Are California Carbon Allowances an Attractive Investment?
Yes, California Carbon Allowances are an attractive investment opportunity, though they come with political tail risk.
Real Assets
Last Week at a Glance
Global equities were little changed last week as investors weighed the initial terms of a new US-UK trade deal and cautious signals from central banks.
Market Matters: April 30, 2025
Global financial market volatility surged in April as investors priced in the potential impacts of so-called reciprocal tariffs revealed by the United States, which significantly raised import levies on virtually all trading partners.
Asia Insights: Managing Risk Through Diversification
Asian and global market volatility surged in early 2025 as US tariffs triggered global growth fears. Given the export-oriented nature of most Asian economies and their sensitivity to global growth and demand, the region may bear the brunt of US tariffs. As such, Asia market volatility is likely to persist in the near term, particularly since US trade policy can shift abruptly.
Is Gold’s Rally Sustainable?
No, we don’t think so. For most investors, this is more likely a time to take profits on gold rather than initiate new allocations.
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.
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.
Review of Market Performance: Calendar Year 2024
Most risk assets enjoyed strong returns in the calendar year (CY) ended December 31, 2024. US equities led on better-than-expected economic data and AI-related growth.
Market Matters: January 31, 2025
Global equities advanced in January as cooling inflation and US tariff delays catalyzed a risk rally in the second half of the month.