July 10, 2018 Supreme Court Decision Could Relieve Stress for Some States Thanks to the Supreme Court’s decision in South Dakota v. Wayfair, Inc., states can now choose to levy sales taxes on online transactions with no physical retail presence within the state. Our chart shows the potential impact on state budgets. Fixed Income, Municipals, Policy & Regulation Likes 1 SHARE Bookmarks
July 09, 2018 Global Cyclical Outlook: The Cycle Matures As the global economic cycle moves into a more mature stage, monetary policy is becoming generally less accommodative and inflation risk is up. Meanwhile, geopolitical risk has become a fixture of the global landscape. What does all this mean for our outlook at the midway point of 2018? Economics Likes 1 SHARE Bookmarks
July 03, 2018 Emerging-Market Debt: Expect Volatility—and Opportunity by Shamaila Khan, Christian DiClementi Summer is just beginning, but emerging-market (EM) bonds and currencies have been on a roller-coaster ride for months now. In markets, though, volatility breeds opportunity—and we still see plenty of that among EM issuers. Emerging Markets, Fixed Income, Volatility Likes 1 SHARE Bookmarks
June 26, 2018 Dangerous Yield Curves Ahead? by Erin Bigley There’s new rumblings about an inverting yield curve ahead. Is it time to panic? Time to stick our heads in the sand? Or time to think sensibly? Economics, Fixed Income Likes 1 SHARE Bookmarks
June 22, 2018 Four Reasons Why It’s Time to Get Real About Inflation by Vinod Chathlani, Brian Resnick, Karen Watkin With the global economy moving into its late-cycle stages, we think it’s a good time to bolster portfolio inflation protection by embracing several recently unloved investments—including natural resources and commodities. Asset Allocation, Inflation, Multi-Asset Likes 1 SHARE Bookmarks
June 22, 2018 Small-Cap Stocks: What’s Really Driving Returns? by James MacGregor US small-cap stocks have delivered strong returns in recent years. But value stocks have lagged the broader market. A closer look at what’s driving returns reveals some risks that deserve attention. Equities Likes 1 SHARE Bookmarks
June 22, 2018 How to Avoid the Private Equity Liquidity Trap by Avi Lavi, Tawhid Ali Private equity funds continue to attract interest, despite rising deal valuations and high levels of leverage. We think there’s a way to get many of the benefits of private equity in public markets—without forfeiting liquidity. Equities Likes 1 SHARE Bookmarks
June 15, 2018 Emerging Markets: Diminishing Risks vs. Headline Fears by Laurent Saltiel, Sergey Davalchenko, Naveen Jayasundaram Fears of new threats to emerging markets have cooled stock returns after two years of hot performance. But the concerns may be overstated. The long-term risk profile of emerging markets is continuing to improve. Emerging Markets, Equities, Rising Rates, Volatility Likes 1 SHARE Bookmarks
June 11, 2018 Three Ways to Keep Your Head Above Water as Rates Rise by Douglas J. Peebles Volatility in yields got you down? Fearful of more rising rates ahead? Worried your bond portfolio will sink into the red? We have strategies that will help keep you dry, even if the waves get high. Fixed Income, Rising Rates Likes 1 SHARE Bookmarks
June 06, 2018 Why It’s a Mistake to Cash Out of Bonds When Rates Rise by Douglas J. Peebles Bond investors are worried about rising rates in today’s environment. Many are protecting themselves by moving to cash or other very short investments. But is their “safe” choice putting them at risk? Fixed Income, Rising Rates Likes 2 SHARE Bookmarks
June 04, 2018 Can Emerging Markets Defy a Stronger Dollar? by Morgan Harting Turkey’s currency crisis has spooked emerging-market (EM) investors, especially amid growing concern about the strengthening US dollar. We think countries and companies in the developing world are actually much more resilient to a stronger dollar than in the past. Currency, Emerging Markets, Equities, Fixed Income, Volatility Likes 0 SHARE Bookmarks
May 29, 2018 Will China Export Volatility as Equity Markets Open? by John Lin China’s markets are opening to the world—but be aware of the potential for unintended consequences. As more money flows into domestic Chinese stocks from abroad, more money is also flowing out of China, which may trigger volatility in regional markets. Emerging Markets, Equities, Volatility Likes 0 SHARE Bookmarks
May 29, 2018 Wary of High Yield? Three Reasons Not to Be by Gershon Distenfeld, Will Smith High-yield investors bracing for a downturn in 2018 can relax. By some metrics, high-yield companies have rarely looked better. The way we see it, investors who do their homework can still profit in this environment. Fixed Income Likes 0 SHARE Bookmarks
May 23, 2018 Beyond the FAANGs: Technology Stocks and Downside Protection by Kent Hargis, Chris Marx, Sammy Suzuki Technology stocks are widely seen as powerful return drivers—with a lot of volatility attached. But surprisingly, shares of many companies that enable the technology revolution can provide solid returns and even downside protection. Equities, Volatility Likes 0 SHARE Bookmarks
May 22, 2018 US Economic Growth: A Sustainability Story? by Dan Roarty US stocks have boomed for nine years, supported by one of the longest economic expansions in the postwar period. Can this growth be sustained? Much depends on how the challenges of environmental and social sustainability are addressed. Equities, Responsible Investing/ESG Likes 0 SHARE Bookmarks
May 21, 2018 Income…but at What Cost? by Morgan Harting, Karen Watkin There are a lot of suggestions these days about where to get extra income, but less discussion about the cost attached to it. A diversified multi-asset approach can help—and provide additional growth potential. But how it’s designed matters. Multi-Asset Likes 1 SHARE Bookmarks