Global trade tensions may continue into 2020, weighing on global growth and acting as a headwind for further equity market gains.
This paper examines the U.S. commercial mortgage loan (CML) market and U.S. insurers’ investments in CMLs.
Daily comprehensive market and economic trends through clear and compelling charts.
The Armageddonists and the price of fame.
Armageddonists and the portfolio cost of fear, 2010-2019
Improving credit fundamentals, light tax-exempt supply and robust demand have driven the strong performance of municipal bonds in 2019.
For investors peering into 2020, it is likely that U.S. monetary policy will remain on hold for the time being.
We emerged with a cautious near-term view from our latest quarterly strategy meeting in early September. In our base case scenario, the global economy is expected to narrowly avoid recession and continue to grow, albeit much more slowly.
We may not be outright US dollar bulls, but fundamentals and quantitative valuation factors both suggest that investors are currently too negative on the currency.