Featured Insights


Chart of the Week

Source: Bloomberg, as of 8/31/16. Past performance is no guarantee of future results. An investor cannot invest directly in an index. Unmanaged index returns do not reflect any fees, expenses or sales charges. This information is provided for illustrative purposes only and does not reflect the performance of an actual investment.

US economy: Help wanted

The low labor force participation rate helps explain why the Fed is cautious about raising rates even with a 4.9% unemployment rate.

Market Snapshot

Broken arrow: Abenomics and the Bank of Japan

Hitting the target with an empty quiver?

Japan tries to jumpstart growth with a new twist; the Fed holds hawkishly; and OPEC stalwart Venezuela imports oil from the U.S., its arch-enemy.


Insights

Investment Insights
Sep 26

U.S. economy

The Myth of Full Employment

Current unemployment data may not be as encouraging as they seem, thanks to younger workers’ lower participation in the labor force.

Market Snapshot
Sep 23

Hitting the target with an empty quiver?

Broken arrow: Abenomics and the Bank of Japan

Japan tries to jumpstart growth with a new twist; the Fed holds hawkishly; and OPEC stalwart Venezuela imports oil from the U.S., its arch-enemy.

Market Outlook
Sep 21

Mid-Week Bond Update

Japan twists, Fed doesn’t shout

Global bond markets gave a lukewarm welcome to the Bank of Japan’s new approach to monetary policy, but cheered the US Federal Reserve leaving rates on hold.

Market Snapshot
Sep 16

Watch what they say, not what they do...

The Fed: Watch the words, not the numbers

Fed-watchers will be focused on the week's press conference and the wording of the accompanying announcements, looking for signs of shifting consensus among the voting members of the FOMC. A looming question: are the world's central banks backing away from monetary cures for ailing world growth? Meanwhile, the oil glut deepens as world demand softens and the taps stay open.

Market Outlook
Sep 14

Mid-Week Bond Update

ECB spoils bond party

Global bond markets plunged over the past five trading days after the European Central Bank (ECB) refrained from expanding its monetary stimulus programme. Investors, who have enjoyed a years-long bond rally supported by loose monetary policy in the US, Europe and Japan, now fear the stimulus packages may be coming to an end: the US Federal Reserve (Fed) has repeatedly signalled its willingness to raise rates this year; the ECB stayed put last week, and the Bank of Japan is reviewing its own programme.

Market Outlook
Sep 09

Martin Currie on global equities:

World Tour

Despite challenging conditions in many world markets, Martin Currie remains committed to unearthing value for investors. Whether in Asia, Japan, Europe and Emerging Markets, there are companies whose future prospects may be out of step with current valuations – and potential opportunities for gain as time unfolds.

Market Snapshot
Sep 09

Draghi: Steady as she goes

European Central Bank: If not now, when?

Was Mario Draghi simply being optimistic about Europe's prospects -- or sending a message to Europe's governments about the need for fiscal measures? Meanwhile, U.S. job demand was strong earlier this summer, Swiss insurers are starting to cover physical cash due to negative rates, and tin shorts are getting squeezed.

Market Outlook
Sep 07

Mid-Week Bond Update

Soft data damps bets on US hike

Global bond markets cheered a battery of soft US data - manufacturing, services, home prices and job growth -, which dampened market-implied expectations of a rate hike later this month. Tuesday’s non-manufacturing August survey came in especially weak: it was the largest single-month decline since 2008 and the lowest level since 2010. The US dollar sank and, once again, prospects of lower-for-longer interest rates pushed up traditional risk assets, such as Emerging Markets (EM) and High Yield. Most corporate spreads tightened, while US loan prices continued to rise after default data hit a 17-month low in August. In Europe, a French drug company and a German maker of detergent and other household goods sold bonds at negative yields – the first European companies to do so outside the financial sector.

Market Snapshot
Sep 02

Slim pickings in the August jobs report

US jobs and the Fed: Ho hum

Despite the slight disappointment, markets seemed to say there wasn't enough to go on in the latest figures to tip the odds in favor of a September rate hike. Meanwhile, container shipping may be having its Lehman moment, and the IMF is lobbying for fiscal largesse at the G20 summit.

Investment Insights
Aug 30

Trends in investment real estate:

The Rise of "Creative Office"

Office spaces designed to facilitate creativity and collaboration should compete successfully against traditional properties going forward, note Rick Schaupp and Bohdy Hedgcock of Clarion Partners.

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