Explore research-driven analysis of evolving market themes
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- Andrew N. O'Brien, CFA, Assistant Director of Equity Research, and Di Yao, Portfolio Manager, Analyst
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- Shep Perkins, CFA, Co-Head of Equities, and Elizabeth Rogers, Analyst
Risks have eased, but so has growth
We favor reducing risk as we look for proof that earnings can support asset valuations.
Is the path paved to 5,000 on the S&P?
What's in store for equities? We consider a number of factors that could drive stocks higher.
Bond yields in early 2020 likely to stay range bound
Bond yields will likely stay range bound in early 2020 as the economy shifts to a lower gear and central banks shift to neutral.
Reading signs of stabilization
The global economy is likely to stabilize at around the current growth rate.
A mixed economic outlook
Global growth will remain sluggish this year as protectionist tariffs continue to rattle manufacturers, businesses, and financial markets.
Bond rally reflects economic uncertainty
Global growth has cooled in 2019 as trade conflicts have taken a toll on international manufacturing, investments, and financial markets.
Will the improving housing market further divide the Fed?
The Fed remains divided on the trajectory of interest rates; a pick up in U.S. housing activity may increase this division.
Trump, Johnson cloud outlook
Global growth continues to cool under the weight of the ongoing trade dispute between the United States and China.
Talking sustainability with CEOs
We have ongoing dialogue with the management teams of companies in which we invest, across a wide range of sustainability-related topics.
An inverted yield curve: Recession or stagnation?
The Treasury yield curve briefly inverted in August, rattling markets with the possibility of a recession.
Central banks keep economy afloat
Global growth is cooling as the trade war continues to erode business investment, manufacturing activity, and investor confidence.
July rate cut: “Insurance” policy or recession guard?
The Fed cut interest rates to protect growth from downside risks and described the move as a mid-cycle adjustment to policy, or a so-called “insurance” cut.
The Fed's growth conundrum
The global economy has weakened a little and asset markets have tumbled because of the United States' trade disputes with China and other nations.
Trade war fallout can hurt risky assets
The simmering trade war between the United States and China is expected to continue, and could put the economy at risk.
Implications of the Huawei export ban
With Huawei blocked by the U.S. Commerce Department from buying U.S. technology, we discuss ramifications on the technology sector and how the ban may end.
Trade tensions could reduce global GDP
There is a significant likelihood that U.S.-China trade tensions will remain high. Effects on global GDP effects are uncertain, but could exceed 1%.
Securitized debt: Building blocks of a diversified portfolio
Securitized debt may be used to create a diversified portfolio through various risk exposures
What November means for 2019
The events of November provide a fresh view of two key risks facing the economy in 2019 — a hawkish Fed and an escalation of the trade war.
How company diversity can help performance
The potential to improve work performance is perhaps the most intriguing and least understood argument for diversity — and worth examining in more depth.
October stock market volatility may signal a shift
Recent stock market volatility reflects a process of pricing in the fact that the global growth outlook has diverged.
Italy may be conduit for EM contagion
If Italy's populist government increases government debt, prices of Italian bonds and banks could drop and trigger a larger crisis for the region and world.
Buybacks and M&A may fuel equities, but trade conflict is a key risk
Several trends could boost equity returns, but trade negotiations create market risk.
Back in black: Higher oil prices to persist
Fueling higher oil prices this year — and counter to market expectations — is a drop in oil inventories ...
The unrecognized diversification profile of securitized debt
Securitized debt may be less familiar to many institutions, but it offers the diversification and potential performance profile that many of them seek.
Sustainable investing: Assessing the choices
Sustainable investing is growing in popularity, and investors should be thoughtful about choosing from a range of strategies and portfolios.
Potential benefits of prepayment risk
Investors seeking strategies to diversify away from corporate credit and interest-rate sensitive sectors may consider prepayment risk.
Are non-U.S. stocks truly cheap?
On the surface, U.S. stocks appear more expensive than non-U.S. stocks, but a quantitative comparison reveals the impact of sector valuations.
The views and opinions expressed are those of the speaker, are subject to change with market conditions, and are not meant as investment advice.