Changes to the Market Forecast
The Lazard Multi-Asset team details their views over the next six to 12 months. While the United States-China Phase 1 trade agreement and the United Kingdom’s exit from the European Union have reduced near-term uncertainty and improved sentiment, the coronavirus outbreak in China could have a noticeable negative effect on global economic activity.
3 Reasons to Stick with Tech Stocks
Technology shares are once again leaving everything else in the dust. Year-to-date, the MSCI Information Technology sector, led by U.S. tech, is beating the broader market by over 5% and is ahead of laggards, notably energy, by nearly 20%.
A Multi-Asset Approach to Assessing Risk and Opportunity in Emerging Markets
While there are a number of uncertainties in the global economy today, many investors may not realize the depth and breadth of potential opportunities emerging markets still offer—on both the equity and fixed income side.
Does the Economy Affect Factor Returns?
With all the attention that is paid to macroeconomic variables and forecasted growth, it’s vitally important to understand the role that the economy plays in portfolio returns – in particular, the returns of the value, beta and size factors.
A JOLT to Job Openings & Asset Expectations
This morning the monthly job openings and labor turnover (JOLTS) report was released, and it came in significantly shy of expectations. While Bloomberg’s consensus estimate was for 6.925 million job openings, the actual number came in at 6.423. It is important to keep in mind that this is December data, so it doesn’t yet reflect the impact of the coronavirus on business operations.
Growing a Sustainable Book of Business Based on Advisory
Like the three little pigs building their houses, financial advisors have many choices of how they will build their books of business. Many of the most successful advisors embrace fee-only wealth management. In this blog post, we put some numbers to these theories.
Robbing 2020 to Pay 2019: A Reality Check for Fixed Income
Fixed income markets are different from equity markets. This statement is absurdly self-evident when put into writing. But it’s not as obvious when put into the context of today’s market dynamics.
Market Timing with the S&P 500 Golden-Cross and a Recession Indicator
The “golden-cross trigger” has been a reliable guide to equity investment. But it is not that good – since 1990, there were many periods when it would have been better to ignore its signals. One can do much better with a simple improvement by including a recession indicator.
The Latest Look at the Total Return Roller Coaster
Here's an interesting set of charts that will especially resonate with those of us who follow economic and market cycles. Imagine that five years ago you invested $10,000 in the S&P 500. How much would it be worth today, with dividends reinvested but adjusted for inflation? The purchasing power of your investment has increased to $16,591 for an annualized real return of 10.17%.
Weekly Investment Strategy
President Trump delivered his third State of the Union address Tuesday night. In accordance with the US Constitution, the president has the responsibility to update Congress on measures deemed “necessary and expedient.” The event is not without tradition, but prior presidents have not hesitated to deliver their message in their own unique way.
Putting the Coronavirus in Perspective: Hong Kong and Chinese Stocks
The number of confirmed infections of the coronavirus in mainland China crossed above 24,000 on February 5, having already surpassed the total number of severe acute respiratory syndrome (SARS) cases from 2003.