Our experts discuss the key challenges facing central banks in today’s environment.
Our “Un-Making the Rules” roundtable participants chose these charts to illustrate the potential market implications of an easier regulatory environment in the US.
For months we have favored equities over credit and credit over rates. This is predicated on an expectation of a broadening global growth, aided by expansionary policies and potential deregulation in the US, and undemanding valuations in equities relative to bonds.
Beyond the US we see a more nuanced regulatory landscape, shaped by the divergent domestic priorities of the largest developed- and developing markets. We compare the investment takeaways in Europe, where cross-border standards are being reset, and in China as the focus returns to reform.
In the short term, the expectation of less regulation is helping to build confidence in corporate America. But over a one- to three-year horizon the boost to growth could be meaningful, in combination with tax reform and infrastructure spending.
EM is no longer the commodity proxy it once was—with the increasing dominance of consumer and technology companies in EM, the rising EM consumer’s income growth and spending are becoming the long-term drivers.
Key takeaways and investment implications from the MSCI announcement.
Valuations are high by conventional metrics, but defensible in context – as long as investors lower their return expectations.
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Finding value in fixed income can be a challenge in the current market environment. Read why we think relative value strategies offer compelling opportunities to find value in fixed income.
Hear our senior thought leaders discuss how inflation, reduced political uncertainty and the role of central banks will impact the remainder of 2017, and what this may mean for investors.
China is on the move. What are the key implications of the upcoming Party Congress Conference? Our fundamental equity team discusses why it’s important for investors to look into China for attractive opportunities.
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