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.
ESG (Environmental, Social and Governance) investing is, first and foremost, investing. While a common misconception is that investing with ESG principles comes at the expense of investment returns, we disagree with this view and believe the integration of ESG considerations instead makes us smarter investors.
A combination of cyclical, secular and political factors informs our underweight position in investment grade rated US Autos, which have recently underperformed the broader market (Exhibit 1).
The lowest quality segment of the US investment grade market – BBB-rated bonds – grew 62% between 2014 and 2018 and now represents 51.7% of the index.
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As the Federal Reserve continues to raise interest rates, will this bring volatility to the markets in 2018? And how will US tax reform, something we haven’t seen since 1986, impact investors?
View GSAM's thought leaders and portfolio managers as they discuss the impact across all asset classes.
Each year, we perform a comprehensive review of defined benefit (DB) pension plans of every company in the S&P 500 and provide initial impressions on the issues and factors impacting corporate DB plan sponsors. In this year’s Pension Review “First Take:” Groundhog Day, we outline key findings from our analysis and several transitions that are impacting the pension landscape.
Each week the Fixed Income team releases its views on macro strategies including duration, country, cross macro and currency, and sector strategies such as securitized debt, corporate credit and emerging markets debt.
Each month the Fixed Income team releases an overview of recent developments in credit markets and key views within investment grade, high yield and leveraged loans.
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