Cold Facts in Emerging Market Fridges

Tassos Stassopoulos

It’s not easy for investors to grasp the dynamics of consumer spending in diverse emerging markets. We think the best way is to look inside the refrigerators of people across the developing world.

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Tax Inversions: Tail Wags Dog?

James T. Tierney, Jr.

The uproar over Pfizer’s failed bid for AstraZeneca has faded, but the tax inversion debate is just heating up. This week, Medtronic’s offer for Covidien has again raised questions about why companies are so eager to move their tax homes abroad—and what it means for investors.

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Multisector Plan Can Help Avoid the Crowd in Credit

Ashish Shah


Chasing returns into—and out of—specific credit sectors happens so often in bond markets that it hardly rates a raised eyebrow. But running with the herd can be risky, which is probably why Federal Reserve officials reportedly have discussed slapping exit fees on bond funds to avoid a disorderly rush to the exit.

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Coming to Grips with Excess Revenue Sharing

Daniel A. Notto

US defined contribution (DC) plan fees have been hit with heavy scrutiny recently—from Department of Labor (DOL) disclosure regulations to a rash of lawsuits that have cost several large plan sponsors millions of dollars in settlements and judgments. But perhaps one of the most interesting fee issues today focuses on revenue sharing.

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Is Opportunity Bubbling in Oil Pricing?

Vadim Zlotnikov

Longer-dated oil futures contracts have been on the rise so far in 2014, and we think there’s a good case to be made that they’ve got further to go. The potential for an upside oil-price surprise may point to investment opportunity.

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Who’s Afraid of Low, Low Rates?

James T. Tierney, Jr.

Falling yields on Treasuries are often seen as a signal of a weakening economy that could undermine stocks. We think there are other explanations that don’t threaten the outlook for equities.

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Muni Investors Should Watch Both Ends of the Curve

Guy Davidson

In early 2013, we urged investors to take a hard look at the interest-rate risk in their bond portfolios. If they didn’t do it then, they have a chance to do it now.

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Keep an Eye on LBOs, but Don’t Fret Just Yet

Jeff Skoglund

This year’s leveraged buyouts (LBOs) are being financed with more debt and include fewer protections for creditors. Regulators, the press and market participants are watching this closely, and so are we. But we don’t think it’s worth losing sleep over—at least not yet.

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Australian Value Returns to Form

Hamish FitzSimons

Investors in Australia have been wary of undervalued, risky stocks in recent years. But today, market conditions have improved and many attractively valued companies have strong balance sheets, which we think should support a continued recovery.

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Bold ECB Plan Fails to Quell QE Talk

Darren Williams

This week, the European Central Bank (ECB) announced a bigger and broader package of stimulus measures than anyone anticipated. But don’t hold your breath for a material near-term boost to growth or inflation in the region.

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