US Tariffs Increase Market Risks
Yesterday (April 2), US President Donald Trump announced sweeping new tariffs targeting nearly all US trading partners.
Equities
Market Matters: March 31, 2025
Global equities declined, driven by a large sell-off in US stocks as investors digested the potential negative impact from new US import tariffs.
Will German-led Fiscal Reforms be Transformative for Europe?
Yes, in response to weak growth and a changing defence landscape, taking off the fiscal straitjacket should catalyse a more growth-supportive economic environment within Europe.
Should Investors Underweight Equities in Light of Recent Market Volatility?
No, investors should hold equity allocations in line with their policy portfolio weights.
Are Indian Equities an Attractive Overweight After the Recent Sell-Off?
No, we do not think so. India’s economic growth is set to continue moderating, which may lead to further downgrades to stretched earnings growth expectations.
Market Matters: February 28, 2025
Global bonds rallied, outpacing equity markets as concerns mounted that a change in global trade dynamics would weigh on economic growth.
US Manager Universe Statistics: Fourth Quarter 2024
This publication presents manager performance for 37 asset classes and substrategies, showing the median, mean, and key percentiles of return. Relevant indexes for each asset class are also included to provide market context.
Are US Equities Set to Repeat the Dot-Com Bust of the Early 2000s?
No, we don’t think so. The quality of companies today is higher and speculative excesses are less extreme. However, risks are elevated in mega-cap tech stocks, though less pronounced than in the dot-com days, and we recommend modest tilts to developed markets small-cap and value equities to help balance portfolios.
The Pension (Re)volution: How the Hybrid Approach is Reshaping Retirement Plans
Although no single strategy can address all challenges related to saving for retirement, adopting a hybrid approach represents a significant initial step toward improving retirement savings outcomes—for employers and employees alike.
Should Investors Underweight Euro Area Equities Given Trade Wars, Elections, and the Weak Growth Outlook?
No. All three factors have weighed on euro area equity and currency markets to some extent in recent months, but we recommend continuing to hold euro area equities at benchmark weights.