Concerns around high equity valuations and rising asset prices are finally manifesting. In this webinar, Richard Bernstein will examine the critical shift in the markets - focusing on the anti-tech trade, cyclicals, consumer staples and other areas where RBA is finding opportunities and isolating risks.
At Richard Bernstein Advisors (RBA) we employ a disciplined, top-down approach – we generate alpha by uncovering global investment styles and themes where we believe there are disparities between fundamentals and sentiment. And in current markets, disparities are large.
We seek to beat the market through individual stock selection. We are focused on fundamentals – with particular emphasis on corporate profit cycles rather than economic cycles.
Mr. Bernstein, CEO/CIO of RBA will be addressing key areas that will be important for you and your clients:
The latest index came in at 24, up from 22 last month, indicating steady continued expansion in January. The future outlook rose to 37. All figures are seasonally adjusted. Here is a snapshot of the complete Kansas City Fed Manufacturing Survey.
The National Association of Realtors released the December data for their Pending Home Sales Index. According to the National Association of Realtors®, "Pending home sales fell in December, denoting two straight months of declines."
The Northern Trust Economics team shares its outlook for key markets in the month ahead.
Crypto prices are tumbling. By one account, crypto assets have lost about $1.35 trillion globally since November, with some falling in price by 80% or more. Many investors feel a real pinch.
Energy transition investment follows familiar patterns in global capital markets. Large, established financial institutions supply hundreds of billions of dollars a year to finance construction of long-lived assets using familiar zero-carbon technologies — i.e., deployment.
Bonds tumbled across the world on Thursday after Federal Reserve Chairman Jerome Powell’s latest hawkish pivot, with yields from Wellington to London breaching multi-year highs.
Strategists are mapping out their best trade ideas after Federal Reserve Chair Jerome Powell set the stage for raising interest rates to combat the highest inflation since 1982.
The Fed stayed the course today, with no change in the Fed Funds rate, no adjustment to the pace of tapering, no shift in the timeline for raising rates, and no indication that they intend to lift rates in larger steps.
This is the 7th in a series of 11 videos where I will cover each of the 11 sectors looking for value.
The yearly paying out of lump sums to reward top talent is such a standard, established practice, questioning it may seem a little quaint. More than three-quarters of U.S. companies use performance incentives of some kind. Yet the fact remains, we don’t really know how well they work. Do they encourage people to work harder and smarter?
A hefty debate is underway in the crypto space about whether Bitcoin is mired in a drawn-out bear market. Proponents of the notoriously volatile token say a bounce could be around the corner after it shed half its value from an all-time high in November. But a few industry metrics suggest a crypto winter is already here, according to market-intelligence firm Glassnode.
Last year, shareholder activists teamed up with environmental and socially-minded investors in record numbers. The most successful campaign was arguably hedge fund Engine No. 1’s push to add three climate-conscious directors to the board of fossil-fuel behemoth Exxon Mobil Corp. Other notable initiatives included investor Dan Loeb’s attempt to break up Royal Dutch Shell Plc and Bluebell Capital Partners’s push for a management shakeup at GlaxoSmithKline Plc.
In our latest issue, Andy Rothman discusses how last year’s experiences can help us plan for China’s 2022 economic prospects.
Spurred by rate hike concerns, geopolitical tensions and more, markets saw a 10% correction intra-day today – find out how that impacts our outlook.
Companies are buying raw and intermediate goods at a record pace, which we believe will influence economic growth in 2022.
Since May 2020, the Chinese Yuan has defied the path of other emerging market currencies, strengthening by almost 12%.
Disagreements about the outlook for inflation in the new year and beyond continue.
In our latest outlook we examine the long-term implications of the pandemic, particularly changes to the labor market and the supply chain, and we discuss why we will be focusing on companies with pricing power in 2022.
Meme stocks, cryptocurrencies, the broader stock market: All have tumbled with astonishing speed this year, and few strategists think the pain will end here.
Bitcoin miners are facing a crucial test in the wake of the token’s 50% plunge from an all-time high. While many mining operations made a handsome profit during Bitcoin’s runup last year, the recent decline could punish those with less efficient operations.
Investors have been taking refuge from the Chinese real estate debt crisis in pockets of the broader Asian credit market, and cite India among opportunities that are relatively insulated from the historic turmoil.
Oil prices rose on Tuesday following the biggest one-day tumble this year, with traders refocusing on the outlook for energy demand and shaking off broader weakness in financial markets.
