Markets & Economy

Our comprehensive collection of investment insights

Evaluating Active Managers: The Benefits of Being Different

May 27, 2015 | Active Management

Gaining a better understanding of active management in today’s evolving and sometimes volatile investment environment begins with a simple point: Not all active managers are alike. Since the market downturn of 2008, there has been a reappearance in industry dialogue of the claim that ‘active …

U.S. Consumer Debt: Headwinds to Achieving a Step-Up in Growth

April 24, 2015 | Market Commentary

Since exiting the 2009 recession, the U.S. economy has been humming along at a rather slow pace, averaging 2.2% real annual GDP growth over the last five years. During this time, economic data has generally trended higher, labor markets have gradually healed, and the U.S. consumer has …

What to Expect from European Quantitative Easing

March 24, 2015 | International Markets

A European quantitative easing (QE) program has finally become reality. The European Central Bank (ECB) made its first sovereign bond purchases as part of the plan in early March. While U.S.-based investors are probably very familiar with the concept of QE and its big picture objectives (given …

Water Scarcity: The Global Need to Move it and Improve it

March 09, 2015 | Investment Themes

Water is arguably the most important natural resource on earth. Covering greater than 70% of the planet’s surface, its apparent abundance is deceiving. Fresh water is critical to humanity and represents only a fraction of the total water supply. An even smaller proportion of that is accessible …

Three Big Market Moves Drive Volatility Higher

February 27, 2015 | Market Commentary

Three big moves in major financial markets during recent quarters should give investors reason to anticipate heightened volatility going forward, namely significant increases in the value of the U.S. dollar and Swiss franc, as well as a major selloff in crude oil. The dollar, franc, and oil are …

REITs Bounce Back on the Cusp of Interest Rate Changes

February 18, 2015 | Market Commentary

Real estate investments bounced back last year from a lackluster 2013 to have their best performance in nearly a decade. Real Estate Investment Trusts (REITs)—companies that own and normally manage income-producing real estate or real estate-related assets—gained 30.4% in 2014 compared to the S&P …

CAPE Revisited: U.S. vs. International Markets

February 09, 2015 | Market Commentary

In July we wrote about stock market valuations and their usefulness in forecasting future market performance. Specifically, we discussed a valuation metric called the cyclically-adjusted price-to-earnings ratio (CAPE, or P/E 10 Ratio), an increasingly popular metric that has pointed to U.S. …

High-Yield Approach Amid the Oil-Driven Selloff

January 20, 2015 | Fixed Income

The downward move in oil prices has had far-reaching implications for the global economy. One area of impact is the high-yield debt market, where energy issues currently account for approximately 13%. As oil prices continued to fall, pressure that initially impacted energy issuers became more …

Greece: Would a Grexit Actually Happen?

January 12, 2015 | International Markets

Greece continues to be a thorn in the side of its European brethren entering 2015. With the Greek parliament failing to elect a new president on December 29 in a third round of voting, the country will hold a snap general election on January 25. Syriza – a leftist party that denounces the …


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