Drawing on the depth and breadth of their market and economic expertise, our global macro strategists offer insight into today's big investment themes to enable more confident portfolio decisions.
You asked, we answer. On the Minds of Investors tackles the big questions we hear in our conversations with clients – it’s our latest thinking on the issues that matter to you.
This paper, written by Tai Hui and Zhu Chaoping, looks at recently released 4Q21 China economics data, inducing more monetary and fiscal stimulus, and the investment implications. (4-minute read)
This paper, written by Clara Cheong and Adrian Tong, looks at our deep-dive analysis into the forward-looking demand, supply chain issues, inflation and their investment implications. (4-minute read)
This paper, written by Clara Cheong, discusses the recent turn to hawkishness in developed market central bank policies and its investment implications.
This paper, written by Zhu Chaoping, discusses China's recent Central Economic Work Conference and its investment implications.
Discover why COP26 is important for investors. Explore the potential investment implications that could come with new climate objectives and commitments.
This paper, written by Tai Hui, discusses the recent developments in Japan market, and several fundamental reasons that investors should pay attention to the investment opportunities it could potentially bring.
This paper, written by Tai Hui, discusses the potential impact of the Omicron variant and the investment implications for investors.
This paper, written by Tai Hui, discusses the potential path of Fed monetary policy and the investment implications for investors.
From our vantage point, it seems like a given that the President will sign the bipartisan bill into law. Looking at the budget reconciliation package, a deal will get done but it may come down to the wire.
This paper, written by Chaoping Zhu and Kerry Craig, discusses the impact of the recent COVID-19 resurgence in China and other regions, and what it means for investors.
Despite a slowdown in 3Q21 economic growth, corporate profits have been better than expected. Investors should use profits as a guide, as rising interest rates could pressure multiples and leave earnings as the main driver of returns.
COP26 saw significant announcements in areas such as coal, methane and deforestation, yet progress fell short of the scale required to give us confidence that disruptive climate outcomes can be avoided. Physical climate risks warrant careful consideration for long-term investors.
This paper, written by Kerry Craig, Ian Hui and Gareth Lam, discusses whether or not the Federal Reserve and the Bank of England are hiking rates too slow or too fast, and what it means for investors.
This paper, written by Tai Hui and Zhu Chaoping, discusses the investment implications of the newly released 3Q21 GDP data of China.
Stagflation has become a hotly debated topic among investors as inflation expectations rise and growth expectations fall. This paper, written by Kerry Craig, discusses our views on the topic and what it means to investors.
This paper, written by Tai Hui, discusses the market impact of the elections in the third and fourth largest economy in the world, and what this means for investors.
Germans head to the polls later this month to elect a new government. With the race to replace Angela Merkel as Chancellor still uncertain, Global Market Strategist Tilmann Galler sets out the policy agenda of the main parties, considers the most likely coalition scenarios, and looks at how the election may impact the outlook for the German economy and markets.
This paper, written by Tai Hui, discusses the major challenges faced by China equity and fixed income market, and their investment implications.
This paper, written by Tai Hui, discusses the possible triggers for a U.S. market correction, and what this means for investors.
This paper, written by Kerry Craig, discusses the recently released U.S. payroll statistics and potential impact on the possibility and path of the U.S. QE tapering policy rollout.
This paper, written by Tai Hui, discusses the near-term possibility that Asian central banks could look to normalize their monetary policy, and what this means for investors.
This paper, written by Tai Hui, compares the 2014 tapering with what is happening with U.S. monetary policy now, and what this means for investors.
While it may be tempting to chase recent performance, we continue to anticipate that the second half will see interest rates move higher, repricing more in-line with the above-trend pace of economic activity that currently characterizes our forecasts. This should be supportive of cyclical assets broadly, and allow value to outperform growth.
This paper, written by Ian Hui, discusses the importance of income generation in the face of uncertainty and volatility.
Explore how the fiscal stimulus provided by the EU's pandemic recovery fund could lead to stronger economic growth and boost demand for European assets.
This paper, written by Tai Hui, discusses the economic policy insights provided by the recent Politburo meeting, and what this means for investors.
This paper, written by Chaoping Zhu, discusses the Chinese new reforms and the subsequent selling pressure in Chinese equities, and what this means for investors.
Will this year’s value rally continue, or are growth stocks set to regain the initiative? In our latest On the Minds of Investors article, Global Market Strategist Tilmann Galler examines the basic drivers of value outperformance, and looks at how value stocks may perform in three near-term economic scenarios based on our latest projections.
This paper, written by Tai Hui, discusses how the outlook for energy prices will shape the inflation outlook going forward, and what this means for investors.
This paper, written by Chaoping Zhu, breaks down China's 2Q 2021 GDP data, and what this means for investors and Chinese policies going forward.
This paper, written by Kerry Craig, discusses the confluence of both fundamental and technical factors that has led to a decline in government bond yields despite a still-robust outlook for growth, and what this means for investors.