A portfolio’s return is driven by its investment strategy—a set of decisions that governs allocation and timing of capital among the portfolio’s positions.
Given the many forces shaping the economy and markets, 2022 will be a stock picker’s—and a bond picker’s—market. Prices are indeed stretched in pockets of the market, but many areas offer attractive potential supported by compelling fundamentals and exposure to growth themes.
With this morning's release of the November S&P/Case-Shiller Home Price Index, we learned that seasonally adjusted home prices for the benchmark 20-city index saw a 1.18% increase month over month which is cut to 0.74% with inflation adjustment. The non-seasonally adjusted national index saw a 18.8% YoY increase.
Last month, Amplify ETFs expanded its suite of BlackSwan ETFs with the launch of the Amplify BlackSwan Tech & Treasury ETF (NYSE Arca: QSWN). QSWN is an index-based ETF that seeks to hedge against significant losses while still participating in technology & growth equities, without an artificial cap.
QSWN is Amplify’s third BlackSwan ETF. The other BlackSwan ETFs, SWAN and ISWN, have together amassed close to $1 billion in assets. Launched in 2018, SWAN has shown to be an attractive risk-managed investment in the marketplace. ISWN is approaching its one-year anniversary and provides access to international equities.
The COVID-19 pandemic looked set to batter the world’s banks—and yet banks’ balance sheets are now the strongest they’ve been since the global financial crisis (GFC).
When fourth quarter GDP data is released later this week, it will show that 2021 finished on a high note.
Surging markets spurred a buying frenzy for everything from stocks and cryptocurrencies to new homes over the last two years. Now, with inflation at a nearly 40-year high and at least three priced-in rate hikes, the hunt for investing safe havens is on.
With the S&P 500 extending its selloff from a recent record to more than 10%, trading is spiking across exchange-traded funds from leveraged strategies tracking technology shares to those betting on market volatility.
“Supply chain” used to be a piece of business jargon that rarely made its way into normal conversations.
The world’s largest digital asset is mired in its sixth straight day of declines, with the token down roughly 20% over the past seven days. It’s now 50% below its November peak and was trading as low as $32,970 on Monday, the lowest since July.
Laurence Kotlikoff is a world-class economist who can convince you to pay off your mortgage and make you snort out your nose laughing at the same time; Money Magic is his compendium of life hacks aimed at leaving the reader wealthier and happier.
Join our on-demand panel discussions with portfolio managers from all five of our affiliates exploring inflation and monetary policy, lessons from the supply chain breakdown, themes and opportunities in sustainable investing, opportunities in international investing, what’s next in growth vs. value, and what structural changes are here to stay.
A “boatload” of news this week suggests that the shipping industry continues to look very attractive from an investing point of view. Global cargo carriers are estimated to have recorded $150 billion in profits in 2021, the first time they’ve collectively reached that figure in a single year.
Many analysts project China will soon be larger by GDP than the US—which shouldn’t be so hard with a population four times larger—but it’s not clear to me that China’s seemingly unlimited linear growth will continue three or four more decades. I can remember when the same was said about Japan.
The Department of Energy's Energy Information Administration (EIA) monthly data on volume sales is several weeks old when it released. The latest numbers, through mid-November, are now available.
In his renomination hearing, Fed Chair Jerome Powell stressed that the key to maximum sustainable employment and financial stability was keeping inflation low.
When reviewing the current state of the global economy and investment markets, we recommend focusing on market signals and weeding out market noise.
The surge of the coronavirus omicron variant has implications not only for broader asset-class allocations but also for macro exposures within asset classes.
Headquartered in Japan, Sysmex is the No. 1 provider of blood diagnostics equipment in the world.
The latest Conference Board Leading Economic Index (LEI) for December was up 0.8% from the November final figure of 119.9. Annual revisions were made.
For China, the year ahead holds special political and economic significance.
All 2-sigma equity bubbles in developed countries have broken back to trend.
With January being a month for prognostications, David Mann, our Head of Global Exchange-Traded Funds (ETFs) Capital Markets, shares his annual outlook for the ETF industry and key trends he sees taking shape in 2022.
A rapid one-two punch of interest-rate hikes and balance-sheet reduction from the Federal Reserve risks unsettling bond and stock markets that have already taken a beating.
The head of the Bank for International Settlements, Agustin Carstens, recently set out a dark vision for our financial future, quoting Goethe’s “Faust” and claiming that the “soul” of money was at stake.
Exiting bankruptcy alone won’t bring Puerto Rico prosperity and vitality. But it’s a crucial first step.
