Earnings growth may shake out in the low single digits when all is said and done, but at the current juncture, the risks feel tilted to the downside.
We cut the chances of recession to 25% after a thaw in the trade war and a year of rate cuts; our forecast is for sub trend growth. Favored sectors include emerging market local currency debt and higher rated short-duration securitized credit.
Investors may want to consider reducing exposure to European financial markets during this period of heightened political, economic and policy uncertainty.
Following this shake-up, the odds of a no-deal Brexit, not so long ago a strong possibility from the hardline Conservative administration, have declined.
Renewable energy and battery storage: Impacts of disruption on the core infrastructure investor
The food fight between the President and the Fed Chair could result in too much easing, and the expansion of valuations beyond sustainable levels. The other food fight: leveraged loan issuers vs buyers. Issuers are winning this fight hands down due.
Investors were disappointedInvestors were disappointed that trade tensions re-escalated and the Fed viewed their actions as a “mid-cycle adjustment".
Written by ERISA Strategist Dan Notto, this bulletin discusses insights from our 2019 DC Plan Sponsor Survey
Our Global Emerging Markets portfolio managers demonstrate why long-term investors are in a strong position to take advantage of compound earnings growth.