Chief Investment Officer Sean Taylor considers the implications of a second Trump administration for emerging markets.

In sport, play is limited by time or innings. Lineups are set, rules are fixed and boundaries are defined. Winners are determined objectively.

Germany’s Carl Benz might have invented the automobile, but it’s the United States that got us to drive them.

With President-elect Donald Trump set to assume office in January, the U.S. military and cybersecurity sectors could experience sweeping changes, creating opportunities for investors who recognize the long-term growth potential in defense and technology.

U.S. rate cuts of up to 200bps are anticipated by the end of 2025 but with significant further downside if recession risks materialize.

Maslow’s hierarchy of needs was a groundbreaking concept when it appeared in 1943. American psychologist Abraham Maslow argued that certain basic needs—food, water, shelter, etc.—must be met before a person can move on to higher levels of self-worth and fulfillment.

A few months ago, travel companies were warning that the great post-pandemic boom in consumer travel was losing steam.

Western economies are inching towards soft landings, and their central banks are reducing interest rates. These developments will be helpful to economies in the Asia-Pacific region as they conclude 2024 and look forward to next year. However, the outlook for China remains a central concern.

Marc Pinto, Head of Americas Equities, and Lucas Klein, Head of EMEA and Asia Pacific Equities, say a surprisingly straightforward U.S. election could provide additional momentum to U.S. stocks through the end of 2024. But it remains to be seen how policy will impact future earnings—the real driver of long-term returns.

This is not a typical business cycle. We see structural forces holding inflation higher long term, keeping the Fed from cutting as much as markets expect.

At the height of summer, Europe had hoped that the coming winter would be its last difficult one to secure enough natural gas. By the middle of next year, liquefied natural gas was expected to turn into a buyer’s market, easing the squeeze the region has suffered since Russia invaded Ukraine. No longer.

Credit risk fell in reaction to Donald Trump’s US presidential win, even though his presidency may be marred by tariffs and possible trade wars.

As we think about investing around a historic election, establishing what we know, what we need to know, and what we can count on is a useful foundation for navigating the uncertainty.

In his 2022 Berkshire Hathaway shareholder letter, Warren Buffett wrote that in his 80 years of investing, he had “yet to see a time when it made sense to make a long-term bet against America.”

Intel Corp. and Samsung Electronics Co. have shed a total of $227 billion in market value this year on their lack of leadership in artificial intelligence.

Our analysis explores how potential post-election tax policy changes might impact dividends, capital gains, and municipal bonds and how investors might prepare for different election outcomes.

Equities continued to climb in Q3, with fixed income remaining steady despite international conflicts, inflationary pressure, and election-related uncertainty in the United States.

With the election looming, investors should prepare for potential changes in tax policies, particularly given the impending sunset of the 2017 Tax Cuts and Jobs Act.

With less than two weeks remaining before the U.S. presidential election, there’s a growing sense of uncertainty in the air. Investors are wondering how to position their money, bracing for the possibility of significant volatility and market shifts.

Many investors today use EM debt for the wrong reasons, manage it imprudently, or overlook the best parts.

Asset managers in Europe and the US have spent 2024 winding down hundreds of ESG funds, as the investment strategy continues to bump up against regulatory headwinds.

Thanks to a variety of structural advantages, including favorable demographic trends, we believe the U.S. remains the most attractive investment environment in the world.

Bonds extended losses as investors mulled the prospect of slower US interest-rate cuts, a trend that risks upending debt positions everywhere.

In what should be one of the least surprising developments, global electricity demand is soaring everywhere as the world moves to electrify everything. Out go gasoline cars, in come electric vehicles; out go gas boilers, in come heat pumps; and so on and so forth. That’s the energy transition.

If you’ve been paying attention to the markets, especially in recent months, you’ve likely noticed something interesting happening with nuclear energy stocks.

