In-depth write up of Moody's (MCO) highlighting how it fits into YCG's investment framework which focuses on identifying "great business" and "market-timing" mispricings.
The Fed chairman makes clear the bar for slowing monetary tightening is higher nowadays, and argues emerging markets are much better positioned to handle higher U.S. yields than they were before.
Emerging market stocks and bonds are having a rough year, but Russ argues against abandoning the asset class.
A review of last month’s market-moving events across countries and asset classes.
The first quarter of 2018 was plagued by volatility in equity markets. How did active managers fare in light of this?
Global central bankers, finance ministers and representatives from the private sector and civic groups gathered in Washington recently for the spring meetings of the IMF (International Monetary Fund)/World Bank Group. With trade policy, geopolitics and emerging markets currently top-of-mind for many investors, the meetings were especially relevant this year.
The rise of populism has been fueled by rhetoric bemoaning the downward plight of the middle class, and that chorus has been joined by many from the left. But are we really worse off than we were a generation or a century ago? Not according to Steven Pinker, whose new book documents the dramatic improvement in lives across the globe.
Conditions we are seeing today are more normal than recent years, when investors grew accustomed to record low interest rates, a near-absence of inflation and the subdued volatility. We expect coordinated global economic expansion will continue through 2018, although improvements in some economic fundamentals may have peaked.
Last night the China Shanghai CSI 300 index fell a bit more than 1.6%, taking out February lows and setting a new YTD low for the index. This is important since the global equity markets have a very high correlation to Chinese stocks.
2018 began much as 2017 ended, with steadily rising equity markets, low interest rates and burgeoning market optimism. Indeed, investors were increasingly convinced that the lowest stock and bond market volatility since 1965 was set to continue in 2018. Who could blame them?