Is pent-up consumer demand the key to unlocking value in Europe? In this article, John Bennett, Director of European Equities, considers some of the meaningful trends he believes could drive positive momentum in the region.
ESG (Environmental, Social and Governance) investing has become a central theme across the investment community. Paul LaCoursiere, Head of ESG Investments, introduces the three main categories of ESG investment strategies and explores some of the considerations to be aware of.
As we head into the predictable spring/summer inflation surge and vaccine driven reopenings of 2021, Jenna Barnard and John Pattullo, co‑heads of Strategic Fixed Income, dissect the reflation narrative, sharing interesting views that go somewhat against consensus.
Hamish Chamberlayne and Ama Seery, members of the Global Sustainable Equity Team, discuss how Nintendo is putting its stamp on the video gaming industry.
Global six-month real narrow money growth is estimated to have fallen further in February, based on monetary data covering 70% of the G7 plus E7 aggregate calculated here. The decline from a July 2020 peak suggests a slowdown in industrial momentum extending through Q3 2021.
An article in November presented a “monetarist” forecast of a rise in UK annual CPI inflation to 3.2% in Q4 2021, far above the Bank of England’s central projection of 2.1% (reduced to 1.9% in February). News since then has been consistent with the assumptions underlying the forecast, which is maintained.
Changes in economic optimism drive market moves and current bullishness implies limited room for further upgrades, argues Simon Ward, Economic Adviser.
UK broad and narrow money measures continue to surge, with growth now significantly above that in the Eurozone – a reversal of the norm in recent years. This suggests strong near-term prospects for domestic demand and support for UK equity prices but at the likely cost of a sizeable deterioration in the balance of payments combined with much higher inflation.
Global industrial momentum appears to have peaked and is forecast to move lower into Q2. This poses a risk to reflation-positioned markets.
With Georgia’s Senate run-off vote offering a final, dramatic twist in the US election, what would it mean if Peach State voters hand power to the Democrats? Paul O’Connor, Head of the UK-based Multi Asset Team, considers the ramifications of a potentially seismic political result.
The stabilisation of US economic growth amid unprecedented fiscal and monetary stimulus has raised questions about the likelihood of inflation returning. Jim Cielinski, Global Head of Fixed Income, and Andrew Mulliner, Head of Global Aggregate Strategies, both members of the Fixed Income Investment Strategy Group (ISG), explain why they do not see significant risks of sustained higher inflation materialising in the next few years, though caution that short-term spikes are possible and investors should evaluate the diversity that their fixed income portfolios provide.
This year’s surge in global broad money is expected here to result in a significant inflation pick-up in 2021-22. The timing, magnitude and sustainability of this rise, however, are uncertain, the latter depending importantly on the extent to which broad money trends normalise over coming quarters.
In a tightly contested US election, where the issue of postal votes could decide the victor, what does this mean for financial markets? Paul O’Connor, Head of the UK-based Multi-Asset Team, looks ahead to prospective policy paths and the dwindling prospects of a Biden fiscal bonanza.
Director of Research Matt Peron says when it comes to the US election, the biggest risk for equity markets is not which party gets voted into office but whether the outcome is contested. So far, equities expect a clear winner on or near Election Day.
Hamish Chamberlayne, Portfolio Manager and Head of Global Sustainable Equities, highlights key sustainable news stories for the third quarter of 2020 and breaks down strategy performance.
What visibility is there for investors right now? Paul O’Connor, Head of the UK-based Multi-Asset Team, looks ahead to the fourth quarter of 2020 and beyond, summarising his latest thoughts on COVID-19, Brexit and the upcoming US election.
In this episode, Global Sustainable Equity portfolio managers Hamish Chamberlayne and Aaron Scully join Adam Hetts to decode sustainability and discuss their approach to sustainable investing.
The central view here remains that the global economy is staging a V-shaped recovery – or an italic V, at least – from the covid shock (not recession), with industrial output / GDP likely to regain pre-crisis levels in late 2020 / early 2021.
Nicholas Ware, Portfolio Manager in the Strategic Fixed Income Team, explains why he believes the second half of 2020 will see lower net issuance in corporate bond markets following the dizzying volume of new bond issues in the first half.