What Should Investors Expect in 2019?
Investors should expect more volatility in 2019, as many of the trends and political dynamics that have rattled confidence over the last few months seem unlikely to dissipate in the months ahead.
Authored by: Wade O'Brien
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.
Taking a CLOser Look at CLOs
Demand for collateralized loan obligations (CLOs) has soared in recent years, despite lingering suspicions about asset-backed securities due to their role in the global financial crisis. This paper provides an update on recent trends in the CLO market and discusses what we believe are some of the more attractive implementation options.
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.
Are the Credit Bears Getting Lost in the Woods?
Worries over the health of US credit markets have risen in recent months, with numerous reports highlighting the growing vulnerability of indebted companies (and thus investors) to rising rates and a potential turn in the economic cycle. This paper provides our updated thoughts across US credit markets, as well as some tactical tilts investors could employ to help navigate a few of these headwinds.
Amid Rising Risks, Should Investors Maintain Credit Allocations?
Yes, but investors should be selective in allocating to credit markets at this point in the cycle, and understand that the overvaluation of many credit assets could make attractive returns hard to come by.
Thoughts on the “Retail Apocalypse”
Retail is changing and some companies face challenges, but this theme has probably been overhyped, and implications for investors are limited.
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.
Eurozone Distress: In Case of Emergency Break Glass
Another outbreak of Eurozone distress is not our base case, but more risk-averse investors should understand their options.
Do Real Estate Lending Funds Deserve a Place in Investor Portfolios?
Commercial real estate lending funds represent an opportunity for investors worried about real estate valuations to move up the capital stack yet still earn an attractive return.