Commentary

The Outlook for Income: Balancing Rates and Credit in 2023

When we think about generating income for our clients, for over 30 years we’ve thought the most efficient way to do this is to blend the two key risks of fixed income into one portfolio.

Commentary

Weakening Growth Outlook to Eventually Favor Euro Rate Risk

European policymakers face a dilemma: continue to hike interest rates to combat inflation or ease off to stimulate growth.

Commentary

Healthcare Stocks: An Innovative Antidote for Volatile Times

Healthcare stocks have remained in vogue through volatile markets, driven by increased interest in the sector during COVID-19.

Commentary

European Fixed-Income Outlook: Stay High Quality in 2023

European bond-market performance was among the worst on record in 2022, as Europe ran the gamut of geopolitical, economic and market storms.

Commentary

Global Macro Outlook - First Quarter 2023

After a year defined by inflation and the policy response to it, we expect 2023 to be a year of transition.

Commentary

Are Small-Cap Stocks Further Along the Road to Recovery

Small-cap companies are usually the most vulnerable to volatility, with their stock prices and earnings getting hit particularly hard and early in economic downturns, much like what occurred in 2022. Yet they also tend to lead the way on both fronts during recoveries.

Commentary

Carbon Handprint: It's What Firms Don't Do That Counts

As global warming worries approach critical mass, corporate bond investors expect issuers to be part of the solution.

Commentary

Can European Credit Ride Out the Storm?

As Europe struggles with war, costly energy, record inflation and slowing growth, it’s no surprise that European corporate credit is out of favor.

Commentary

Global Stocks: Look Beyond Home Base to Find Growth

In this year’s global economic crisis, no two regions are having identical experiences. While inflation rages across much of the world, price rises have been more moderate in some countries than others. Similarly, the scale of rate hikes and the degree of recession fears aren’t uniform.

Commentary

What's Behind the Drop in Treasury Market Liquidity?

With the year winding down, investors might think they’ve seen it all. But one element of market dysfunction that’s largely flown under the radar is increased friction within the US Treasury market. Treasuries are experiencing a liquidity decline on the back of economic uncertainty and higher volatility, with large blocks of government debt increasingly hard to trade.

Commentary

Three Income Themes for Multi-Asset Investors in 2023

In one of the most challenging years for markets, 2022 brought persistently high inflation, aggressive central bank tightening and heightened geopolitical risks, leaving investors with few places to hide.

Commentary

From Fear to Hope

After a tough year for equities, is a recovery imminent?

Commentary

It’s Not Different This Time—You Are!

What a difference a decade makes!

Commentary

10 Reasons to Stay Invested in Equities

Equity investors have sustained significant losses this year and are facing a long list of new uncertainties.

Commentary

Rates and Stocks: How Low Can Valuations Go?

Equity valuations have fallen substantially as central banks hike interest rates to combat inflation.