White papers - all assets – Page 327
-
White papers
Opportunities ahead in Asia EMs, despite increasing geopolitical tensions
EM Asian economies outlook has been improving and it’s expected to mildly improve further. We closely monitor geopolitical risk in the region.
-
White papers
Economic Insights: September 2017
Global expansion stays on track: The global economic recovery that began in early 2016 has reached a self-sustaining velocity.
-
White papers
In Credit: Corporate bond spreads tighten to post GFC lows
It was a fairly astonishing week in terms of news, though core bond markets were not much moved after the sell-off of recent weeks. Firstly in Europe, the ever-present issue of political cohesion was on the agenda again.
-
White papers
Catalonia crisis: Limited impact on European financial assets
“We expect the volatility on bonds generated by the Catalonia crisis to be short lived”
-
White papers
Value resurrection on pause, but for how long?
Value investing has had a tough decade of underperformance. This seems to have led many investors to ignore the extensive research showing how value investing outperforms the market over longer time horizons, and today many are under-allocated to value stocks. However, history suggests that periods of value underperformance always end – and often they end abruptly - as we saw last year. The question is whether the factor rotation seen in the second half of 2016 was a one off event, or the beginning of a more sustainable comeback.
-
White papers
The Quest for Diversification: Why Does It Make Sense to Mix Risk Parity, Carry and Momentum Risk Premia?
Diversification should be the first objective of any large institutions because managing risk is a key source of long-term performance.
-
White papers
German Elections: Investment views
The prospects for the German economy will not change dramatically, although there will be a moderate fiscal stimulus.
-
White papers
Will the reshuffling of the FOMC change the monetary policy outlook in the United States?
Donald Trump should announce in the coming weeks his choice for the post of chair of the Board of Governors.
-
White papers
Consistent Returns in a Changing World: Managing Political Risk Across Developed Market Equities
A powerful cocktail of economic headwinds, disparities in income between rich and poor, polarisation in beliefs and sporadic ‘lone wolf’ terrorist attacks has conspired to destabilise the political landscape across much of the developed world. Recent elections and referenda have had unforeseen results. Anti-establishment sentiment has flourished. Over recent years political risk has become accentuated, and has arguably not been so acute for a generation. Many of today’s active equity managers investing in developed markets have not faced the challenge of managing such specific political risks before in their investment careers.
-
White papers
Cross Asset Investment Strategy: Fed & ECB - Towards a reduction in monetary accommodation
The improvement of global economic conditions will allow the Fed and the ECB to reduce the degree of monetary accommodation, each with its own scale: continuation of the fed funds rate hike cycle for the Fed and reduction of asset purchases for the ECB.
-
White papers
What higher bond yields may mean for corporate bond valuations
Both US and European credit markets have delivered a fairly positive yearto- date performance; supported by falling political risk, excess returns versus underlying government bonds proved to be particularly strong for EUR corporate bonds in the second quarter.
-
White papers
US HY default rates: trends, projections and perspectives
The current low default rate regime of US HY issuers is the longest in recent decades and has also survived the latest commodity-driven mini cycle: the latter is close to its end and short-term expectations point to a further fall of the DR to around 3% in the coming quarters.
-
White papers
Markets underestimate Fed’s ability to hike rates
Financial markets remain cautious about the ability of the Fed to hike the fed funds over the coming quarters: indeed, a majority of investors expect, at best, a single hike until the end of 2018. We think that this view is too pessimistic.
-
White papers
Election in Germany: Continuity...but mind a few details
The polls predict a clear victory for Angela Merkel’s CDU/CSU but several government coalition scenarios are possible.
-
White papers
Currency Management: The Case for Value Investing
William Blair’s Dynamic Allocation Strategies team explains how it has made significant use of dynamic currency management in the pursuit of its investment performance objectives.
-
White papers
What Does QE in Reverse Mean for the US Economy?
The long-anticipated unwinding of quantitative easing in the US is set to begin, just as the Fed’s leadership faces a wave of turnover. We think a strong foundation should keep steady US economic growth on track.
-
White papers
Cross Asset Investment Strategy: September 2017
Find the latest edition of Amundi Research team’s monthly publication.
-
White papers
Global Investment Views: September 2017
CIO views: High conviction ideas from Amundi Global Investment Committee
-
White papers
Cross Asset Investment Strategy: The euro’s appreciation - causes, outlook and consequences
The euro remains undervalued according to the majority of valuation models and is boosted by a domestic economy that has strengthened considerably since the beginning of the year.
-
White papers
Investment Talks: ECB on hold, but more details on what's next
The perspective of a turnaround in monetary policy is not going to vanish, and the tapering topic will be back probably sooner than later.