There are three pillars of investing for us at Smead Capital Management.
“Don’t Fight The Fed.” But, unfortunately, that mantra has remained a “call to arms” of the financial markets and media “bullish tribes” over the last decade.
Most investors need little persuading that emerging markets offer exciting opportunities.
There is no shortage of candidates for the title of the most dangerous business idea of the moment. Management-by-algorithm may remove what humanity there is left in the corporate world. The office-less future may dissolve workers into angst-ridden atoms. I want to suggest a less obvious contender for the title: “social purpose.”
The industry has been slammed by a combination of concerns about higher U.S. interest rates, a probable reduction in solar-system subsidies for California homeowners, the broader stock market rotation out of high-growth technology companies and the obstruction of President Joe Biden’s stalled “Build Back Better” agenda by 50 Republicans and two Democrats, Joe Manchin and Kyrsten Sinema.
Walk into a U.S. supermarket, and chances are you’ll see some empty shelves once more. It’s an unwelcome throwback to earlier stages of the pandemic.
Climate change concerns are growing among top executives at global firms, but they still struggle to implement solutions across their firms to address those worries.
Rougher seas lie ahead for non-profit fiduciaries as the COVID-19 pandemic stretches into 2022 and refuses to retreat quietly into the night.
Last week, U.S. Treasury bond yields, climbed back to their pre-pandemic levels.
With more than 12,000 crypto assets in existence and the potential to power decentralized transactions using blockchain technologies, crypto assets are a new and evolving approach to capturing highly sought-after benefits. Together with renowned index provider Nasdaq, Inc. and crypto-focused asset manager Hashdex Asset Management Ltd., Victory Capital has created a way for investors to gain broad-based market exposure to an emerging asset class for a relatively low cost and without lockups.
Just three out of eight indexes on our world watch list posted gains through January 18, 2022. The top performer is India's BSE SENSEX with a YTD gain of 4.29%. Hong Kong's Hang Seng is in second with a gain of 3.06%, and London's FTSE 100 is in third with a gain of 2.42%. Coming in last is our own S&P with a loss of 3.97%.
This Monday would’ve been Muhammed Ali’s 80th birthday!
Members of Loomis Sayles' Global Credit Sector Team share their views on key themes in 2022.
Now that the Fed has officially stopped referring to inflation as “transitory,” the question is whether they can bring it under control without slowing the economy. In our view, they have the right tools – reducing the balance sheet and raising the fed funds rate – they just need to trust their data and keep a steady hand on the wheel.
Markets are weird right now. The value of risk-free assets has gone all out of whack, and if that doesn't seem scary, keep reading.
What insights can we glean beyond last year’s impressive 28% return? How did it compare it to global equities? I will show you some of the winners and losers, and finish with a few observations on the VIX.
It is not a matter of if the markets will correct but a matter of when. That is why I set the stage for corrections during my client meetings, by sharing what I plan to do when we have one.
Howard Marks’s latest memo considers one of investing’s most fundamental questions: when to sell. Howard explains that it’s foolish to sell because prices are up and because they’re down – and why, most of the time, staying invested is ultimately “the most important thing.”
The flow of excess cash has returned to normal, but the stock is still quite elevated.
In 1837, as in 2022, there was general certainty that prices were determined by the money supply – the quantity of legal tender circulating in the economy.
Few inventions have touched so many lives as the container.
In an economy where the Fed has lost every systematic tether to common sense, empirical evidence, and concern for financial stability, it’s worth beginning this first market comment of 2022 by recalling the ways we’ve adapted in order to navigate that environment.
The strong inflation report combined with employment data will likely prompt the U.S. Federal Reserve to begin hiking its policy rate in March.
As we reflect on 2021, we can’t help but feel it was quite a year. Looking ahead, we think many of the same headwinds and tailwinds are likely to persist in 2022, so we are trying to find the right balance between offense and defense.
Loomis Sayles' Emerging Markets Debt Sector Team share their views on key themes in 2022.
The Northern Trust Economics team shares its outlook for the Federal Reserve and the U.S. economy.
The year ended on a highly upbeat tone for investors as equities rose to new heights against a backdrop of inflation and a prolonged pandemic
In our Q3 market commentary, we described the primary economic fears behind a lackluster and trendless market.
