Causes and Implications of the Russian Oil Supply Shock
The outlook for oil remains highly uncertain and is dependent on various political decisions.
Real Assets
How Should Investors Alter Portfolios Considering the War in Ukraine?
Thoughtfully, if at all. At this stage most investors should examine portfolio risks related to the war and monitor market developments.
Market Matters: February 28, 2022
Russia’s invasion of Ukraine sent shockwaves across the world, creating a tragic humanitarian and geopolitical crisis, and introducing new uncertainty to the global economy and financial markets. Investors also continue to grapple with ongoing inflationary risks, central bank policy changes, and COVID-19 developments.
Will Concerns Over “Greenflation” Derail the Energy Transition?
No. The inflation attributed to green initiatives (known as “greenflation”) is part of the current inflation narrative, but we doubt concerns related to it will derail the global energy transition.
VantagePoint: Jumpstarting the Energy Transition
This year may prove to be pivotal in the transition from fossil fuels to renewables. Policy makers, businesses, and investors are accelerating commitments to bring greenhouse gas emissions to net zero by 2050, while technological advances and economics in sectors, like renewable energy and EVs, are reaching more competitive functionality and cost. Even as the energy transition gains speed, we are still in the very early days and anticipate a long and disruptive transition.
US Manager Universe Statistics: Fourth 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.
Market Matters: January 31, 2022
Most global assets experienced broad-based declines in January. Global equities suffered their worst month since March 2020; emerging markets held up better than developed counterparts but remain a significant laggard over the trailing 12-month period. Value and large caps outperformed growth and small-cap equivalents, respectively. Fixed income assets declined as nominal interest rates rose and…
Review of Market Performance: Calendar Year 2021
The global economy continued its road to recovery in 2021, as the most severe economic impacts of the COVID-19 pandemic gradually receded. There were fresh waves of infection during the year, but the public health actions taken to counter them were less economically damaging. In the meantime, fiscal and monetary policy remained at extremely accommodative levels, supporting strong risk-asset performance.
Market Matters: December 31, 2021
Risk assets surged in fourth quarter, capping off a year of impressive gains.
Outlook 2022: Flying at a Lower Altitude
A compilation of our investment views for 2022.