Is it time to add convertible bonds?
We met with Geopolitical Strategist Peter Zeihan for a quarterly update right before the French presidential elections. In addition to calling Macron’s win, Peter outlined the three most important geopolitical shifts for US financial advisors to watch in the coming months.
South Korea’s young democracy has successfully withstood months of political turmoil, which concluded recently with the election of President Moon Jae-in as its new leader. What can investors expect next?
A review of last month’s market-moving events across countries and asset classes.
With his victory as France's new president-elect, Emmanuel Macron can celebrate – for now. Much depends on whether he can secure a parliamentary majority in June. Nevertheless, Macron’s win helps investors see the more positive side to the European story.
With markets seeking to avoid similar toe-stubbing in the policy arena, we examine the drivers of the fixed income markets for the near term. In doing so, we consider President Trump’s fiscal policy influence, Janet Yellen’s monetary policy impacts and evolving exogenous geopolitical dynamics. So, who or what will determine the market’s course moving forward?
During the first four months of 2017, we were relatively active on the buying and selling front. With a reasonable amount of information to report on individual positions, we will dispense with any broad economic and asset class commentary and dig right into each of the transactions that occurred between January and April.
We wrap-up our three-part series on Behavioral Finance in this issue of the Outlook with a discussion of Emotional Biases, which often adversely affect investors’ outcomes. This discussion and the tie-in with Sir Isaac Newton is found in the second half of this quarter’s Outlook.
During the first quarter, global issuance was a very healthy $24.3 billion, the strongest quarter in nearly two years. U.S. issuers led, bringing $13.0 billion to market, followed by Europe at $7.6 billion. Encouragingly, nearly all U.S. issuance was in the form of convertible bonds.