On Sunday, the Federal Reserve Bank announced a host of emergency measures intended to improve bond market liquidity and reduce borrowing costs, which come in response to rising signs of dislocation across Treasury, municipal, and corporate bond markets.
Yields on ten-year Treasuries dropped below 50 basis points (bps) today for the first time in history as COVID-19 fears spread. While we cannot rule out a recession, given the uncertainties associated with the virus and its impact on economic activity, we believe today’s low yields are less about long-term growth forecasts and more about expectations of further Federal Reserve easing, risk aversion, and liquidity preferences.
Global risk assets suffered significant drawdowns in February as concerns over COVID-19’s impact on global economic activity grew.
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.
The gradual abatement of geopolitical risks, and a renewed accommodative stance from global central banks, led to a strong rebound in risk sentiment in 2019. Equities led the way higher, while interest rate cuts ensured fixed income markets participated in what was a robust year for asset classes across the board. This chart book explores global asset returns and the factors influencing performance last year.
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.
Yes. Economic growth is slowing, and governments have limited monetary and fiscal policy responses available in the event this slowdown becomes a recession. Today, investors need to weigh the investment implications of likely policy options.
Third quarter 2019 proved to be the most challenging of the year for many hedge fund strategies. In this quarter’s edition, we discuss recent credit market developments and key sources that contributed to the challenging environment for credit-focused hedge fund strategies.
European credit investors have enjoyed significant gains in 2019 as the combination of weak economic data and central bank easing has pushed yields lower. Investors will need to be nimble to find attractive risk-adjusted returns in the months ahead.
Yes, maintaining a well-hedged pension plan is prudent risk management.