Market Matters: November 30, 2021
Risk assets sold off in November as pandemic-related developments introduced new uncertainties to the economic outlook.
Credit/Fixed Income
The Investment Portfolio’s Swiss Army Knife: Adding Private Credit to Portfolios for US Investors
We view private credit as an underused and effective tool that can help a broad array of investors meet their objectives.
Market Matters: October 31, 2021
Global equities delivered their highest monthly gains this year in October, driven by US equities.
US Manager Universe Statistics: Third Quarter 2021
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.
Has the Approaching Debt Default by Chinese Property Developer Evergrande Created Opportunities for Investors?
Yes. In recent weeks, several Chinese property developers have defaulted, and spreads on Chinese high-yield bonds have widened roughly 600 basis points (bps), taking their year-to-date loss to 18%.
VantagePoint: China – Reassessing Risks and Opportunities
As the second largest economy in the world, China remains an important destination for global investor capital. Yet, the pace and scope of China’s regulatory crackdown are causing concern. In this edition of VantagePoint, we review the nature of regulatory developments and their impact on the investment opportunity set. We believe that dedicated, strategic allocations to Chinese assets are still warranted. Investors should carefully consider their sector exposure and evaluate managers’ capabilities in the current regulatory and geopolitical environment.
Market Matters: September 2021
Capital markets performance was mixed in third quarter, with muted gains or losses across many asset classes.
Market Matters: August 2021
Risk-on sentiment returned in August as the global economic recovery continued, albeit at a slowing pace.
Review of Market Performance: Fiscal Year 2021
Fiscal year 2021 saw a continuation of the strong rebound in risk assets, which had commenced in second quarter 2020. This was facilitated initially by positive news from COVID-19 vaccine trials, and then ultimately by their gradual rollout, which established a path back toward economic normality. Meanwhile, both fiscal and monetary policy remained at extremely accommodative settings.
Market Matters: July 2021
Defensive and interest rate–sensitive assets generally outperformed in July as cracks in the global economic recovery emerged, driven in part by increasing Delta variant case counts.