Market volatility has come back with a vengeance. However, higher market volatility is normal in the later stages of an economic cycle.
1Q18 earnings update: A tailwind from taxes
In the third quarter, emerging market (EM) earnings and earnings expectations cycles finally began to turn. Reported profits and margins rebounded off their cyclical lows and earnings estimates moved out of negative territory, diminishing a headwind that
What to expect in the next 15 years.
Trade was the hot topic of 2018, with the U.S. administration engaging in negotiations with many major trading partners.
Michael Cembalest analyzes the performance of over 6,700 domestic and international active equity managers, and discusses the challenges they face outperforming at a time of markets distorted by quantitative easing.
A brief note on the latest price action in equity markets, how business cycles end, and how markets are being left to fend for themselves without central bank intervention for the first time in 20 years.
Assessing the impact and possible evolution of Fed policy
The Realization: A new world. A new normal. A tectonic shift. The transition of global real assets into mainstream portfolio allocation.
Executive Summary. Prolonged period of delevraging could mean low interest rates; subdued growth.