All United States articles – Page 64
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White papersFixed Income: Upending the Conventional Approach
The search for yield trudges on amid trade and tariff clashes, and a credit cycle that continues to surprise in its longevity. In this Q&A, Michael Freno, Head of Global Markets, shares his views on where value can still be found and how investors can benefit from looking beyond traditional indexes in high yield, investment grade credit and emerging markets debt.
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White papersCross Asset Investment Strategy - June 2019
After weeks of relative stability, the threat of a trade war has returned, shaking investor confidence and awakening markets from complacency. However, while there is still a significant optimism in the market that a deal can be struck, we believe that the risk of disappointment leading to another wave of volatility remains significant.
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White papers
The 2020 US Presidential Election: Another Close Race?
President Donald Trump’s performance on the US economy gives him a significant advantage over his Democratic rivals heading into the 2020 election. However, Trump has consistently polled poorly with voters on character issues including leadership, temperament and management skills. The potential fallout from the Mueller report and ongoing House ...
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White papersHow will the world respond to the next economic crisis?
The longest US economic expansion on record spanned a decade from March 1991 to March 2001. With the country’s current period of sustained growth poised to surpass this 10-year record in July, we examine the possible response to the next crisis.
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White papersHigh Yield: Oasis In Search For Yield?
Since early 2016, US HY default rates have experienced a sort of “mini –cycle”, peaking at the end of 2016. Nevertheless, the recent rise and fall movements appear mostly commodity driven: default rates would have remained fairly stable if energy and material sectors were excluded from calculations.
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White papersRedefining Value: A Modern Definition
Performance leadership in the decade long U.S. equity market cycle is and continues to be growth stocks. Value has significantly underperformed for several years. Principal proprietary factor timing models signalled an opportunity for value exposures in December and we believe it is time to discuss portfolio implementation to take advantage of the potential value opportunity.
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White papersUS-China trade: continuing the talks while making the war
In our opinion, investors should dismiss the idea that talks could break down, albeit uncertainties remain. Recent work has focused on details and wording, with the majority of the agreement document having been completed. However, several major issues remain, and on these it is largely up to Trump and XI to make final decisions.
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White papersHigh Yield: Identifying Value Amid Shifting Sentiment
In this Q&A, David Mihalick, Barings’ Head of U.S. High Yield Investments, discusses the volatile swings in investor sentiment that high yield markets experienced over the last two quarters, and where the Barings team is seeing value today.
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White papers
Think Tank Points to U.S. Growth Slowing
Anxious about the U.S. economy? The Conference Board think tank is pointing to growth slowing to 1.5-2.0% but there are no imminent signs of a recession.
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White papersRethinking the Fed’s policy framework
The dovish turn in March 2019 is unprecedented and inconsistent with the Fed’s remit.
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White papersHigh Yield: Identifying Value Amid Shifting Sentiment
Despite the sharp turns in high yield markets over the past two quarters, companies ticked along without flinching—posting strong earnings over the course. David Mihalick, Barings’ Head of U.S. High Yield Investments, explains why.
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White papers
High Yield Bonds & Loans: Where to Next?
High yield markets roared back in the first quarter. Can market fundamentals and technicals support continued strength? And how should investors factor in risks ranging from possible recession, to ratings downgrades, to liquidity concerns? Barings’ David Mihalick weighs in.
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White papers
Fed's Five Critical Issues
The Fed is facing five issues that could play a key role in its forward guidance on monetary policy, chief among them being the trade war and the economy.
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White papersThe Case for China Logistics
China’s logistics sector is anchored by the country’s large population and economic base, and its domestic long-term fundamental growth drivers, despite the rise of global trade protectionism.
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White papers
Treasury Options Skews: Investment Signals or Noise?
Nearly all options markets exhibit some kind of natural skewness. For example, out-of-the-money (OTM) put options on equity index futures are typically cost more than OTM call options as investors typically fear a sudden fall in stock prices more than a sudden rise and, hence, are willing to pay more for protection to the downside than upside.
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White papers
Portfolios and Investing: If/When “Winter” is Coming?
Did the Fed over-tighten monetary policy with its nine rate hikes, paving the way for an investment ‘winter’ in equities and bond markets?
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White papersRedefining Bank of America: an era of responsible growth
Bank of America has slashed costs and tightened risk controls in recent years as it moves on from its crisis-era legacies. In this case study, we examine the bank’s conservative approach and our decade-long engagement with the company.
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White papersPolitical Brinkmanship
Could U.S. political brinkmanship cause a government shutdown and technical debt default, putting the economy at risk in the fourth quarter?
