Four charts outline key observations and things investors should watch out for in the US, Europe, Japan and China.
The saying ‘sell in May and go away’ refuses itself to go away.
The US is shedding excess capacity at a faster rate than most of its developed world peers, which supports our outlook for inflation to strengthen and sharpens our focus on the risk of rates volatility.
Time-series and cross-sectional analysis support our expectation for US wage growth to pick up in the near future.
We believe the balance of secular drivers over the next several years is inflationary, as a range of factors that have suppressed prices over the past decade are reaching inflection points.
The weak transmission of growth to inflation in the developed world creates challenges for policymakers, raising the risks of a policy misstep.
China’s health care industry has begun maturing to a more developed state on the back of a number of key structural drivers. First, as we discussed in the last edition of Viewpoints, China’s highly educated workforce with record number of STEM graduates has been essential to enhancing research capabilities and strengthening the competitiveness of healthcare companies.
The political situation in Italy is fluid and Italian assets remain highly sensitive to political developments. That said, we are surprised that financial markets are not reassured by the failure to form a coalition government by parties that have called into question Italy’s membership of the European Union (EU) and the Euro area.
In this Q&A with Ben Barber, Head of Municipal Bond Portfolio Management, we discuss structural changes in the muni market and our views on how to potentially take advantage of these changes.
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Investors are increasingly attracted to portfolios that can generate positive impact alongside market rates of return, but the range of eligible investments can frequently look too narrow, or confined to less-liquid areas of the market. What if so-called impact investment opportunities were hiding in plain sight, among more ‘vanilla’ parts of a traditional investment portfolio? Enter: municipal bonds. We discuss this opportunity with the GSAM Municipal team’s senior portfolio manager Ben Barber and Michael Kashani, global head of ESG portfolio management within fixed income.
Our portfolio managers discuss factors driving growth in small cap investments
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