Transamerica Asset Management, Inc., CIO Tom Wald discusses market risks and opportunities awaiting investors as 2022 begins. Tom will cover an array of topics, including U.S. and international stocks, the economy, interest rates, Fed policy, credit markets, and international strategies. He will dive deep into the impacts of COVID-19 trends and its variants, as well as inflation. He'll explore the prospects for economic growth in the year ahead, plus the possible ramifications of a break in strong pent-up consumer demand.
2021 is now in the rear-view mirror and I believe that future financial historians may regard it as the year of peak speculation.
Based in Tokyo, Japan, Kurita Water is a global leader in water management and water treatment chemicals.
Oil climbed after two major agencies indicated that markets may be tighter than previously forecast and a U.S. government report showed crude inventories plummeted.
Bitcoin climbed above $44,000 for the first time in a week as the most U.S. inflation in four decades revives the debate about whether the cryptocurrency is a hedge against rising consumer prices.
Impact investing is gaining interest as a growing share of investors seeks tangible progress on environmental and social goals alongside financial returns.
This is the 3rd in a series of 11 videos where I will cover each of the 11 sectors looking for value. There are somewhere between 18,000 to 20,000 stocks comprising the US and Canadian stock markets. With
Inflation is rising rapidly, not an unexpected outcome given governments’ pandemic policy response of ballooning deficits and soaring government debt.
Monetary policy has driven U.S. stock prices to excessive valuations, according to Jeffrey Gundlach. But they remain cheap relative to bonds.
The global macro environment is ripe for EM assets outperformance as a combination of stronger growth in China, the end of exceptionalism in the US and less uncertainty on US interest rates, lead to a strong backdrop for EM assets.
Uncertainty has become an ongoing theme in markets, economies, and communities everywhere, and in this environment, PIMCO investment professionals gathered – virtually, once again – for our recent Cyclical Forum.
“Speculative” is a word that aptly sums up the year 2021.
Things are about to get worse -- but after that, they should steadily get better. That’s roughly how economists envisage the path of U.S. inflation in the year ahead.
Global Markets
Richard Bernstein: Valuations Matter and How to Reposition Allocations
Concerns around high equity valuations and rising asset prices are finally manifesting. In this webinar, Richard Bernstein will examine the critical shift in the markets - focusing on the anti-tech trade, cyclicals, consumer staples and other areas where RBA is finding opportunities and isolating risks.
At Richard Bernstein Advisors (RBA) we employ a disciplined, top-down approach – we generate alpha by uncovering global investment styles and themes where we believe there are disparities between fundamentals and sentiment. And in current markets, disparities are large.
We seek to beat the market through individual stock selection. We are focused on fundamentals – with particular emphasis on corporate profit cycles rather than economic cycles.
Mr. Bernstein, CEO/CIO of RBA will be addressing key areas that will be important for you and your clients:
Kansas City Fed Survey: Activity Expanded in January
The latest index came in at 24, up from 22 last month, indicating steady continued expansion in January. The future outlook rose to 37. All figures are seasonally adjusted. Here is a snapshot of the complete Kansas City Fed Manufacturing Survey.
Pending Home Sales Fell in December
The National Association of Realtors released the December data for their Pending Home Sales Index. According to the National Association of Realtors®, "Pending home sales fell in December, denoting two straight months of declines."
Global Economic Outlook: Touch And Go
The Northern Trust Economics team shares its outlook for key markets in the month ahead.
The Crypto Crash Strengthens the Case for Crypto
Crypto prices are tumbling. By one account, crypto assets have lost about $1.35 trillion globally since November, with some falling in price by 80% or more. Many investors feel a real pinch.
Where the Billions Pouring Into the Energy Transition Are Going
Energy transition investment follows familiar patterns in global capital markets. Large, established financial institutions supply hundreds of billions of dollars a year to finance construction of long-lived assets using familiar zero-carbon technologies — i.e., deployment.
Fed Fallout Triggers Global Yield Spike as Tighter Policy Looms
Bonds tumbled across the world on Thursday after Federal Reserve Chairman Jerome Powell’s latest hawkish pivot, with yields from Wellington to London breaching multi-year highs.
Value Stocks, U.S. Dollar Among Top Trades After Hawkish Fed
Strategists are mapping out their best trade ideas after Federal Reserve Chair Jerome Powell set the stage for raising interest rates to combat the highest inflation since 1982.
Liftoff in March
The Fed stayed the course today, with no change in the Fed Funds rate, no adjustment to the pace of tapering, no shift in the timeline for raising rates, and no indication that they intend to lift rates in larger steps.
12 Stocks in the Industrials Sector
This is the 7th in a series of 11 videos where I will cover each of the 11 sectors looking for value.
