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.
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.
EM should continue to provide a substantial economic growth alpha relative to developed markets due to better demographics and a productivity catch-up.