Last week’s employment report showed the U.S. unemployment rate falling to 3.6%, a multi-decade low. With little room for the unemployment rate to fall lower, many economists are growing increasingly concerned with the availability of labor supply and, in
Are your private credit allocations positioned for uncertainty?
In today’s investment environment rates are lower, this inflates the value of future cash flows and pushes equity market multiples higher.
A greater percentage of negative yielding bonds has reignited the hunt for yield as investors look for higher yields in riskier asset classes.
EM currencies have struggled when the PMI has been falling, and thus its equity returns have underperformed versus the U.S. and other developed markets.
The U.S. Federal Reserve (the Fed) has called a halt to the balance sheet reduction program earlier, and at a higher terminal level, than investors first anticipated.
Equities continue to look attractive relative to fixed income, and could very well move higher in the short-term given firmer economic data and a Fed on hold.
Investors are concerned about the deterioration of corporate debt quality, marked by lower credit ratings and a large share of covenant-lite issuance in the loan market.
Our view over the past few quarters has been that EURUSD should be rangebound, as the cyclical outperformance of the US economy is offset by the eurozone’s relatively better balance of payments position.
Market downturn, bear market