2011 estimates and the thinking behind the numbers. Executive summary
Markets, economy, stocks, growth, global, fixed income, international, asset classes
What investors should consider
Bond yields remain at or near historic lows around the world, leading to a substantial increase in the value of pension plan liabilities.
While tariffs remain a concern, the key issue is the degree—which we deem moderate—of U.S. recession risk. The current global backdrop makes the U.S. dollar unlikely to strengthen. Earnings growth expectations are modest, valuations are undemanding
Explores how institutional investors should reconfigure portfolio allocations/strategies in a world of low returns.
Executive summary of JPM's long-term capital market return assumptions
Michael Cembalest analyzes the performance of over 6,700 domestic and international active equity managers, and discusses the challenges they face outperforming at a time of markets distorted by quantitative easing.