The Case for Financials: Macro-Driven Resurgence
This year we have favored financial stocks on the basis of earnings momentum, deregulation, a steepening yield curve and the value factor.
The Dollar and Emerging Markets
The U.S. dollar’s rally, underpinned by strong U.S. growth expectations and widening interest rate differentials versus other economies, has key driver of tighter global financial conditions. The dollar is a central transmission channel for financial conditions, as well as an important measure of risk appetite.
Factors + Alpha + Index
Yesterday’s alpha has been unbundled into market capitalization index, factors and alpha-seeking investments. What does this mean for investors? Is active dead? Of course not! But factors can enhance traditional portfolios by considering a third dimension of return.
The Case for Chinese Equities: A Shares Inclusion Update
We are constructive on Chinese equities despite tensions over trade. We see protectionist threats as largely negotiating tactics, while Chinese reforms, a stable growth environment and a solid earnings outlook support equities.
Emerging Markets: Keep an Eye on Reform
Economic reforms remain critical for emerging economies' attempts to successfully transition from low-wage industrial economies to high-skilled, consumption-based economies.
Italian Election Results: Populist Undercurrents
Italian general elections were held on March 4, 2018. The election results point to a hung parliament, with no party or coalition winning enough votes to form a government.
Italian Election Primer: Game of Coalition
Check out our primer on the March 4th General Election in Italy to learn about the potential political implications and possible market impacts.
A Country Picker's Market
Learn why the current environment may support country investing.
What the Yield Curve Can Tell Equity Investors
Parsing different yield curve regimes for clues on potential equity returns.
2018 Around the World: a Survey of Key Country Risks
The ETF Investment Strategy surveys key risks around the globe including trade policy, geopolitical tensions and reform efforts.
The Case for Financials in 2018
Learn why the U.S. financial sector may be poised for growth in 2018.
2018 Outlook Implementation Guide
We prefer to take economic risk in equities over credit given tight spreads, low yields and a maturing cycle. We expect increasing profitability to power equity returns, especially in Japan and emerging markets (EM).
From Reflation to Inflation
The U.S. economy is shifting from reflation to inflation – and we have greater confidence in inflation returning to its medium-term trend and the Federal Reserve’s target. Better wage growth and potential fiscal stimulus should cement this transition.
Potential Growth Opportunities in Healthcare
Potential Growth Opportunities in Healthcare. Learn why biotech and managed care industries are two examples where a focus on long-term trends may be rewarded.
What’s Next for Aerospace and Defense?
The aerospace and defense industry has captured investors’ attention following President Trump’s election, rising geopolitical tension and potential tax reform. What’s next? Learn about the fundamental drivers of growth in the aerospace and defense industry.