The food fight between the President and the Fed Chair could result in too much easing, and the expansion of valuations beyond sustainable levels. The other food fight: leveraged loan issuers vs buyers. Issuers are winning this fight hands down due.
Michael went on a search for Democratic Socialism in the real world, and ended up halfway around the globe from where he began.
A summary of the factors driving global markets over the last month.
Michael discusses US-China trade war in context, the outlook for prescription drug price legislation, and an updated ideological scorecard for 2020 Presidential candidates.
Brexit uncertainty is not over. But that wasn’t the only thing holding back UK stocks, and investors could be tempted back to the market.
Caught our eye: UK pension buy and maintain strategies could bring demand pressure to sterling corporate bonds
In an already tightly held market for sterling corporate bonds, even modest moves by UK pension funds to adopt buy and maintain strategies could create stiff competition for these assets.
The S&P 500 could hit 10,000 by the mid-2030s
Despite the Swiss National Bank (SNB) continued to characterise the Swiss franc as highly valued, we suggest that any overvaluation may be illusory.
Using our 2019 Long-Term Capital Markets Assumptions and our estimate of the average current pension profile, we projected forward the buyout position of the average UK pension scheme.