White papers - all assets – Page 256
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White papers
Market weekly – Quality will withstand volatile equity markets
Senior investment strategist Daniel Morris and Guy Davies, Chief Investment Officer active equity strategies, discuss the outlook for equity markets.
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Volatility Update: Swings in Sentiment Keep Volatility Levels Elevated
Derek Devens, Neuberger Berman Option Group Portfolio Manager, talks about continuing volatility, the factors that could steer it one way or another and the potential implications for Options investors.
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How will dividend stocks respond to COVID-19?
The volatility fueled by the coronavirus outbreak is reminiscent of prior periods of market stress in which investors worried that dividend-paying companies would decrease or suspend their payments.
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Coronavirus and market implications: what’s next?
As the coronavirus continues to spread around the world, so too does economic uncertainty and global financial market volatility. Watch the latest views from Brian Nick, Chief Investment Strategist, about how to navigate this environment and what to expect.
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Risk Parity and the Fallacy of the Single Cause
Were risk parity strategies really the cause of the recent correlated stock and bond market sell-off, or one of its victims?
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Protective and Proactive
Liquid alternatives and private market investors are proving their worth during the current turmoil.
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SDG Engagement Equity Strategy update: April 2020
The Hermes SDG Engagement Equity Fund aims to balance positive impact through engagement while enhancing long-term shareholder returns.
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European Fixed Income Market Update
In this video, Investment Grade European Fixed Income Head, Patrick Barbe provides an update on current conditions across bond markets, explaining what he believes marks an important turning point in the current situation.
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Playing The Possible Sequence Of Market Normalization Gradually And Selectively
As the Covid-19 virus spreads, investors can assess the potential sequence of market opportunities that will emerge from the crisis. The perceived features of the cycle of the coronavirus and the effectiveness measures taken locally to contain it are starting to drive allocations. A new market theme of Covid-19 de-synchronisation is emerging, a typical example being the long Asia.
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Will 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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In Praise of Dollar Dominance
This crisis would likely be much worse without its conjurers at the Fed.
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Policy Makers Keep the Pedal to the Metal
Record-high initial claims show lingering unemployment pains, the oil deal spurs trading and governments continue incubating new fiscal stimulus packages to keep the global economy alive.
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Significant risk transfer (SRT) credit opportunities
Apart from very specific parts of the SRT market, such as social housing and capital call facilities, most SRT deals are exposed to corporate or consumer risk. We expect defaults to spike in the short term in most transactions, with greater variability in corporate deals than in consumer deals.
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A 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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Coronavirus – Weekly update – 08/04/2020
This blog is the second in a series of weekly updates on our COVID-19 strategy: our assessment of the virus itself and the public health approach for containing it; the economic cost of dealing with the pandemic and the policy responses to mitigate the damage; and ultimately, the implications for financial markets and investment strategy.
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2020 versus 2008: What’s changed for European infrastructure debt?
Infrastructure debt is not immune to a severe economic downturn, but the global financial crisis has left the asset class stronger. We explain why.
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Covid-19 update: European high yield market moves
March was a rollercoaster ride for European high yield investors. The market had fallen 20% by the middle of the month, and had recovered to be down 15% since the start of the year as of 5 April.