A Bonus Matters More When Its Size Is a Pleasant Surprise: Sarah Green Carmichael
The yearly paying out of lump sums to reward top talent is such a standard, established practice, questioning it may seem a little quaint. More than three-quarters of U.S. companies use performance incentives of some kind. Yet the fact remains, we don’t really know how well they work. Do they encourage people to work harder and smarter?
Three Bitcoin Metrics Suggest a Prolonged Bear Market Is Here
A hefty debate is underway in the crypto space about whether Bitcoin is mired in a drawn-out bear market. Proponents of the notoriously volatile token say a bounce could be around the corner after it shed half its value from an all-time high in November. But a few industry metrics suggest a crypto winter is already here, according to market-intelligence firm Glassnode.
Climate Activists Poised to See Big Gains in 2022
Last year, shareholder activists teamed up with environmental and socially-minded investors in record numbers. The most successful campaign was arguably hedge fund Engine No. 1’s push to add three climate-conscious directors to the board of fossil-fuel behemoth Exxon Mobil Corp. Other notable initiatives included investor Dan Loeb’s attempt to break up Royal Dutch Shell Plc and Bluebell Capital Partners’s push for a management shakeup at GlaxoSmithKline Plc.
Planning for ’22 with Lessons from ‘21
In our latest issue, Andy Rothman discusses how last year’s experiences can help us plan for China’s 2022 economic prospects.
Investment Strategy Commentary: Market Pullback
Spurred by rate hike concerns, geopolitical tensions and more, markets saw a 10% correction intra-day today – find out how that impacts our outlook.
Precautionary Stockpiling and Its Impact on Growth
Companies are buying raw and intermediate goods at a record pace, which we believe will influence economic growth in 2022.
Why Has the Chinese Yuan Been So Strong, Will it Last, and What Does it Mean for the US?
Since May 2020, the Chinese Yuan has defied the path of other emerging market currencies, strengthening by almost 12%.
Quick Thoughts: The Inflation Debate
Disagreements about the outlook for inflation in the new year and beyond continue.
Equity Investment Outlook: The Pandemic’s Long Tail
In our latest outlook we examine the long-term implications of the pandemic, particularly changes to the labor market and the supply chain, and we discuss why we will be focusing on companies with pricing power in 2022.
Market Crash Hands Defeat to Traders Who Warred With Wall Street
Meme stocks, cryptocurrencies, the broader stock market: All have tumbled with astonishing speed this year, and few strategists think the pain will end here.
Bitcoin’s Price Tumble Tests Resilience of Crypto Miners
Bitcoin miners are facing a crucial test in the wake of the token’s 50% plunge from an all-time high. While many mining operations made a handsome profit during Bitcoin’s runup last year, the recent decline could punish those with less efficient operations.
Where Investors Fleeing Chinese Property Are Putting Their Money
Investors have been taking refuge from the Chinese real estate debt crisis in pockets of the broader Asian credit market, and cite India among opportunities that are relatively insulated from the historic turmoil.
Oil Shakes Off Broader Market Weakness to Rise on Robust Demand
Oil prices rose on Tuesday following the biggest one-day tumble this year, with traders refocusing on the outlook for energy demand and shaking off broader weakness in financial markets.
ESG Is a Preference, Not a Strategy
A portfolio’s return is driven by its investment strategy—a set of decisions that governs allocation and timing of capital among the portfolio’s positions.
1Q 2022 Outlooks from the Calamos Investment Team
Given the many forces shaping the economy and markets, 2022 will be a stock picker’s—and a bond picker’s—market. Prices are indeed stretched in pockets of the market, but many areas offer attractive potential supported by compelling fundamentals and exposure to growth themes.
November S&P/Case-Shiller Home Price Index: National Index up 18.8% YoY
With this morning's release of the November S&P/Case-Shiller Home Price Index, we learned that seasonally adjusted home prices for the benchmark 20-city index saw a 1.18% increase month over month which is cut to 0.74% with inflation adjustment. The non-seasonally adjusted national index saw a 18.8% YoY increase.
New Black Swan ETF
Last month, Amplify ETFs expanded its suite of BlackSwan ETFs with the launch of the Amplify BlackSwan Tech & Treasury ETF (NYSE Arca: QSWN). QSWN is an index-based ETF that seeks to hedge against significant losses while still participating in technology & growth equities, without an artificial cap.
