There’s enormous scope for India and Greater China to increase GDP per capita relative to the U.S. and other developed nations
As global warming worries approach critical mass, corporate bond investors expect issuers to be part of the solution.
We believe microcap stocks are an attractive asset class offering the opportunity to deliver outsized returns to investors and that they should be an important part of a diversified investment portfolio.
Our position on the economy has been that the US is headed for a recession, but we’re not quite there yet.
Markets may continue to see volatility in 2023 as they navigate between global economic growth and inflation fears, with central banks' decreasing rate hikes and China's reopening.
Drew O’Neil discusses fixed income market conditions and offers insight for bond investors.
U.S. stocks are lower as the new week kicks off, even as China took further measures to ease COVID restrictions.
After 12 years of a liquidity-fueled, Fed-induced bull market, are the markets set to start another “secular” bear market?
Europe needs higher investments, which will only be possible with an overhaul of its fiscal rules.
Earlier this year, we added “Globalisation 2.0” to our list of megatrends – trends that are virtually set in stone and so all-encompassing that they will have a profound effect on financial markets in the years to come.
We continue to believe that a value-conscious, risk-managed, full-cycle discipline, focused on the combination of valuations and market internals, will be essential in navigating market volatility in the years ahead.
Weaker economic trends will likely form heading into 2023 as the Fed battles inflation, but a (hopefully) mild recession may help set stocks up for a better second half of the year.
While economists have been lowering their employment forecast month over month over month, the U.S. labor market has continued to disappoint those forecasts and has remained relatively strong as well as relatively stable, with jobs growing at an average of 392,000 per month during 2022.
Key Takeaways
After years of uncertainty around how U.S. retirement plans could consider ESG factors, the dust is finally settling. It’s official: A Nov. 22 rule issued by the Department of Labor (DOL) allows retirement plans to consider financially material ESG factors when selecting investments and exercising shareholder rights.
Over the past 12 months, global container shipping rates have steadily declined to their long-term averages as supply chain snarls have receded and backups at ports have disappeared. Now, another segment of the cargo shipping industry is seeing day rates explode to record highs.
Change is constant, in the economy and everything else. We talk about it often. Yet when we talk about the economy changing, we usually mean the economy’s condition is changing—from expansion to recession, deflationary to inflationary, emerging to developing, etc. That’s different from changes in the economy’s actual structure.
After years of ultra-loose fiscal, monetary, and credit policies and the onset of major negative supply shocks, stagflationary pressures are now putting the squeeze on a massive mountain of public- and private-sector debt.
Three reasons why investors should consider adding intermediate-duration bonds back to their fixed income portfolios.
U.S. equities are sliding as investors sift through the November labor report that showed stronger-than-expected job growth.
Review the latest portfolio strategy commentary from Mike Gibbs, managing director of Equity Portfolio and Technical Strategy.
To properly guide their clients, financial advisors must have a good understanding of the long-run behavior of stock and bonds returns.
Remember, the Fed hikes short-term interest rates to slow long-term growth and inflation.
Better than expected inflationary data and corporate earnings reports helped boost S&P 500 to back-to-back rallies for first time since mid-2021.
How we’re thinking about investing against a backdrop of inflation uncertainty, geopolitical tension, and likely recession.
In August 1979, President Carter appointed Paul Volcker as Chaiman of the Federal Reserve.
Value equities are still priced for significant outperformance, globally.
Regardless of your long-term view on bonds, Treasuries are beginning to look undervalued from a cyclical perspective.
One of the biggest trades this year has lost steam and its outlook for the next year has become much more mixed.
Global Payments Inc. (GPN) has produced incredibly consistent growth since it was spun off in 2001.
Baillie Gifford Partner Dave Bujnowski explains how he’s thinking about the drivers of growth investment opportunities amid growth stock underperformance.
David Dali, head of portfolio strategy, explains how emerging markets can give investors ballast to navigate macro headwinds and position portfolios for growth.
U.S. stocks are choppy in pre-market trading on the heels of yesterday's drop ahead of tomorrow's comments from Fed Chairman Jerome Powell.
Doug Drabik discusses fixed income market conditions and offers insight for bond investors.
As Europe struggles with war, costly energy, record inflation and slowing growth, it’s no surprise that European corporate credit is out of favor.
There are many ways to decompose the bond market to identify the component pieces to infer what the market is pricing in.
We believe private credit is an attractive investment with greater market coverage and a timely opportunity to benefit from the scarcity of fresh capital.
Doll’s Deliberations this week summarizes some short-term expectations and some longer-term issues.
In this year’s global economic crisis, no two regions are having identical experiences. While inflation rages across much of the world, price rises have been more moderate in some countries than others. Similarly, the scale of rate hikes and the degree of recession fears aren’t uniform.
It’s that special time of the year, and we will all hear and read a great deal about Black Friday, Thanksgiving Weekend, and Cyber Monday during the next few days. Many pundits are going to make sweeping conclusions about the economy based on these very limited reports.
There’s a big “open secret” in Silicon Valley that’s spreading, one that has already reached three-fourths of FANG. But the market has yet to recognize its impact on one remaining company.
Following the weaker-than-expected October inflation report, stocks surged on hopes the Fed will “pivot” sooner than later. As we discussed recently, a “policy pivot” is not necessarily bullish but instead suggests more bearish market action will come first.
Technology megatrends transform society, and there is a hugely significant fourth wave on the horizon.
The global economy’s dire and deteriorating prospects, together with the scale of the climate challenge, have apparently opened world leaders’ eyes to the risks that deglobalization poses. But it remains to be seen whether this realization will be followed by the action needed to reverse course.
Everyone seems to be paying more attention to the cost of goods and services these days. But there is one cost that many investors pay without realizing it – the cost of taxes on their portfolios. Here's why this cost matters and what you can do to help your clients avoid it.
With the year winding down, investors might think they’ve seen it all. But one element of market dysfunction that’s largely flown under the radar is increased friction within the US Treasury market. Treasuries are experiencing a liquidity decline on the back of economic uncertainty and higher volatility, with large blocks of government debt increasingly hard to trade.
This week, around my trip to a far-too-cold Denver, then to Dallas, and ultimately Tulsa to spend the Thanksgiving holiday with family, Keith and I did a 45-minute "interview" via Zoom. Less an interview, perhaps, than the two old friends catching up. I was surprised how many topics Keith and I aligned on perfectly, though our few disagreements about what comes next made for a great debate.
Americans who work remotely, either full-time or part-time, can save between $2,000 and $7,000 in transportation and work-related costs. They can also gain back the equivalent of two to three weeks per year in commuting time.
With a storyline full of celebrities, politicians, sex, and drugs, the future looks bright for producers of feature films and documentaries about the astonishing collapse of FTX.
U.S. equities are mixed in pre-market trading, but the markets are on track to post weekly gains for the holiday-shortened week.
