January 24, 2020 Valuing Equities in a Low-Growth World by Mark Phelps As we enter a period of lower growth globally, investors have given higher valuations to companies that can achieve consistent growth. This seems logical, but are we in danger of overpaying? Equities, Late-Cycle Investing Likes 0 SHARE Bookmarks
January 23, 2020 Will the Wuhan Coronavirus Infect China’s Economy? by Mo Ji A virus is spreading across China, causing disruption, severe illness and even death. In addition to the tragic human cost of an epidemic, widespread disease can cause significant macroeconomic damage. We estimate the potential impact of the Wuhan coronavirus on China’s GDP growth. Economics, Emerging Markets Likes 0 SHARE Bookmarks
January 22, 2020 Our Emerging-Market Debt Outlook: Dipping into 2020 by Shamaila Khan Emerging-market debt is unlikely to reprise last year’s stellar performance as the global economy slows in 2020, but it’s still worthwhile to dip into compelling opportunities. Emerging Markets, Fixed Income Likes 0 SHARE Bookmarks
January 20, 2020 Five Multi-Asset Strategies for 2020’s Challenges by Daniel J. Loewy, Karen Watkin The last decade produced great performance across most asset classes. But in the 2020s, we expect investment market returns will be lower and risk harder to manage. Looking forward, a disciplined multi-asset approach will be especially valuable to identify opportunities and help mitigate setbacks. Asset Allocation, Multi-Asset Likes 0 SHARE Bookmarks
January 17, 2020 How to Balance Your Bond Portfolio in 2020 by Matthew Sheridan In a low-yield, late-cycle environment, the right mix of credit securities and government bonds can help fixed-income investors boost income and tame volatility. Fixed Income, Late-Cycle Investing, Volatility Likes 0 SHARE Bookmarks
January 17, 2020 Are Low-Volatility Stocks Too Expensive? by Kent Hargis, Sammy Suzuki, Chris Marx Even as global stocks climbed in 2019, market volatility persisted. By some measures, lower-volatility stocks now look quite expensive. But in fact, high-quality stocks that can help protect portfolios can be found at reasonable prices, if you know where to look. Active & Passive , Equities, Volatility Likes 0 SHARE Bookmarks
January 16, 2020 The Phase-One US-China Trade Agreement: Cease-Fire, Not Peace Treaty by Eric Winograd The US and China formally signed a phase-one trade deal Wednesday after several months of negotiations. We see the deal as a near-term positive for markets—but it also leaves the thorniest issues between the two countries unresolved. Economics, Trade Wars Likes 0 SHARE Bookmarks
January 13, 2020 Finding Valuable Opportunities in US Value Equities by James MacGregor The opportunity in value stocks is significant, with the spread between value and growth stocks as wide as it has been in almost 20 years. Companies that have quality metrics and an underlying investment catalyst will have the strength to deal with an uncertain economic climate, regardless of what any investor’s market expectations are for 2020 and 2021. Equities Likes 0 SHARE Bookmarks
January 09, 2020 Fixed Income Outlook: Keep an Eye on Systemic Risks in 2020 by Scott DiMaggio, Gershon Distenfeld With bond yields near record lows, can fixed-income markets generate solid returns in 2020 without forcing investors to take too much risk? From a fraught geopolitical landscape to a global slowdown, we assess today’s biggest challenges—and opportunities. Fixed Income, Later in the Cycle, Trade Wars, Volatility Likes 0 SHARE Bookmarks
January 07, 2020 Equity Outlook: Between Optimism and a Hard Place in 2020 by Sharon Fay, Christopher Hogbin Global stock markets rallied in 2019, defying political and macroeconomic uncertainty. Will investors be as fortunate in 2020? Since many risks remain, maintaining style diversity and finding investing themes that are detached from volatility drivers will be important ingredients for equity allocations. Equities, Volatility Likes 0 SHARE Bookmarks
January 06, 2020 How Will Trade Wars and Populism Play Out? by Darren Williams, Guy Bruten Brexit, US–China trade tensions, elections around the world—these issues are linked to much deeper, longer running populist trends which aren’t going away any time soon. These and other populist concerns will contribute for some time to the slow-growth environment we’re in now. Brexit, Economics, Trade Wars Likes 0 SHARE Bookmarks
December 23, 2019 Stick to the Plan! Benefits of Remaining in DC Plans During Retirement by Jennifer DeLong, Andrew Stumacher The SECURE Act will likely prompt more DC plan sponsors to seriously consider adopting a lifetime income solution. Plan sponsors may also determine that they want to let participants keep their assets in the DC plan during the withdrawal phase of retirement. This could be beneficial for both the plan and the participants. Target-Date Solutions Likes 0 SHARE Bookmarks
December 20, 2019 Lifetime Income: Weighing Costs vs. Benefits by Jennifer DeLong, Andrew Stumacher With the likely passage of the SECURE Act within the new government appropriations bill, annuities will gain safe harbor protections. This—and presumed cost concerns—has been a sticking point making some plan sponsors hesitate to offer a lifetime income solution in their defined contribution plans. There are important and valuable benefits that only annuities can provide. So they deserve another look. Target-Date Solutions Likes 0 SHARE Bookmarks
December 18, 2019 Three Possible Paths for Fed Interest Rate Policy in 2020 by Eric Winograd The US Fed held rates steady in December and plans to continue that stance through 2020. But a lot can happen to change the Fed’s mind—after all, it entered 2019 expecting to hike rates and ended up with three cuts. What does 2020 have in store? Economics, Late-Cycle Investing Likes 0 SHARE Bookmarks
December 17, 2019 Investing in Chinese Stocks After the Trade Truce by John Lin, Stuart Rae Now that the US and China have agreed to begin easing trade tensions, the fog over China’s markets is starting to lift. Investors should consider Chinese equity opportunities that have been overlooked because of tariff fears. China, Emerging Markets, Equities, Trade Wars Likes 0 SHARE Bookmarks
December 16, 2019 Now Boris Can Get Brexit Done—But How? by Darren Williams After a decisive victory in the UK’s general election, Prime Minister Boris Johnson has a strong mandate to “get Brexit done.” But the eventual shape of his Brexit deal is still far from clear. Brexit Likes 0 SHARE Bookmarks