QSWN is Amplify’s third BlackSwan ETF. The other BlackSwan ETFs, SWAN and ISWN, have together amassed close to $1 billion in assets. Launched in 2018, SWAN has shown to be an attractive risk-managed investment in the marketplace. ISWN is approaching its one-year anniversary and provides access to international equities.
Why Banks' Balance Sheets Are in Better Shape
The COVID-19 pandemic looked set to batter the world’s banks—and yet banks’ balance sheets are now the strongest they’ve been since the global financial crisis (GFC).
The 2021 Finish: Fast Growth, High Inflation
When fourth quarter GDP data is released later this week, it will show that 2021 finished on a high note.
Real Estate Is Emerging as a Hedge Against Roaring Inflation
Surging markets spurred a buying frenzy for everything from stocks and cryptocurrencies to new homes over the last two years. Now, with inflation at a nearly 40-year high and at least three priced-in rate hikes, the hunt for investing safe havens is on.
Worried Traders Make Dash for Stock Liquidity as Selloff Worsens
With the S&P 500 extending its selloff from a recent record to more than 10%, trading is spiking across exchange-traded funds from leveraged strategies tracking technology shares to those betting on market volatility.
Supply Side Problems Persist
“Supply chain” used to be a piece of business jargon that rarely made its way into normal conversations.
Bitcoin’s New Floor Is $30,000 as 50% Rout Destroys Old Supports
The world’s largest digital asset is mired in its sixth straight day of declines, with the token down roughly 20% over the past seven days. It’s now 50% below its November peak and was trading as low as $32,970 on Monday, the lowest since July.
An Economist Looks at School, Marriage, Divorce, and Moving in with Your Mom
Laurence Kotlikoff is a world-class economist who can convince you to pay off your mortgage and make you snort out your nose laughing at the same time; Money Magic is his compendium of life hacks aimed at leaving the reader wealthier and happier.
Partner Perspectives 2022 Annual Outlook
Join our on-demand panel discussions with portfolio managers from all five of our affiliates exploring inflation and monetary policy, lessons from the supply chain breakdown, themes and opportunities in sustainable investing, opportunities in international investing, what’s next in growth vs. value, and what structural changes are here to stay.
The Shipping Industry Has Never Been So Profitable as It Is Now
A “boatload” of news this week suggests that the shipping industry continues to look very attractive from an investing point of view. Global cargo carriers are estimated to have recorded $150 billion in profits in 2021, the first time they’ve collectively reached that figure in a single year.
Beijing’s Dilemmas
Many analysts project China will soon be larger by GDP than the US—which shouldn’t be so hard with a population four times larger—but it’s not clear to me that China’s seemingly unlimited linear growth will continue three or four more decades. I can remember when the same was said about Japan.
Gasoline Volume Sales Down 8.9% YoY
The Department of Energy's Energy Information Administration (EIA) monthly data on volume sales is several weeks old when it released. The latest numbers, through mid-November, are now available.
Weekly Market Snapshot
In his renomination hearing, Fed Chair Jerome Powell stressed that the key to maximum sustainable employment and financial stability was keeping inflation low.
The WisdomTree Q1 2022 Economic and Market Outlook in 10 Charts or Less
When reviewing the current state of the global economy and investment markets, we recommend focusing on market signals and weeding out market noise.
Bolstering Asset Allocation Defenses Against COVID-19
The surge of the coronavirus omicron variant has implications not only for broader asset-class allocations but also for macro exposures within asset classes.
Spotlight Sysmex: On the Bleeding Edge of Health Care Diagnostics
Headquartered in Japan, Sysmex is the No. 1 provider of blood diagnostics equipment in the world.
CB LEI: Rising Trajectory Continues in December
The latest Conference Board Leading Economic Index (LEI) for December was up 0.8% from the November final figure of 119.9. Annual revisions were made.
China’s Economy in the Year of the Tiger
For China, the year ahead holds special political and economic significance.
Let The Wild Rumpus Begin
All 2-sigma equity bubbles in developed countries have broken back to trend.
ETF Trends to Watch in 2022: Conversions, International Interest and Sustainable Funds
With January being a month for prognostications, David Mann, our Head of Global Exchange-Traded Funds (ETFs) Capital Markets, shares his annual outlook for the ETF industry and key trends he sees taking shape in 2022.
Markets Tremble at Fed’s Unprecedented Double-Edged Tightening
A rapid one-two punch of interest-rate hikes and balance-sheet reduction from the Federal Reserve risks unsettling bond and stock markets that have already taken a beating.
