Featured Insights


Chart of the Week

Source: Bloomberg, as of 7/31/2017. 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. 

Market Snapshot

Tug of war over global oil

Supply, demand and price

The world’s crude-oil supply continues to grow, despite OPEC’s moves to control it; Venezuela’s “hunger bonds” problem; U.S. employers hang on to their most important non-renewing resource


Insights

Market Outlook
Aug 16

Mid-Week Bond Update

Risk wins lost decade

The poor week that traditional fixed income risk assets are having doesn’t resemble their story for the past ten years: In the month that marks the tenth anniversary of the outbreak of the global financial crisis, sectors such as...

Investment Insights
Aug 15

Around the Curve

Synchronized Earnings Growth and Leveraged Finance Markets

The synchronized recovery in global earnings finally appears to be here. Every major market region in the world is now seeing significant earnings growth. Are there still opportunities in global high yield?

Investment Insights
Aug 15

Managed Munis: The Value of Choice

Active management is critical for municipal bond investors today.

Investment Insights
Aug 14

ESG in Emerging Markets

Lost in Translation?

Given the higher levels of risk and return associated with investing in emerging markets, governance and sustainability analysis is critical. Investors are generally not able to rely on the same level of regulatory or legal protection as in developed markets. However, when it comes to analyzing environmental, social and governance (ESG) factors in emerging markets, developed-world methods often don’t translate.

Market Snapshot
Aug 11

Supply, demand and price

Tug of war over global oil

The world’s crude-oil supply continues to grow, despite OPEC’s moves to control it; Venezuela’s “hunger bonds” problem; U.S. employers hang on to their most important non-renewing resource

Investment Insights
Aug 11

Global Emerging Markets

The case for active management

Emerging markets look well placed to outperform developed markets as profitability recovers. That said, the growth outlook across these markets is asymmetric in nature. Demographic and political trends are also widening across the asset class. With that in mind, investors need to think carefully about how best to access the long-term growth story these markets can offer. In particular, should investors opt for a passive or active approach?

Investment Insights
Aug 11

Active Ownership

Beware the voiceless shareholder

Few corporate governance watchers could have missed the crescendo building around multiple share class structures, carrying different or no voting rights. Such structures are akin to placing blind faith in company founders and managements to always act wisely and in the long-term interests of shareholders. We know history is littered with examples to the contrary.

Investment Insights
Aug 11

Emerging market equities - a reality check

Despite their more attractive growth and secular tailwinds, many investors have historically been hesitant to invest in emerging markets (EMs). The reasons for this include concerns around currency volatility, political instability and economic over-reliance on commodities and resources. This view is increasingly outdated, however.

Investment Insights
Aug 09

Around the Curve

Bridges Freeze Before Roads: Go Slow

In a way, the Fed was a key first responder to the global financial crisis (GFC). And now, it’s going to be the first major central bank to pursue quantitative tightening (QT), the more uncertain leg of its great “monetary policy experiment.”

Market Outlook
Aug 09

Mid-Week Bond Update

Fire and fury: a bond market response

Global government bonds rallied after US president Trump threatened North Korea - a market response that was as fiery and furious as the military action threatened to be. The US 10-year Treasury yield fell to 2.22%, after finishing July at 2.29%. The presidential comments reversed a...

Market Outlook
Aug 08

Policy Matters

Four Lessons from the Taper Tantrum

The lessons from the 2013 taper tantrum are relevant for bond investors today, but as circumstances are different we do not expect a similar outcome.

Market Snapshot
Aug 04

U.S. jobs: Closely watched gains

A solid jobs report for July, but what will the Fed do in September? US auto sales – victims of their own success; Germany’s infrastructure badly needs some TLC.

Investment Insights
Aug 04

Global Emerging Markets

China: Clearer Skies Ahead

Extreme pollution levels are probably why, unlike the US (which withdrew from the agreement), China remains committed to Paris and Xi Jinping is very unlikely to allow his country to weaken its resolve.

18/205
Top

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.