Outlook 2019: More Risk for Less Return?
Although we are more cautious heading into 2019 than we were 12 months ago, we still think a roughly neutral allocation to risk assets is the right approach.
Authored by: Aaron Costello
Rising from the Ashes: Key Developments Since the Global Financial Crisis
In this report, we briefly highlight five key post-GFC developments and discuss how investors might adapt their portfolios to these changes.
Will the Addition of Chinese A-Shares to MSCI’s Global Indexes Trigger an A-Share Rally?
No, MSCI index inclusion will not trigger a bull market in Chinese A-shares. Given the very modest initial weights and the lack of clarity on future increases, we doubt that index-driven flows will drive share prices meaningfully higher.
Currency Views and Valuations
This chart book presents commentary and analysis of historical currency momentum, valuation, and fundamentals in five key base currencies.
Australia Outlook 2018: Reaching a Tipping Point
Though the risk from rising rates is potentially higher in Australia than elsewhere given household debt levels and the state of the housing market, we judge the risks and outlook as balanced and advise investors to remain neutral on equities and risk.
New Zealand Outlook 2018: The Times They Are A-Changin’
The risks from rising rates are potentially higher in New Zealand than elsewhere given the overvaluation of equities and the housing market. We advise investors to underweight NZ equities, fixed income in general, and the NZ dollar.
Outlook 2018: Stick Around for Dessert
In our 2018 outlook, we review the prospects for several asset classes—developed and emerging markets equities, credit, real assets, sovereign bonds, and currencies—and share the advice of our chief investment strategist.
Should Institutional Investors Hold Cryptocurrencies?
In our opinion, institutional investors are better served focusing on investing in companies seeking to profit from the development and adoption of blockchain technology and “fintech” (financial technology) more broadly than holding cryptocurrencies directly.
Cryptocurrencies: Boom or Bubble?
Institutional investors should very carefully consider the risks of cryptocurrencies before investing.
China’s Onshore Bond Market: An Introduction
China has recently opened its domestic bond market to foreign investors. At first glance this is a huge opportunity for investors. However, as with many things in China, the story is more complicated than it appears.