This paper, written by Tai Hui, discusses what the future path of the USD could look like given a more hawkish stance from the Federal Reserve, and what this means for investors.
This paper, written by Tai Hui, discusses what investors should make of the strong recent inflation data, and what it means for their investments.
This paper, written by Kerry Craig, discusses what investors should expect after the recent slew of robust economic data, and what it means for investors.
Regardless of one’s personal view, digital assets and cryptocurrencies are becoming an increasingly large part of the global financial system. As such, more and more investors are asking how they should think about them as both investments and currencies.
Could carbon prices be about to rise? Global market strategist Vincent Juvyns looks at the increasing regulatory pressures on carbon pricing, and assesses the potential impact on markets
This paper, written by Chaoping Zhu and Marcella Chow, discusses the driving forces behind the recent Chinese yuan rally and what this means for investors.
This paper, written by Tai Hui, addresses the latest wave of COVID-19 outbreak in Asia and vaccination progress with its investment implications to Asian equities.
This paper, written by Ian Hui, highlights the outlook of 2021 U.S. earnings and its investment implications.
This paper, written by Tai Hui, discusses why Asian investors may want to look to European equities to provide return-generating potential and diversification benefits to their core equities allocation.
This paper, written by Kerry Craig, addresses the recent announcement of U.S. tax increase proposal and its investment implications.
This paper, written by Kerry Craig, discusses how investing in core real assets can help investors hedge the risk of inflation while still creating income.
This paper, written by Tai Hui and Chaoping Zhu, breaks down the 1Q 2021 Chinese GDP figures and discusses how this would impact China's fiscal and monetary policies, and subsequently, Chinese investments.
Over the last 12 months, the global pandemic has shaken our lives in many ways. While good health and social interactions are probably top of mind for most of us, the environment and climate are also among our key concerns.
This paper, written by Kerry Craig, discusses the inflation outlook in the U.S. and around the world in the coming months and years, and what this means for investors.
Rapidly rising incomes in vast populations are set to make Asia the largest contributor to global growth in the 2020s. For investors, the opportunity looks too big to ignore.
For better or for worse, banks are required to meet various liquidity and leverage requirements. One ratio that measures a bank’s ability to absorb losses is the Supplementary Leverage Ratio (SLR). The SLR formula measures tier 1 capital, which consists mostly of common and preferred stock, as a percent of total leverage exposure.
History provides only a limited guide to the implications of ESG factors for returns. We look at the conclusions that can be drawn from the past, and how investors can prepare for the future.
This paper, written by Marcella Chow, discusses the drivers behind the recent Chinese equities market correction, and how investors should prepare for what comes next.
This paper, written by Tai Hui, discusses the impacts of rising U.S. Treasury yields and stronger U.S. dollar on different emerging markets asset classes.
Explore the strategies that can help investors maintain income and diversification in a post-Covid world of low interest rates and negative government bond yields.
This paper, written by Ian Hui and Gareth Lam, discusses the factors driving the recent jump in commodity prices, and whether they are entering a supercycle.
This paper, written by Chaoping Zhu, provides our forecast of what will be discussed and announced in China's National People's Congress on March 5, as well as its implications for investors investing in China.
This paper, written by Tai Hui, discusses the recent rise in government bond yields on the back of market expectations of economic recovery in the U.S., upcoming fiscal stimulus and the prospects of high inflation, as well as its implications for different asset classes.
Joe Biden’s presidency is expected to bring increased momentum on tackling climate change. Carbon intensity is likely to become an increasingly important metric in investment decisions.
The challenge of low government bond yields means investors must rethink the 60:40 stock:bond allocation. Discover where they can turn for diversification.
This paper, written by David Lebovitz and Ian Hui, discusses our views on the U.S. 4Q20 earnings season so far and its investment implications.
This paper, written by Tai Hui, addresses the reason behind and our view regarding the latest market volatility and its investment implications.
A fresh flock of doves
This paper, written by Tai Hui, discusses the implications of newly-elected President Biden's policies, such as those regarding COVID-19 and China.
Successful vaccine rollout should drive an economic rebound as pent-up spending is unleashed. We assess the timings and market implications.
This paper, written by Chaoping Zhu, discusses the outlook on China following its recent economic data releases and fresh outbreak of COVID-19 infections.
This paper, written by Tai Hui, discusses the implications of rising Treasury yields on inflation, the U.S. dollar and overall economic recovery.
This paper, written by Tai Hui, discusses the key market risks heading into 2021.
This paper, written by Tai Hui, discusses the outlook on central bank policies to address inflation concerns heading into 2021.
This paper, written by Marcella Chow and Chaoping Zhu, discusses the outlook on capital markets following a rise in Chinese bond defaults.
This paper, written by Kerry Craig, discusses the ending of various Federal Reserve credit facilities in a time of lower fiscal support and weaker economic activity.
This paper, written by Ian Hui and Alex Cheung, analyzes the 3Q 2020 U.S. earnings results and the outlook for the COVID-19 pandemic.
