Featured Insights
Around the Curve
Trading Places: What Could Change Soon
Could rapid reversals be afoot in Congress, the Federal Reserve, and in the United States' leadership in global growth?
Market and Strategy Update
The Continuing Uneven Global Recovery
Our thought now is that the optimism for US growth is a bit overdone and pessimism around lethargic global growth rates has swung too far to the downside.
Continuing expansion
The Credit Cycle: Key Signals
None of the five early warning indicators tracked by Western Asset point to an end of this expansion phase of the economy.
Listed Infrastructure
Connecting The World: Airport Infrastructure
With the rise of air travel, airports have become essential to the functioning of societies. RARE Infrastructure makes the case for investing in listed companies that own airports.
Emerging Market Equities
The World's Largest Shopping Event
Since its launch in 2009, Alibaba’s Singles Day has become the world’s largest shopping event. This year it expanded to six South East Asian countries and set new sales records.
Chart of the Week
Courtesy of Western Asset, October 25, 2018. Source: Federal Reserve. as of August 31, 2018. Past performance is no guarantee of future results. Indexes are unmanaged, and not available for direct investment. Index returns do not include fees or sales charges. This information is provided for illustrative purposes only and does not reflect the performance of an actual investment.
Growth, Wages and Prices: Tough Calls
Chart of the Week
Market Snapshot
U.S. Producer Prices: Heating Up?
Producer prices could be a sign of rapid inflation ahead; UK had a growth spurt; Venezuela’s currency reset had little effect.
Featured Insights
Brexit Plan Panned, Oil Retreats
Latest Brexit plan sparks new political turmoil and sends the pound reeling; oil prices pull back sharply amid a glut in light crude supply; Japan's growth falters.
Mid Week Bond Update
Pound and Euro: Under Pressure
While the rising dollar has been getting all the attention, the British pound and the euro have been surprisingly resilient in the face of significant pressure.
Infrastructure and the Market Cycle End
Is listed infrastructure insulated from the end of a market cycle, and if so, to what degree? RARE’s co-chief investment officer, Nick Langley, explains the market drivers for these stocks.
U.S. Producer Prices: Heating Up?
Producer prices could be a sign of rapid inflation ahead; UK had a growth spurt; Venezuela’s currency reset had little effect.
Midterm Elections: Divided Congress Signals Gridlock
With control of the Senate and House now divided, and the prospects for a recession still muted, the S&P 500 should continue to march higher in 2019 -- with areas of potential opportunity for active managers in specific sectors.
Mid Week Bond Update
U.S. Rates: Sleeper Steepening
While some market observers worry about an overly hawkish Fed provoking recession, the U.S. Treasury yield curve appears to be sending a somewhat different message.
U.S. jobs: Nice!
October's jobs report was positive on all counts; U.S.-China trade deal rumblings; global oil prices fell as the U.S. embargo on Iranian crude came into effect.
Mid Week Bond Update
European Bonds: Ignoring Politics?
Economics took a back seat to politics in European market last week.
Around the Curve
Accounting Fraud: The Signs
The difference between “aggressive accounting” and “fraud” can be unclear; most cases of “aggressive accounting” are simply that. Here are some signs that can help tell the difference.
Contagion Contained
It’s been a challenging few months for emerging markets (EM). Unsurprisingly though, as active fundamental managers we see the dislocation between negative market reactions and the actual long-term drivers of growth in the asset class as a compelling opportunity.
All investments involve risk, including loss of principal. Past performance is no guarantee of future results. Please see each product’s webpage for specific details regarding investment objective, risks associated with hedge funds, alternative investments and other risks, performance and other important information. Review this information carefully before you make any investment decision.
