White papers - all assets – Page 192
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White papers
Market Scenarios and Risks - May 2021
We note progress on the vaccine front despite logistics and side effects issues. In our central scenario, equities outperform on the back of abundant liquidity, improving fundamentals and accommodative monetary policy.
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A deep dive into ECB stimulus and its support for Euro fixed-income markets
March saw ECB increasing its PEPP purchases and injecting higher than expected liquidity through a successful TLTRO tender.
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Geopolitics of the vaccine
Eighteen months after the first Covid-19 cases hit China, the outbreak is still uncontrolled globally and remains the main source of economic uncertainty outside Northern Asia. As long as there is no treatment, access to effective vaccines is the main factor in returning to a ‘normal’ life.
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Car makers under scrutiny in EOS’s Q1 Public Engagement Report
The Q1 Public Engagement Report from EOS at Federated Hermes focuses on the car market, where instead of making real progress towards Paris Agreement goals, many auto manufacturers are exploiting offsets and loopholes to meet EU emissions standards.
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5 Growth Themes Shaping the Future
New technologies can unleash a cascade of growth across multiple industries, and we expect a number of growth themes to gain the attention of investors in the decade to come. Here are five of them.
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Equity market drivers – Passing the baton
Equity markets have gained from the drop in interest rates engineered by central banks as well as large-scale government aid programmes, taking valuations to 20-year highs.
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Green News & Views: REPM Multi-Manager Infrastructure’s 5 pillars for responsible investing
Infrastructure and ESG: two sides of the same coin
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REITS and Rates
History suggests that real estate securities can be an attractive investment if you expect inflation and rates to go higher.
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Post-Crisis Investing for the Long Haul
After a series of unprecedented events in the global economy, triggered by the COVID-19 financial crisis, investors and economists alike may see themselves at quite an inflection point in the markets.
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Coiled Spring
Exceptional garden pinks and yellows mark the arrival of seasonal spring, but the world’s economic data outline a “coiled spring”.
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White papers
Inflation: Preparing your portfolio for the surge
After falling to almost zero during the height of the COVID-19 pandemic, the rate of U.S. inflation is on the rise. To navigate the current market environment, today’s investor must understand how quickly the United States economic recovery will generate inflation, how long that inflation will be sustained, and what investment implications follow.
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Podcast: Expectations for Economic Growth, Rates and Inflation
Multiple leadership and diverse views steer how we invest in our global economy.
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2021 Recovery to continue and beat potential
We confirm the financial “recovery regime” as a central scenario (with a 70% probability) for the next 12 to 18 months, with growth and macro determinants remaining paramount.
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The end of the Great Moderation and the return of volatility
Since the mid-1980s, the macroeconomic volatility has declined to a postwar low.
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* For long-term profitability, inclusive growth matters *
Companies focused on inclusive growth could stand to benefit in the long run. Investment specialist Ramon Esteruelas and environmental, social and governance (ESG) research analyst Delphine Riou explain why and how investors can target this theme.
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Pausing for Breath on ‘Peak Growth’
Rates of change in economic data may be hitting their peaks, but that need not preclude more long-term upside for risky assets.
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Absolute return – An absolute must in fixed income
Classical fixed income is already a source of ‘return-free risk’ in this post-pandemic economy awash with central bank stimulus. Reflationary expectations have expedited the rise in interest rates and aggravated the challenges faced by traditional fixed income strategies and indices.
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Insurance Summit: Partnering for Positive Change
Climate protection and opportunities: how to integrate holistically across insurance portfolios
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Five key themes in energy credit
In credit markets, energy was one of the most volatile sectors in 2020, with oil futures trading in negative territory for some time.
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A Few Sparks & Lots of Smoke—But Still No Sign of a Fire
As investors search for signs of uncontrolled inflation, it’s hard to see anything more than you’d expect in a strong cyclical recovery.