Markets changed character to broad-based optimism relating to the economy. The economic picture began to come into focus with inflation continuing to moderate as the economy maintains steady growth and employment. The result was a stark turnaround for economically integrated or interest rate sensitive assets, which resulted in a great quarter for diversified multi-asset portfolios. New Frontier sets a major milestone in Q4, marking 20 years of investing at the end of October.

Asia-Pacific economies will benefit from soft landings and easier monetary conditions.

Netflix Inc. added more than 5 million customers in the third quarter and eclipsed Wall Street’s expectations on every major financial metric despite a new programming slate constrained by last year’s strikes in Hollywood.

Taiwan Semiconductor Manufacturing Co. raised its target for 2024 revenue growth after quarterly results beat estimates, allaying concerns about global chip demand and the sustainability of an AI hardware boom.

Biden administration officials have discussed capping sales of advanced AI chips from Nvidia Corp. and other American companies on a country-specific basis, people familiar with the matter said.

Global equity markets continued to rally throughout the third quarter, with strong positive stock performance from the U.S., international developed, and emerging markets. The two biggest narratives that have unfolded recently center on the U.S. and China.

U.S. stocks have handily outperformed their global peers over the past few decades, as well as in the post-World War II period. We document the scale of the outperformance and ask whether it can continue.

Chinese stocks overcame a bout of early volatility to post their biggest gain in a week on Monday, suggesting that investors are hopeful the government will deliver on its promise of more fiscal support.

With over 36,000 metric tons in reserves—about one-fifth of all the gold ever mined—central banks know something we should too: Gold is the ultimate safety net.

China’s leaders appear to be back on a pragmatic macro policy path, but more course corrections will be required to change the direction of the world’s second-largest economy. Beijing must continue to be less stubborn, and we will need to be patient.

The latest S&P 500 rebalance introduced Dell and Palantir to the index, and Apple’s weight grew with annual float changes, signaling technology’s ongoing influence.

Foreign investors have been buying more US corporate bonds, a trend that will likely continue as Federal Reserve monetary easing lowers the cost of hedging and investors hunt for yield.

Many emerging markets have delivered a robust performance this quarter amid a number of headwinds and we expect key geographies to build on that in the coming months.

Policymakers have recognized China's slower economy.

The outlook for corporate debt is improving now that the Federal Reserve has begun cutting interest rates, according to the latest Bloomberg Markets Live Pulse survey.

Market conditions are shifting fast. But making impulsive changes to equity portfolios and allocations can be counterproductive.

Emerging-market stocks are showing signs of life amid hints of earnings improvements. Where should investors look?

Our experts explore the implications of wider S&P 500 earnings growth, potential Fed rate cuts, and the outlook for global equities and bonds amidst ongoing economic shifts.

Companies and governments around the globe spent the past month streaming into debt markets, seizing on declining interest rates ahead of an uncertain US presidential election that many fear will spur volatility in markets.

Asian assets swung violently over the past three months, rocked by a succession of epochal events that culminated in a giant stimulus boost for China and propelled the region’s equities to world beaters.

Sand. Salt. Iron. Copper. Oil. Lithium. These, not petabytes or algorithms or innovative ideas, are the building blocks of human life as we know it. At least that’s what Ed Conway, author of Material World, tells us.

I attended and spoke at the European Blockchain Convention this week in Barcelona, where the energy around digital assets, Bitcoin and Web3 was palpable. Among the 6,000 attendees, there was a sense that we’re on the brink of a new era in finance and digital infrastructure.

Portfolio Manager Andrew Mattock, CFA, assesses the key components of the growth measures announced by the central bank and financial regulators in terms of their potential impact on the economy and the Chinese equity market.

Regardless of whether Donald Trump or Kamala Harris wins the US presidential election in November, Chinese decision-makers expect bitter disputes over trade, technology, and Taiwan. Feeling under siege, China is girding itself for long-term enmity with the world’s largest economy.

Chief Investment Officer Sean Taylor provides his insights on how the Fed’s 50 basis point-rate cut may affect emerging economies, particularly in Asia and Latin America, how it impacts portfolio allocations and the sectors he believes are poised for growth amid this shift.