Central Banks Face a Moment of Truth on Crypto
The head of the Bank for International Settlements, Agustin Carstens, recently set out a dark vision for our financial future, quoting Goethe’s “Faust” and claiming that the “soul” of money was at stake.
Puerto Rico’s Bankruptcy Exit Isn’t the Finish Line
Exiting bankruptcy alone won’t bring Puerto Rico prosperity and vitality. But it’s a crucial first step.
Outlook 2022: Polar Opposites
There are three pillars of investing for us at Smead Capital Management.
“Don’t Fight The Fed”
“Don’t Fight The Fed.” But, unfortunately, that mantra has remained a “call to arms” of the financial markets and media “bullish tribes” over the last decade.
Emerging-Market Investors Can't Afford to Ignore ESG Factors
Most investors need little persuading that emerging markets offer exciting opportunities.
Business Doesn’t Need a ‘Social Purpose’ Revolution
There is no shortage of candidates for the title of the most dangerous business idea of the moment. Management-by-algorithm may remove what humanity there is left in the corporate world. The office-less future may dissolve workers into angst-ridden atoms. I want to suggest a less obvious contender for the title: “social purpose.”
Battered Clean Energy Stocks May Soon Recover
The industry has been slammed by a combination of concerns about higher U.S. interest rates, a probable reduction in solar-system subsidies for California homeowners, the broader stock market rotation out of high-growth technology companies and the obstruction of President Joe Biden’s stalled “Build Back Better” agenda by 50 Republicans and two Democrats, Joe Manchin and Kyrsten Sinema.
Why Are U.S. Grocery Shelves Out of Everything Again?
Walk into a U.S. supermarket, and chances are you’ll see some empty shelves once more. It’s an unwelcome throwback to earlier stages of the pandemic.
Despite Growing Climate Fears, Global Firms Struggle With Solutions
Climate change concerns are growing among top executives at global firms, but they still struggle to implement solutions across their firms to address those worries.
The 2022 List Issue, Part 5: 4 Steps for Non-Profit Fiduciaries to Consider This Year
Rougher seas lie ahead for non-profit fiduciaries as the COVID-19 pandemic stretches into 2022 and refuses to retreat quietly into the night.
What Do Rising Rates Mean for Stock Investors?
Last week, U.S. Treasury bond yields, climbed back to their pre-pandemic levels.
A Private Fund to Invest in Cryptocurrencies
With more than 12,000 crypto assets in existence and the potential to power decentralized transactions using blockchain technologies, crypto assets are a new and evolving approach to capturing highly sought-after benefits. Together with renowned index provider Nasdaq, Inc. and crypto-focused asset manager Hashdex Asset Management Ltd., Victory Capital has created a way for investors to gain broad-based market exposure to an emerging asset class for a relatively low cost and without lockups.
World Markets Update: January 18, 2022
Just three out of eight indexes on our world watch list posted gains through January 18, 2022. The top performer is India's BSE SENSEX with a YTD gain of 4.29%. Hong Kong's Hang Seng is in second with a gain of 3.06%, and London's FTSE 100 is in third with a gain of 2.42%. Coming in last is our own S&P with a loss of 3.97%.
Weekly Investment Strategy
This Monday would’ve been Muhammed Ali’s 80th birthday!
2022 Global Credit Outlook: Views on Growth, the ECB and ESG Investing
Members of Loomis Sayles' Global Credit Sector Team share their views on key themes in 2022.
Total Return Outlook: We Have Liftoff!
Now that the Fed has officially stopped referring to inflation as “transitory,” the question is whether they can bring it under control without slowing the economy. In our view, they have the right tools – reducing the balance sheet and raising the fed funds rate – they just need to trust their data and keep a steady hand on the wheel.
How Safe Assets Became Investors' Biggest Risk
Markets are weird right now. The value of risk-free assets has gone all out of whack, and if that doesn't seem scary, keep reading.
Deep Analytic Market Insights for 2021
What insights can we glean beyond last year’s impressive 28% return? How did it compare it to global equities? I will show you some of the winners and losers, and finish with a few observations on the VIX.
Live by the Returns, Die by the Returns
It is not a matter of if the markets will correct but a matter of when. That is why I set the stage for corrections during my client meetings, by sharing what I plan to do when we have one.
Selling Out
Howard Marks’s latest memo considers one of investing’s most fundamental questions: when to sell. Howard explains that it’s foolish to sell because prices are up and because they’re down – and why, most of the time, staying invested is ultimately “the most important thing.”
Last Year's Saving Is This Year’s Spending
The flow of excess cash has returned to normal, but the stock is still quite elevated.