This paper, written by Dr. David Kelly and Meera Pandit, provides the latest update on the U.S. presidential election and its investment implications.
This paper, written by Tai Hui, discusses the recent rebound in COVID-19 cases and their implications on global markets.
This paper, written by Chaoping Zhu, addresses the latest Chinese GDP data and recovering economy with its investment implications.
This paper, written by Tai Hui, discusses the outlook on the Chinese yuan following its recent strong performance.
This paper, written by Alex Cheung and Ian Hui, discusses the outlook on the Chinese fixed income market following FTSE Russell's decision to include China in its World Government Bond Index.
This paper, written by Tai, Hui and Chaoping Zhu, discusses the outlook on China following recent economic data releases.
This paper, written by Tai, Hui, discusses the positive outlook on global equities despite high valuations.
This paper, written by Kerry Craig, discusses the longer-term outlook for equities following the recent sell-off of tech and growth stocks.
This paper, written by Tai Hui, discusses the recent statement by the Federal Reserve and its implications on global markets.
This paper, written by Tai Hui, analyzes the recent discussion between the U.S. and China regarding the Phase One trade agreement.
This paper, written by Tai Hui, analyzes the S&P 500 earnings reports and forecasts and their implications on the recovery from the effects of COVID-19.
This paper, written by Tai Hui, examines the recent decline of the U.S. dollar and its implications on global markets.
A number of countries have seen a pick-up in new infections in recent weeks. Instead of derailing the global economy and forcing another dip in economic activities, the latest outbreaks are more likely to dampen and delay the global economy making a full recovery.
July 21, 2020
July 14, 2020
Due to COVID-19 and the discussions around social issues and climate change, Sustainable Investing (SI) is more relevant today than ever before.
July 8, 2020
At the end of last week, it looked like the equity market pullback that everyone had been expecting was finally beginning to materialize.
June 16, 2020
June 10, 2020
The balance sheet of the U.S. Federal Reserve (Fed) has increased by 2.9 trillion USD since the start of March, meaning that in just over eleven weeks it has grown more than it did in the five years following the Financial Crisis.
June 2, 2020
covid 19 affect sustainable bonds
While dividends in some regions are likely to face pressure in the coming months, now is not the time to give up on equities as a key source of income for multi-asset portfolios.
May 28, 2020
May 19, 2020
The COVID-19 crisis is causing short-term ESG repercussion and longer-term shifts. Find out why sustainability has never been more important for investors.
May 12, 2020
May 5, 2020
April 28, 2020
April 21, 2020
April 16, 2020
April 7, 2020
March 31, 2020
March 24, 2020
March 16, 2020
March 9, 2020
March 4, 2020
March 4, 2020
February 28, 2020
February 25, 2020
February 19, 2020
February 11, 2020
February 5, 2020
On the Minds of Investors - January 29, 2020
January 23, 2020
January 16, 2020
December 19, 2019
December 12, 2019
December 5, 2019
November 28, 2019
November 21, 2019
November 14, 2019
November 7, 2019
October 30, 2019
October 24, 2019
October 15, 2019
What does the Global Industry Classification Standard (GICS) sector reclassification mean for equities?
What does the Global Industry Classification Standard (GICS) sector reclassification mean for equities?
What does the Global Industry Classification Standard (GICS) sector reclassification mean for equities?
What does the Global Industry Classification Standard (GICS) sector reclassification mean for equities?
Top questions on the minds of investors - See what your peers are asking and read answers from our team of Global Market Strategists.
Top questions on the minds of investors - See what your peers are asking and read answers from our team of Global Market Strategists.
Top questions on the minds of investors - See what your peers are asking and read answers from our team of Global Market Strategists.
Top questions on the minds of investors - See what your peers are asking and read answers from our team of Global Market Strategists.
Top questions on the minds of investors - See what your peers are asking and read answers from our team of Global Market Strategists.
Top questions on the minds of investors - See what your peers are asking and read answers from our team of Global Market Strategists.
Top questions on the minds of investors - See what your peers are asking and read answers from our team of Global Market Strategists.
Top questions on the minds of investors - See what your peers are asking and read answers from our team of Global Market Strategists.
Top questions on the minds of investors - See what your peers are asking and read answers from our team of Global Market Strategists.
Top questions on the minds of investors - See what your peers are asking and read answers from our team of Global Market Strategists.
Top questions on the minds of investors - See what your peers are asking and read answers from our team of Global Market Strategists.
Top questions on the minds of investors - See what your peers are asking and read answers from our team of Global Market Strategists.
Top questions on the minds of investors - See what your peers are asking and read answers from our team of Global Market Strategists.
Top questions on the minds of investors. See what your peers are asking and read answers from our team of Global Market Strategists.
Top questions on the minds of investors. See what your peers are asking and read answers from our team of Global Market Strategists.
Top questions on the minds of investors. See what your peers are asking and read answers from our team of Global Market Strategists.
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