Is Levering Bonds a Loser’s Game Today?

By Michael DePalma (pictured) and Arnab Nilim Multi-asset strategies like risk parity owe much of their popularity to their ability to navigate the global financial crisis. Lately, critics have cited levered bond returns as the driver—and as a looming headwind. We think they’re missing a key point.

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Forget Volatility; Watch Credit Quality, Maturity

If you’re worried about the recent spike in bond market volatility, we’ve got a bit of advice: Don’t be. There are plenty of other risks—chiefly credit quality and flatter yield curves—that are causing shakeups in some corners of the fixed-income world. Happily, there are things you can do about them.

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GDP Leaves False Trail in Emerging Equities

Morgan C. Harting (pictured) and Nelson Yu Many investors in emerging markets (EMs) believe that identifying the fastest-growing economies is the key to finding higher returns. But while this approach has been effective in fixed-income investing, our research shows that it’s fairly useless for guiding country selection in developing-market equities.

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GDP Leaves False Trail in Emerging Equities

Morgan C. Harting (pictured) and Nelson Yu Many investors in emerging markets (EMs) believe that identifying the fastest-growing economies is the key to finding higher returns. But while this approach has been effective in fixed-income investing, our research shows that it’s fairly useless for guiding country selection in developing-market equities.

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Time to Rethink China’s Equity Markets

Plans for a new Shanghai-Hong Kong trading system are among three developments that we expect will give a boost to China’s equity markets in the medium to long term. So despite concern about the economic outlook, now could be the time to begin rethinking China from an investment perspective.

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Time to Rethink China’s Equity Markets

Plans for a new Shanghai-Hong Kong trading system are among three developments that we expect will give a boost to China’s equity markets in the medium to long term. So despite concern about the economic outlook, now could be the time to begin rethinking China from an investment perspective.

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US Housing Rebound Puts Spotlight on Real Estate

With a US housing recovery in full swing, this may be a good time for investors to consider securities backed by residential real estate. We think they’re an attractive way to diversify exposure to high-yield bonds and other risk-seeking assets.

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US Housing Rebound Puts Spotlight on Real Estate

With a US housing recovery in full swing, this may be a good time for investors to consider securities backed by residential real estate. We think they’re an attractive way to diversify exposure to high-yield bonds and other risk-seeking assets.

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Brainpower: Man vs. Machine

Throughout history, humans have been the most intelligent beings on earth. But is this about to change? The advancement of neural networks could be the single most important development in helping machines think more like humans. Investors should take note.

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Does Stock Picking Still Work in Emerging Markets?

Many things have changed in emerging markets (EMs) over the last two decades. Markets are more efficient than they used to be. But we believe that developing countries still provide fertile ground for finding stocks poised to outperform.

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