Last Week at a Glance
Global equities and fixed income declined last week as robust US economic data and a hawkish Fed led to a rise in bond yields.
Credit/Fixed Income
Private Infrastructure: Secular Themes Offer Compelling Opportunities
This note provides an update on the current opportunity set in infrastructure investments and highlights some of our preferred areas in the private space, including energy transition and digital infrastructure.
Should Investors Alter Portfolios After US President Trump’s Re-election?
No, not at this time. While the Trump administration’s policies will impact markets, we expect other factors will be larger drivers of long-term investment performance.
Market Matters: October 31, 2024
Global equities and fixed income declined in October as rising bond yields weighed on performance across a broad swath of asset classes.
Market Matters: September 30, 2024
Global equities advanced in Q3. Monetary easing by several major central banks and a weaker economic outlook led to a rotation favoring value over growth strategies.
Asia Insights: Seeking Stable Returns
With the global economy showing signs of cooling and Chinese economic momentum remaining weak, the outlook for Asian markets is increasingly mixed.
The Fed Cuts Aggressively, but Remains Cautious About Future Cuts
The Federal Reserve has reduced the target range for the federal funds rate by 50 basis points (bps) to 4.75%–5.00%, the first reduction in over four years.
US Election Anxiety: Keeping Calm Amid Political Uncertainty
Markets have been jittery as the US presidential election approaches. The macro backdrop is shifting, with slowing economic growth and ebbing inflation meaning a cycle of monetary easing beckons. At the same time, elevated valuations for a variety of assets are causing investors to reconsider narratives around themes, such as AI investment, and consider asset allocation tweaks. Investors should resist positioning portfolios for any one political outcome and remember that increased market volatility around elections is common. In the following report, we discuss our views on five common election-related narratives in the marketplace today.
VantagePoint: As the Narratives Turn
In this edition of VantagePoint, we find that consumers, corporations, and the banking sector remain in good shape, and while US/global economic growth is likely to slow in the second half of 2024 relative to the first, we expect it will remain positive. Although market concentration risk is elevated, given its focus on highly profitable AI-related tech stocks, we would seek to be measured about diversifying such risks.
Market Matters: August 31, 2024
Fixed income outperformed equities, driven by declining yields as markets became more convinced that major central banks would continue to ease monetary policies.