Tax reform has incentivized companies to return their offshore cash to the US. This could create opportunities for US investment grade bonds.
In the latest GMO Emerging Equity Insights, titled “Contemplating Value in Emerging Markets Intelligently, with a Little Help from Ben Graham” Amit Bhartia and Matt Seto revisit Ben Graham’s principles of value investing and extrapolate them to investing in emerging markets.
After helping more than 150 financial advisors write their marketing materials, I keep seeing a common mistake. They write in “financialese.”
This time last year, the Invesco International and Global Growth team was optimistic about the better relative earnings potential that we saw building in Europe. Indeed, the trends played out to our benefit over the course of 2017. In dollar terms, European equities outperformed US equities by 3% in 2017, the first time since 2012.
As we enter 2018, the macro environment remains supportive for fixed income markets. However, with full valuations and diminished monetary policy support, the margin for error is razor thin as fixed income investors identify potential risks.Voya Investment Management's CIO of Fixed Income, Matt Toms, CFA breaks down the major themes of 2018 and discusses the key market trends that are likely to lead to a return of volatility.
Since the dawn of time music has played a pivotal role in the defining of the times and the progression made. We would like to utilize the artistic genius of these maestros to bring some context to the current pivotal point in the economy and capital markets.
Despite the near non-stop drama of the legislative process, we ended December with the Tax Cut and Jobs Act of 2017 being signed into law. What does this mean for fixed income investors? In my opinion, the news is overwhelmingly positive for the US investment grade market; here are four reasons why.
The business cycle is one of the most important drivers of investment performance. As the nearby chart shows, recessions lead to outsized moves across asset markets. It is therefore critical for investors to have a well-informed view on the business cycle so portfolio allocations can be adjusted accordingly.
Nearly 10 years after its unprecedented response to the 2008 crisis, the Fed is finally making plans to unwind $4 trillion of fixed income investments. Other global central banks are not far behind. From interest rates to credit spreads and defaults, the impact of these actions will reach all corners of the fixed income market. Matt Toms Fixed Income CIO for Voya Investment Management will discuss: • Pitfalls and risks in the current fixed income market; • Overlooked opportunities; and • What investors should consider when building fixed income portfolios to navigate this uncharted environment.
Matt will answer attendees’ questions during the session and will be available to continue the discussion on APViewpoint.
James Montier and Matt Kadnar, members of GMO’s Asset Allocation team, have just published a new white paper -- “The S&P 500: Just Say No” -- warning of the risks to investors throwing in the towel on valuation, diversification and active management in favor of a passive allocation to large-cap U.S. equities.