July 06, 2020 The Credit Barbell Isn’t Broken. Here’s Why. by Matthew Sheridan, Monika Carlson Even with today’s low yields, credit barbell strategies can still meet their objectives of downside protection, upside participation and efficient income. Fixed Income, Low-Yield Environment, Volatility Likes 0 SHARE Bookmarks
July 01, 2020 Unlocking REIT Potential Amid COVID-19 by Ajit Ketkar, Eric Franco Economic fallout from the coronavirus crisis was especially hard on real estate, mostly from misperceptions that the asset class is dominated by hotels, malls and office parks. But a look inside shows a diverse group of sectors that are more pandemic resilient than investors may think. Coronavirus, Equities, Low-Yield Environment, Volatility Likes 0 SHARE Bookmarks
June 15, 2020 How Will European Government Bond Markets Navigate the New Era? by John Taylor COVID-19 is triggering a new era of central banking. We believe this will play out just as powerfully in the euro area as elsewhere. Coronavirus, Economics, Fixed Income, Low-Yield Environment, Volatility Likes 0 SHARE Bookmarks
June 11, 2020 The Fed Didn’t Ease More...Is That a Missed Opportunity? by Eric Winograd The Fed gave its updated economic outlook this week, but not the additional policy support markets were looking for. We think this was a misstep...but one we hope will be corrected if the outlook doesn’t improve. Coronavirus, Economics, Fixed Income, Low-Yield Environment Likes 0 SHARE Bookmarks
May 29, 2020 Don’t Fear Government Bonds in Multi-Asset Portfolios by Sharat Kotikalpudi Today’s bond yields are extremely low, and some multi-asset investors may be struggling to rationalize exposure to interest-rate driven assets such as government bonds. But past experience suggests that they can still be effective diversifiers over the near term, even at low yield levels. Low-Yield Environment, Multi-Asset Likes 0 SHARE Bookmarks
May 21, 2020 How Will the Coronavirus Change the Role of Central Banks? COVID-19 has supplied the catalyst for a secular change in the role of central banks. Providing governments with ammunition to fight the virus is now the overriding goal, and this means keeping bond yields pinned close to zero for the foreseeable future. Coronavirus, Economics, Fixed Income, Low-Yield Environment Likes 0 SHARE Bookmarks
May 18, 2020 The Market and Negative US Rates: Right Idea, Wrong Tool by Eric Winograd The Fed continues to dismiss the idea of negative US rates but the market keeps pricing them in. We don’t expect negative rates: in our view, the market is using them as a proxy for Fed measures that may be needed but aren’t yet identified. Coronavirus, Economics, Fixed Income, Low-Yield Environment, Volatility Likes 0 SHARE Bookmarks
April 06, 2020 Coronavirus Shock Reshapes Global Equity Landscape by Christopher Hogbin While the pandemic has destabilized markets, by asking the right questions now and drawing on lessons from past systemic crashes investors can prepare for the challenges ahead. Coronavirus, Equities, Low-Yield Environment, Volatility Likes 0 SHARE Bookmarks
March 04, 2020 Fed May Cut Rates Further to Counter Coronavirus Headwinds by Eric Winograd This week’s Fed rate cut helped steady financial markets reeling from the expected impact of the coronavirus on the US economy, and we think more cuts are coming—in March and beyond. The economy should rebound in the second half of the year, though at a lower full-year pace. Coronavirus, Economics, Fixed Income, Low-Yield Environment, Volatility Likes 0 SHARE Bookmarks
March 04, 2020 US Equity Valuations Rebooted by Coronavirus by Kurt Feuerman Although the outlook for growth and earnings is uncertain amid the coronavirus crisis, attractive stock valuations could create opportunities for high-conviction investors. Coronavirus, Equities, Low-Yield Environment, Volatility Likes 0 SHARE Bookmarks
February 03, 2020 Can US Stock Investors Rely on Earnings Growth? by James T. Tierney, Jr. With US equities trading at relatively high valuations, earnings growth will be essential for investors to generate returns in 2020. That’s a tall order in today’s environment. Finding standout companies with sustainable growth potential will be especially important. Equities, Low-Yield Environment Likes 0 SHARE Bookmarks
January 31, 2020 High-Income Outlook: Setting a Course for 2020 by Gershon Distenfeld Late-cycle markets can unnerve high-income investors. But we see ways to generate a healthy level of income while potentially decreasing overall portfolio volatility. Fixed Income, Low-Yield Environment, Volatility Likes 0 SHARE Bookmarks
January 30, 2020 Valuing Equities in a Low-Growth World by Mark Phelps As we enter a period of lower growth globally, investors have given higher valuations to companies that can achieve consistent growth. This seems logical, but are we in danger of overpaying? Equities, Low-Yield Environment Likes 0 SHARE Bookmarks