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Perspective on what’s trending in the markets and how it impacts investors
The Market Rides the Volatility Wave — What to Know About China
January 20, 2016 | Market Commentary
U.S. equity markets got off to a rough start in 2016. During the first week of the year, major domestic indices were down around 6%, with the S&P 500 registering its worst five-day performance to open a year in history. Volatility continued last week. As with the market downturn last summer, …
Inflation is Not Dead: What to Expect in 2016
January 11, 2016 | Fixed Income
Years of disinflation coupled with very low market expectations for future inflation have lulled many investors into a false sense of security that inflation can’t happen in the U.S. Indeed, deflationary forces have recently been keeping a lid on inflation, including: A strong USD, which …
The Fed Concludes its Countdown to Liftoff
December 17, 2015 | Fixed Income
Following its two-day December meeting, the U.S. Federal Reserve’s policy setting Federal Open Market Committee (FOMC) decided to adjust the federal funds policy interest rate for the first time since December 2008. The rate will increase from a range of 0% to 0.25% to a range of 0.25% to 0.5%. …
A Long-Awaited Turning Point for Argentina?
December 10, 2015 | Emerging Markets
Argentina went to the polls on November 22 and elected Buenos Aires Mayor Mauricio Macri as its next president. Macri’s win over ruling-party candidate Daniel Scioli was seen as a rejection of the interventionist economic policies pursued by President Cristina Fernández de Kirchner (and her …
Selectivity: The New Way Forward for Investors
November 19, 2015 | Investment Themes
Shifting tides in the global economic backdrop during 2015 led us to make broad changes to our equity sector allocations throughout the year. We believe these changes position investor portfolios to capture what we view as the best opportunities in global equity markets that we expect to play …
Risk Continues to Run Rampant In Russia
November 04, 2015 | Emerging Markets
In our recent Country in Focus article in Vantage, we discussed how Russia has been in the spotlight over the past few years with its controversial involvement in Ukraine and annexation of Crimea in 2014. Lately, Russia has been in the news with its intervention in Syria, which has opened a new …
India’s Economy: Silver Linings Despite Opposition to Reform
October 23, 2015 | Emerging Markets
In late August, India’s parliament finished its summer session without passing two of Prime Minister Narendra Modi’s top priorities—a goods-and-services tax (GST) and revisions to the country’s land acquisition laws. Last year we wrote positively about Modi’s election as prime minister …
No Change in Rates: Comments on the Fed Decision
September 17, 2015 | Market Commentary
Following their two day meeting in mid-September, members of the U.S. Federal Reserve’s policy setting Federal Open Market Committee (FOMC) decided not to adjust the federal funds policy interest rate. The rate will remain within the current 0% to 0.25% range, where it has been since December 20 …
The Great Rate Hike
September 11, 2015 | Fixed Income
Recent headlines suggest that bond investors are bracing for heightened volatility in fixed income markets, with pundits citing an eventual Fed rate hike as the catalyst that could give rise to further market gyrations. As the Fed moves toward policy normalization, investors are concerned that …
Puerto Rico Adds Pressure to Muni Market Outflows
September 10, 2015 | Fixed Income
Puerto Rico was thrust into the spotlight after missing a $58 million bond payment in early August. Fixed income markets stumbled on the news, but the country’s fiscal troubles should come as no major surprise. Puerto Rico’s credit rating descended to junk status during February 2014 following …
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