SHARE THIS Cross-asset pricing has recently been challenging our reflationary outlook. When we first discussed the prospects for reflation about a year ago, we identified a number of key factors.
SHARE THIS Volatility has arisen as we expected it eventually would, and September is often an apt month to rediscover risk given market participants’ return from summer vacations noting that record high equity markets do not quite square with a number...
SHARE THIS Japan’s rapidly advancing medical technology is viewed as a way to address the healthcare sector’s inefficiencies while at the same time offering potential value opportunities.
SHARE THIS Asian stocks rose in October, with investors remaining focused on rising inflationary pressures and the US Federal Reserve’s tapering plans. The markets’ key concern is China’s economic performance and its impact on the energy and commodity...
SHARE THIS It would not be surprising if the major swings in the markets and macroeconomic conditions, including historic central bank shifts, have made most investors somewhat seasick. Recently on a day-to-day basis, markets seem to react quite...
SHARE THIS Change is both more prevalent and significant in Asian markets. We believe that seeking to understand it is essential to deliver sustainable returns.
SHARE THIS The East and West appear to be headed in different directions. The East may benefit from China’s easing and supportive growth characteristics. Meanwhile, the West is mired in slowing growth, excessive levels of inflation and central banks...
SHARE THIS The low for this bear market could be a lot closer at hand now than it was, with equity valuations having fallen considerably. We remain focused upon assessing our companies’ ability to deliver earnings expectations and cash generation....
SHARE THIS No single catch-phrase epitomises the 2023 global macro outlook, but here are ten predictions for the year ahead.
SHARE THIS On balance, we are constructive mainly for valuation support and growth prospects improving for China with a firm tailwind from an easing dollar. Pockets of the US equity market may struggle on weaker earnings, but the rest of the world...
SHARE THIS We believe that the rewards will outweigh the risks related to China amid an existence of enough cyclical, thematic and structural trends that could enable the country to outperform in 2023; particular focus will be on the government’s...
SHARE THIS Most Asian countries are expected to grow at a slower pace in 2023 than they did in 2022, and fiscal stimulus will no longer be a dominant factor driving growth in the region. We expect monetary policy outlook to persist as the primary...
SHARE THIS The official GDP growth target of “around 5%” unveiled at China’s annual National People’s Congress was lower than many external forecasts, and fiscal policy looks less accommodative relative to both market expectations and that of 2022. In...
SHARE THIS Investors have been dealing with elevated volatility in asset prices since the pandemic began. A contributing factor that continues to muddy the waters has been the volatility in economic data due to COVID-led distortions. In more recent...
SHARE THIS Financials, healthcare and energy buck the trend and rise in a down market.
SHARE THIS As the green bond market diversifies, sustainability-linked bonds (SLBs), which are linked to an issuer’s broader sustainability performance, have garnered significant investor attention and scrutiny. We believe structural improvements will...
SHARE THIS We expect 2024 to be a year of domestic consolidation and long-term reform measures, where markets are driven more by Japan-specific events than by global factors. After decades of deflation, we see Japan as finally breaking out of this...
SHARE THIS The Indian market remains attractive. It has the highest earnings growth in the Asian region, valuations that are in the middle of its historic range and an economy that is growing strongly with inflation under control.
SHARE THIS The stage is now set for a Biden versus Trump rematch in November. So, what does this mean for sustainable bonds?
SHARE THIS In the 2024 Indian parliamentary elections, Prime Minister Narendra Modi's BJP won fewer seats than expected. However, with support from pre-alliance partners, Prime Minister Modi will lead a coalition government for a third term, indicating...
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