Research
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Risks have loomed larger and recent economic data have been less than inspiring. Markets have stumbled, but underlying conditions still support expansion and the global economic recovery continues. 7/20/2010
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White Papers
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Booming exports to emerging markets have made an unprecedented contribution to reviving US economic growth since mid-2009, fueling a rebound in manufacturing production and investment. We believe these trends represent a durable shift away from the US economy’s traditional engines, consumption and housing, that will lead to a healthier balance of real GDP growth in the decade ahead. 6/23/2010
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United States
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Joseph G. Carson
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Senior Vice President and Director—Global Economic Research
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Moderate GDP growth amid uncertainty over policy changes complicates the economic outlook for the remainder of 2010. But we think strong gains in corporate operating profits offer the best guide for the economy’s basic trend, as long as regulatory and policy issues are cleared up as soon as possible. 7/23/2010
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Research
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Most investment portfolios are not designed with inflation risk explicitly in mind. As a result, many investors are often dangerously susceptible to an unexpected rise in inflation, which can present one of the most pernicious environments for traditional portfolios. What’s worse, at the same time that many investors’ assets are hit by an inflationary spike, their liabilities or living costs tend to rise. Such a double whammy can leave investors in a deep hole. 6/4/2010
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Comprehensive healthcare reform legislation was signed into law last week by President Obama. The legislation is being enacted in two phases. President Obama signed the Patient Protection and Affordable Care Act (known as “the Senate bill”) on Tuesday, March 23, 2010. The Health Care & Education Affordability Reconciliation Act of 2010 (known as “the reconciliation bill”) resolves differences between the Senate bill and a prior bill passed by the House of Representatives, and has been approved by both chambers and has
been signed into law. 3/30/2010
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White Papers
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With some stability returning to the US housing market, we think this is the time to focus on the longer-term value opportunities the crisis has created. 12/21/2009
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The US Department of the Treasury has selected AllianceBernstein as one of nine pre-qualified fund managers in its Public-Private Investment Program (PPIP). Under the program, AllianceBernstein will partner with the Treasury—which will be a co-investor and will provide various leverage options for PPIP funds—to create a Public-Private Investment Fund (PPIF) which will invest in distressed “legacy securities” that are clogging the balance sheets of many financial institutions. 7/8/2009
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The US Treasury Department has chosen AllianceBernstein to help manage its portfolio of assets issued by banks and other institutions taking part in the Capital Purchase Program (CPP) and other programs of the Troubled Assets Relief Program (TARP). These programs are part of the Emergency Economic Stabilization Act of 2008, which seeks to restore financial stability and ensure the flow of capital to consumers and businesses so that these institutions can ultimately attract both private and public capital. 4/22/2009
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