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Weekly Market Recap

A one-page snapshot of market performance, statistics and trends.

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Multi-Asset Solutions Weekly Strategy Report

The bond market sell-off has been broad-based – across regions and across the curve. Just as the strength in growth has been synchronized, so too has the rise in global bond yields.
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Weekly Bond Bulletin: A local surprise

By GFICC Investors
Emerging market (EM) local bond yields have defied historical relationships by resisting much of the recent risk-off move. Can this de-correlation with risk markets persist, or are EM local bonds due for a correction?
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Global Equity Views 1Q 2018

By Paul Quinsee
As volatility returns to equity markets, we see further gains in this cycle amid strong global growth and robust profits. From a regional perspective, we find the best prospects in emerging markets; on a sector basis we like financials and cyclicals.
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Emerging market debt strategy : Still going strong but beware headwinds

By Pierre-Yves Bareau
Emerging market (EM) fundamentals are on a very strong trajectory: the global synchronised recovery and easy monetary conditions are expected to continue, supporting further strengthening in EM economies and companies.
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Factor Views 1Q 2018

By Yazann Romahi
While risk assets again posted strong gains, performance was mixed across factors. Looking ahead we see potential for positive catalysts across equity, event-driven and macro factors.
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Global Fixed Income Views 1Q 2018

By Bob Michele

Expecting strong growth and contained inflation over the near term, we see a gradual path to central bank normalization. If inflation picks up, our outlook could change. Among our best ideas: European bank capital, U.S. high yield, securitized credit.

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Global Asset Allocation Views 1Q 2018

By John Bilton

Amid strong growth and modest inflation, it’s a good environment for taking risk. But it is late cycle-no time for complacency. We take U.S. high yield down to neutral, keep a broad regional diversification in equities and a small underweight to duration.

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The investment outlook for 2018

By Dr. David Kelly, Samantha Azzarello, David Lebovitz
Heading into 2018, it is important to remember some time-tested principles for successful long-term investing: cash isn’t always king, diversification is essential, harness the power of compounding and don’t let volatility derail you.
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Goldilocks and the three risks

By George Iwanicki
Emerging markets are in the early phase of their recovery cycle. When comparing cycle-adjusted P/E multiples, emerging market equity ranks as the cheapest segment of the global equity market.
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3Q 2017 Guide to the Markets and Quarterly Perspectives

Introducing our third quarter 2017 Guide to the Markets and Quarterly Perspectives. A comprehensive array of market and economic trends illustrated with clear and compelling charts.
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What if May falls in June?

By Michael Bell
The market is currently assuming that the Conservatives will win a large majority and eventually deliver a relatively hard Brexit, but that the election will make it easier for them to agree to a transitional arrangement, prolonging single market access for two or three more years after March 2019.
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Investing in Emerging Markets: Why EM and which EM?

By Gabriela Santos
Gabriela Santos discusses the improving Emerging Market conditions and how investors should consider whether they have appropriate exposure to this EM rebound.
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Asian exports: Building momentum

By Tai Hui
Tai Hui, Chief Market Strategist Asia, examines the recent upturn in Asian exports and considers what this recovery implies for corporate profits and investing in Asian equities.
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Macron conquers, but France remains deeply divided

By Vincent Juvyns, Stephanie Flanders
Vincent Juvyns, Global Market Strategist, gives us the latest update on the French Presidential Elections and impact this has on investors.
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Emerging Market Debt: Reflation takes root

By Pierre-Yves Bareau
Given the risks posed by protectionism, we are more cautious on open economies and those more dependent on external funding. Overall, we have shifted our focus from market beta to carry this quarter, coming off of solid first quarter performance, tighter valuations and the little market premium attached to the risks we have identified. We place an emphasis on short-end names and those idiosyncratic stories that we identify as having positive event skew.
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Inflation's next phase

By Benjamin Mandel, Michael Hood
For investors, the recovery of inflation and inflation risk premia, against the backdrop of anchored inflation expectations, imply a supportive environment for risk assets. Our outlook suggests continued upward pressure on the market pricing of inflation, manifesting in higher bond yields and a widening spread between nominal and inflation-protected bonds.
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A better opportunity in Europe

By Dr. David Kelly
While U.S. equities still look less expensive than Treasuries and cash, they are not as attractive as they once were. Investors looking for stronger long-term returns may find a better opportunity in European stocks.
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Entering the reflation era

By Pierre-Yves Bareau
We are entering a new investment paradigm: the era of "lower for longer" and "search for yield" has now been replaced by an era shaped by higher growth, inflation and rates.
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