And just like that, Elon Musk has turned on Bitcoin.
Supply chain disruptions may be a near-term challenge, but base effects will slow inflation next year.
We believe Asia is the core of growth and innovation within emerging markets, and companies domiciled in Asia comprise over 75% of the benchmark universe.
In 2017, Bitcoin entered mainstream conversation even though it had been around since 2009.
The reflation trade continued in earnest during the first quarter of 2021. Commodities were up another 13.3% from January to March, following a 14.7% move in the fourth quarter of 2020.
Despite a strong March 2021 jobs report, full employment remains far away.
LVMH Moët Hennessy Louis Vuitton is a leading global luxury brands group.
Pronounced “D-N-A,” this Knowledge Leader was founded in 1999 by three Tokyo entrepreneurs seeking to establish an online auction site.
The stock market as measured by the S&P 500 is at an all-time high.
Headquartered in Melbourne, Australia, BHP is the world’s No. 1 mining company.
Growth stocks are a different breed, and they cannot be valued in the same way you value average businesses.
Even as credit spreads have narrowed, further value remains.
Global risk assets rose in the wake of positive developments on the two main fronts that have dominated headlines over the past 12 months – pandemic and stimulus.
Covered call strategies can help investors manage short-term volatility and may provide better long-term outcomes while seeking to provide attractive monthly income to investors.
Belgian holding company Groupe Bruxelles Lambert invests in European industry leaders with two key strategies in place.
The region’s health care sector is setting a brisk pace for growth and innovation. Our team discusses the opportunity set.
Australian metals miner South32 is a 2015 BHP Billiton spinoff named to reflect the southern latitude where most of its assets are located.
Sweden’s Investor AB was founded in 1916 by the Wallenberg family with the aim of making long-term investments in high-quality global companies, a business philosophy it has maintained through booms, depressions, recessions, and global trends.
Retired participants may leave assets untouched well into retirement due to deep-seated fears that they may outlive their money.
AngloAmerican was founded in 1917 by Ernest Oppenheimer, who moved from Germany to Johannesburg, South Africa, and secured financial backing from J.P. Morgan to start a gold mining business.
Our positive 2021 economic outlook, combined with better-than-expected company fundamentals, supports strong credit performance and spreads.
The GMO Asset Allocation Team has released its latest 7-Year Asset Class Forecasts through January 2021.
A solution for the challenge of moving wirehouse clients with active securities-based loans.
As COVID-19 vaccines roll out and resrictions lift, a US economic rebound could lead to tighter Federal Reserve policy and higher yields. Municipal bond investors may worry about how rising yields could hurt their portfolios.
A brief monthly update on what's happening in the municipal bond market.
I don’t say this often, but Fed Chairman Jerome Powell is wrong. Regular readers of our investor letters and other publications will recall that we regularly cite Chairman Powell as doing the best he can with the levers he has while arguing correctly for others to do their part.
Relative value currently favors floating-rate loans over high-yield bonds.
The 4th quarter of 2020 began with tremendous anxiety and divisiveness around the Presidential election. Investment markets reflected that anxiety.
We thought this graph might be of interest to you. It highlights the historic changes of leadership between growth and value stocks held in the MSCI World Index.
The Mortgage and Structured Finance Sector Team discusses key themes in the securitized market in 2021.
The Loomis Sayles Municipal Sector Team discusses key themes that may impact the municipal market in 2021.
GMO 7-Year Asset Class Forecasts: Value vs. growth is coming off its worst year ever.
Our outlook for 2021 is formed by the need to get away from the crowd and to expect some very stormy weather in the U.S. stock market. We are not afraid of drowning. Therefore, we will review the circumstances at the bottom of the market in 2009 with today’s market to see where the crowd is and where we need to go to avoid the coming storm.
The Loomis Sayles Investment Grade Sector Team answers three questions on their outlook for 2021.
Loomis Sayles' Global Credit Sector Team shares their outlook on key themes in the euro credit space.
The Loomis Sayles Emerging Markets Debt Sector Team shares their views on corporate spreads, foreign exchange and leverage in 2021.
On January 11, 2021, the Executive Order 13959 (“E.O.”) issued by Donald Trump designed to protect U.S. investors from financing Communist Chinese Military Companies will go into effect. In this Q&A, Matthews Asia addresses key questions on its potential impact for investors.
Loomis Sayles' high yield sector team discusses downgrades, defaults and value in the high yield market in 2021.
Now that 2020 has drawn to a close, I’m revisiting my most popular investment posts of the year, based on views. It was a truly historic 12 months, to say the least, but I won’t be covering everything that happened.
How can credit markets help active investors achieve their goals in the present low yield environment? Here are 5 ideas.
Fed officials project interest rates will be near zero through 2023, as the distribution of the COVID vaccine appears to provide light for the economy in 2021.
December 21st marked the first trading day with Tesla TSLA being included in the S&P 500 Index SPX, as it replaced Apartment Investment & Management Co. AIV. At a market capitalization of over $624 billion, TSLA is the largest company to ever join the S&P 500.
While real return forecasts for broader markets are not particularly promising, there are some pockets that look more attractive than others. As GMO put it in the firm's recent Quarterly Letter, "Value is cheap, no matter where you look."
The U.S. stock market surged in November, erasing October’s losses even amid a rising number of coronavirus infections. Propelled by progress toward potential coronavirus vaccines and hopes for a relatively smooth transition to power for president-elect Joe Biden, major U.S. equity indices closed the month with double-digit gains.
At various points previously, we have discussed the debate regarding active vs. passive management. Proponents of passive management insist that active managers cannot consistently outperform a passive benchmark and therefore investors are better off to invest in lower cost index funds.
More than most years, it’s hard to look ahead to the next year, to 2021, without looking back at 2020. A global pandemic, a massive economic collapse, a bear market, a surprisingly sharp reversal, a hotly contested election where passions ran high, the impact of lockdowns—it was an unusual year of extraordinary challenges.
We highlight the reasons behind our pro-risk stance in our 2021 outlook in the weekly commentary.
Recently we discussed the “rotation trade” and examined the performance of the S&P 500 sectors during shifts from growth to value. Another facet of the rotation trade has been a shift from large cap to small. Today we wanted to examine sector performance in another facet of this rotation – a shift from large cap to small cap.
As we arrived at the beginning of November, much of the investment community had heightened concerns about the prospects for continued domestic equity growth during what was assumed to be a volatile market environment with the potential for a contested US presidential election.