We recently surveyed our team of analysts across the globe to get the on-the-ground view of what they’re hearing from companies. This month’s findings reveal that activity in most sectors and regions is expected to return to a stable level in under a year - but which regions and sectors show the most promise?
The Federal Reserve announced no major policy changes at the June FOMC meeting, as expected. Anna Stupnytska, Head of Global Macro and Investment Strategy dissects the key messages from the statement; whilst there was an overtone of “considerable risks” to the outlook for the US it’s not all bad news and there are early signs of stabilisation.
As the UK starts to emerge from lockdown, Fidelity UK Select Fund portfolio manager Aruna Karunathilake discusses how investors should approach the gradual reopening of the domestic economy. He outlines how easing back into normality will affect different sectors, why he’s feeling more positive on oil and how he’s positioning for Brexit.
A critical look at the factors underpinning recent market moves suggests that the current disconnect between the positivity of Wall Street and the sobering economic reality of Main Street will converge. We outlines three things investors should consider when positioning for this phase and why this could be good news for active investors.
If the trend towards sustainability was already in motion, then the Covid-19 crisis has sped it up. Global CIO Andrew McCaffery and our Global Macro Team discuss this dynamic and why companies will increasingly place social purpose above short-term profits as a means of ensuring their long-term sustainability.
Economic data is finally reflecting the impact of economic lockdowns, and markets have seen a meaningful risk rally. Given the extent of the economic slowdown and the unknown duration of the crisis, Eugene Philalithis, portfolio manager of our Multi Asset Income range explains why he still thinks it's too early to move to a risk-on posture. But it's not all negative news, he also dissects the far-reaching policy responses from governments and central banks and explains why dividend investors shouldn't lose hope.
As we move through the different phases of Covid-19, continuously evolving market dislocations will present challenges and opportunities. We discuss why investors should allocate capital in a way that is sensitive to recovery rates.
We recently surveyed our team of analysts across the globe to get the on-the-ground view of what they’re hearing from companies. This month’s findings reveal the rising dispersion across and within sectors, as well as the profound impact the Covid-19 crisis will have on how companies approach social issues. What would a move to stakeholder capitalism mean for company margins?
As the economic and social impact of Covid-19 plays out, new long-term trends will set the world on a unique course. Global CIO Andrew McCaffery and our Global Macro Team discuss what this new economic order could look like in terms of state intervention, fiscal activism and Asian leadership.
China’s five-day May Day holiday was the first big test of domestic demand - and particularly tourism - since Covid-19 lockdowns started being lifted. We take a close look at China’s journey back towards normality and highlight some of the bright spots that we are seeing on-the-ground.
The need for income among global investors is not going away, but it is becoming harder to find stable and predictable sources in the current environment. Andrew McCaffery, Global CIO Asset Management, and Henk-Jan Rikkerink, Global Head of Solutions and Multi Asset, discuss the risks and trade-offs that investors need to consider moving forward.
How the Covid-19 crisis unfolds over the coming weeks and months depends on a number of variables. Faced with this uncertainty, Global CIO Andrew McCaffery and our Global Macro Team give our base, bull and bear cases and the associated implications for the global economy.
While the global market sell-off in March appeared indiscriminate, our proprietary ESG ratings highlighted that higher-rated companies outperformed their lower-rated peers. Andrew McCaffery, Global CIO, Asset Management, and Ned Salter, Head of Equities, assess recent market movement and outline why the focus on sustainability issues will continue to grow as we emerge from this crisis.
Are central banks doing enough to bolster their economies to ensure recovery once we know a path out of the pandemic? With news that both the European Central Bank (ECB) and the Fed hold steady for now on their policy movements, Fidelity’s Head of Global Macro and Investment Strategy, Anna Stupnytska outlines what that means for global economics.
Even by the oil market’s standards 2020 has been exceptionally volatile. The market has faced unanticipated supply and demand shocks, leading to the commodity’s worst quarter in history. Louise Fribourg, Markets Analyst within our Multi Asset team explores what the oil crisis means in the context of global markets: does this cheap price offer investors value, or is caution warranted?
Global health, monetary and fiscal policy has been rightly focusing on limiting the worst impacts of the coronavirus outbreak over recent weeks. Paras Anand, CIO Asset Management Asia Pacific, takes a step back and assesses the longer-term ramifications for businesses in terms of taxation, regulation and unexpected shifts in the jobs market.
Recent market volatility has opened up a number of new opportunities, but methods of assessing these must adapt to avoid value traps. Fidelity American Special Situations Fund Manager Angel Agudo discusses the complexities of determining the price to pay for US companies in a post-pandemic world.
The plunge into negative prices for US WTI oil produced some shocking headlines, but it is due to a technical effect of the futures market. James Trafford, Analyst & Portfolio Manager explains what the technical drivers are behind the oil price.
During times of intense volatility and uncertainty, it is normal for investors to shorten their investment timelines. Fidelity’s Paras Anand, Head of Asset Management, Asia Pacific, takes a step back from the current noise and outlines three key themes that are set to endure and reward investors with a longer-term view.
With over 20 years of experience investing in Asia, I have invested through both the Asian Financial Crisis in 1997-98 and the global financial crisis (GFC) in 2008. When it comes to periods of market downturn, and financial crises, each one is different and nuanced with differing causal effects. This time is different again. It is not about over-leveraging, but it is a global pandemic that we are facing. What began as an outbreak in China has now assumed a global scale. It is not financial distress, rather it is uncertainty about individual health and fear about personal wellbeing everywhere.