back to ‘status quo’ when we exit this dislocation? Probably not. We believe the learnings from the ‘go-remote’ experiment are here to stay. The implications for the future of energy, real estate, work, education, health care delivery and so forth are vast.
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White papersA Lot Of Bad News Already Priced In US Assets: A Gradual Approach To Exploit Market Dislocations
The US economy has entered a recession, induced by the social distancing and quarantining measures introduced to tackle the pandemic crisis. To monitor how deep the recession will be, we use both traditional macroeconomic data (eg, weekly retail sales, jobless claims) and big data (e.g., dining out, travel and box office sales, travel numbers and google searches for ‘recession’ and unemployment statistics). Both sets of variables suggest an unprecedented collapse in domestic demand.
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White papersInvestment Grade Credit: Open For Business
The new-issue market remains available to investment-grade corporate credit, thanks to the swift and sizable monetary support from the Federal Reserve.
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White papersHigh Yield Market Update: Volatility Persists
Christopher Kocinski, Neuberger Berman U.S. High Yield Senior Portfolio Manager, discusses the factors that have contributed to the volatility in the non-investment grade credit market and how his team has adjusted portfolios as spreads have widened.
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White papersMacro Insights and Asset Allocation
Erik Knutzen, Chief Investment Officer – Multi-Asset Class Strategies, discusses the impact of last week’s Fed actions and stimulus package along with how this decline is different than 2008 in terms of markets and investment implications.
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White papersUS high yield: market volatility update
Markets including high yield remain unsettled as the difficulties of forecasting this unprecedented pandemic and the associated individual, company and government responses continue to develop. The purpose of this update is to provide some context on what is happening in US high yield and to frame a few things that we expect going forward.
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White papersUnique Disruptions, Exceptional Measures
As we argued in our previous piece detailing the Fed’s 100bps cut and increased asset purchases, although the Fed had unloaded countless rounds of ammunition, additional firepower remained.
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White papersUS Economic Scenarios in Context of Covid-19
Given the fluid and fast-moving nature of the pandemic, calculating the impact to growth is challenging, but global agencies, including the IMF, are increasingly concerned that the world is likely to face a recession.
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White papersBeyond the CBD: Sweet Spots In the Urban Fringe & Suburbs
The COVID-19 pandemic is unexpected and still rapidly developing globally which will impact the U.S economy and commercial real estate investments. The duration, scale and severity of the outbreak are still unknown. This report represents the views of Clarion Partners as of March 2020 and does not address any impact or potential impact of the pandemic.
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White papersEmergency Landing to the Zero Bound
Two weeks after reducing its policy rate by 50 bps to 1.25%, the Federal Reserve met Sunday in lieu of its scheduled meeting on March 18th and cut rates by a further 100 bps, effectively returning to the zero lower bound. The central bank also announced a host of other measures aimed at supporting the financial markets, and by extension, the real economy.
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White papersNovel coronavirus impact on U.S. commercial real estate
As a leading investor in all four quadrants of commercial real estate, Principal Real Estate Investors is uniquely positioned to assess relative value across the market. With heightening concerns regarding the spread of the novel coronavirus, we wanted to share our current thoughts on the potential impact on U.S. commercial real estate markets. The story is continuing to evolve.
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White papersUS Equity Valuations Rebooted by Coronavirus
After recent sharp declines, US stock valuations look more attractive, especially compared with bonds. While the current volatility is unsettling, heightened uncertainty over earnings because of the coronavirus crisis could create opportunities for long-term investors who distinguish between winners and losers from the shock.
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White papersFed May Cut Rates Further to Counter Coronavirus Headwinds
This week’s Fed rate cut helped steady financial markets reeling from the expected impact of the coronavirus on the US economy, and we think more cuts are coming—in March and beyond. The economy should rebound in the second half of the year, though at a lower full-year pace.
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White papersSuper Tuesday: Why It Is Important And What To Expect For Us Assets
On 3 March, 14 US states will hold primaries for the Democratic presidential nomination. Following Senator Bernie Sander’s good start and Senator Joe Biden’s landslide win on 29 February, the field is now narrowed to a two-person race.
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White papersChecking in on BBBs
Improved credit conditions are reflected in spreads, but volatility may create opportunities.
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White papersFocal Point US outlook: a soft landing supported by the Fed
We expect the US economy to cool this year. Growth will likely ease from 2.2% to 1.6% because of the full effect of tariffs becoming effective during the first half of the year. The lagged impact of the 2019 rate cuts and that of the additional reduction we expect for Q2 will engineer a soft landing of the economy, despite still substantial headwinds. The Fed will take big steps to adapt its monetary policy strategy to a low-inflation, low-interest rates world. The broad view of this strategy should be clearer by summer, but the dovish bias it will most likely produce will be welcomed by markets.
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Asset Manager NewsGreystar Announces First Ground-Up Development Project in Boston
Acquisition of 212 Stuart Street Development Expands Greystar’s Northeast Presence Brings Unique and Luxurious Multifamily Design to Prestigious Urban Neighborhood
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White papersSpectrum Asset Management Outlook for 2020
Some macro risks—such as Brexit—appear to be de-escalating, but uncertainties continue; trade war negotiations are likely to overhang sentiment into the United States election.
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White papersEconomic Resilience, Fed And Elections To Drive Us Markets In 2020
2019 proved a strong year for US assets, with US equity markets recording the strongest annual total return since 2013 and the US aggregate bond index up almost 9.0%. In addition, the past decade proved the best ever for the S&P 500 index, which returned 256% overall, well above its historical average. It was also the decade when US equities dominated other markets, with an outperformance of more than 90% versus the MSCI World index.