Andrew Jackson Shortens the Credit Chain
In 1837, as in 2022, there was general certainty that prices were determined by the money supply – the quantity of legal tender circulating in the economy.
Consider the Humble Shipping Container
Few inventions have touched so many lives as the container.
Return-Free Risk
In an economy where the Fed has lost every systematic tether to common sense, empirical evidence, and concern for financial stability, it’s worth beginning this first market comment of 2022 by recalling the ways we’ve adapted in order to navigate that environment.
December CPI Data Suggests U.S. Inflation May Be Stabilizing, But Hasn’t Peaked Yet
The strong inflation report combined with employment data will likely prompt the U.S. Federal Reserve to begin hiking its policy rate in March.
Strategic Income Outlook: One Heck of a Year
As we reflect on 2021, we can’t help but feel it was quite a year. Looking ahead, we think many of the same headwinds and tailwinds are likely to persist in 2022, so we are trying to find the right balance between offense and defense.
2022 Emerging Markets Debt Outlook: Views on Fundamentals, EM Asia and Opportunities
Loomis Sayles' Emerging Markets Debt Sector Team share their views on key themes in 2022.
In Like A Lion
The Northern Trust Economics team shares its outlook for the Federal Reserve and the U.S. economy.
Q4 2021: “Tracking the Recovery: Inflationary Pressure a Symptom Not the Cause”
The year ended on a highly upbeat tone for investors as equities rose to new heights against a backdrop of inflation and a prolonged pandemic
The Long and Winding Road That Leads to ‘Normal’
In our Q3 market commentary, we described the primary economic fears behind a lackluster and trendless market.
Where We Stand: Transamerica 2022 Market Outlook
Transamerica Asset Management, Inc., CIO Tom Wald discusses market risks and opportunities awaiting investors as 2022 begins. Tom will cover an array of topics, including U.S. and international stocks, the economy, interest rates, Fed policy, credit markets, and international strategies. He will dive deep into the impacts of COVID-19 trends and its variants, as well as inflation. He'll explore the prospects for economic growth in the year ahead, plus the possible ramifications of a break in strong pent-up consumer demand.
The Year Of Living Dangerously
2021 is now in the rear-view mirror and I believe that future financial historians may regard it as the year of peak speculation.
Spotlight Kurita: Water as Breakthrough Technology
Based in Tokyo, Japan, Kurita Water is a global leader in water management and water treatment chemicals.
Oil Gains as U.S. Crude Stockpiles Drop to Lowest Since 2018
Oil climbed after two major agencies indicated that markets may be tighter than previously forecast and a U.S. government report showed crude inventories plummeted.
Bitcoin Climbs After Inflation Jump Rekindles Hedging Debate
Bitcoin climbed above $44,000 for the first time in a week as the most U.S. inflation in four decades revives the debate about whether the cryptocurrency is a hedge against rising consumer prices.
The Case for Impact Investing in Public Equities
Impact investing is gaining interest as a growing share of investors seeks tangible progress on environmental and social goals alongside financial returns.
8 Stocks to Buy in the Consumer Staples Sector
This is the 3rd in a series of 11 videos where I will cover each of the 11 sectors looking for value. There are somewhere between 18,000 to 20,000 stocks comprising the US and Canadian stock markets. With
Inflation Is Here! What Now?
Inflation is rising rapidly, not an unexpected outcome given governments’ pandemic policy response of ballooning deficits and soaring government debt.
Gundlach’s 2022 Forecast: Equities are Expensive but Cheap Relative to Bonds
Monetary policy has driven U.S. stock prices to excessive valuations, according to Jeffrey Gundlach. But they remain cheap relative to bonds.
Four Mega-Trends Shaping the 2022 Outlook and Beyond
The global macro environment is ripe for EM assets outperformance as a combination of stronger growth in China, the end of exceptionalism in the US and less uncertainty on US interest rates, lead to a strong backdrop for EM assets.
Investing in a Fast‑Moving Cycle
Uncertainty has become an ongoing theme in markets, economies, and communities everywhere, and in this environment, PIMCO investment professionals gathered – virtually, once again – for our recent Cyclical Forum.
Speculative Mania – Was 2021 The Peak?
“Speculative” is a word that aptly sums up the year 2021.
The Clashing Forces That Will Drive U.S. Inflation in 2022
Things are about to get worse -- but after that, they should steadily get better. That’s roughly how economists envisage the path of U.S. inflation in the year ahead.