The Inflation Trade Anew
As the inflation discussion continues to gather momentum, please join guest speakers VanEck Portfolio Managers Shawn Reynolds and Roland Morris, Deputy Portfolio Manager Charles Cameron, and sector specialists Veronica Zhang from VanEck’s natural resource equity and commodity strategies.
It seems like it’s been awhile since there’s been such a strong alignment in commodities and natural resources, from tailwinds associated with the global recovery to strong fundamentals, valuations and growth prospects across industries at a company level. The VanEck team will guide you through an in-depth look at the latest trends, their implications and potential opportunities with an overview on our diverse solutions available to access this space.
Emerging Markets in 2021: The Case for Increasing Exposure Now
The weak dollar, low-interest rates, and accelerating growth—these are just three of an array of factors that argue in favor of increasing your clients exposure to emerging markets.
Join us Wednesday, March 10, for a review of EM investment opportunities. Headlining our webcast panel will be Calamos Founder, Chairman, and Global Chief Investment Officer John P. Calamos, Sr. Joining John will be:
- Nick Niziolek, CFA, Co-CIO, Head of International and Global Strategies, Senior Co-Portfolio Manager
- Todd Speed, CFA, Senior Vice President, Portfolio Specialist
In addition to covering secular growth themes (monetary and fiscal stimulus, China’s global leadership, growth and inflation expectations, the weaker dollar, and strengthening liquidity), you’ll hear the Calamos’ take on several thematic tailwinds driving the EM opportunity, including:
- EM technology
- Global payments ecosystem
We’ll conclude our discussion with a review of the differentiated approach of Calamos Evolving World Growth Fund (CNWIX), which has successfully pursued a favorable risk/reward skew through bottom-up security selection, top-down thematic analysis, and opportunistic use of less-well-known asset classes, such as convertible securities.
CPI and PCE: Two Measures of Inflation and Fed Policy
The BEA's Core Personal Consumption Expenditures Chain-type Price Index for January, released last week, shows that core inflation is below the Federal Reserve's 2% long-term target at 1.53%. The January Core Consumer Price Index release is currently lower, at 1.41%. The Fed is on record as using Core PCE data as its primary inflation gauge.
Message from the Recent Bond Market Turmoil
The late-February spike in U.S. Treasury bond yields sent ripples throughout the global markets. As yields surged to the highest level in a year, stocks and commodities sold off sharply, while the dollar rallied.
Coming Out of COVID-19: A Look at Interest Rates and Inflation in Europe
There is hope that economies will see a more sustainable and robust recovery this year, given unprecedented levels of monetary and fiscal stimulus and as more individuals are vaccinated against COVID-19. But one question for investors is what happens next—will inflation and higher interest rates be a consequence?
Are Inflation Fears Justified?
In the near term, markets should not be too worried about a possible spike in demand driving up inflation and interest rates, causing asset prices to fall across the board. But longer-term inflation risks are skewed much more to the upside than many investors and policymakers seem to realize.
February ISM Manufacturing Index: Continued Expansion
This morning the Institute for Supply Management published its monthly Manufacturing Report for February. The latest headline Purchasing Managers Index (PMI) was 60.8, an increase of 2.1 from 58.7 the previous month and in expansion territory. Today's headline number was above the Investing.com forecast of 58.8 percent.
February Markit Manufacturing: "Production growth near six-year peak but price gauge highest since 2011"
The February US Manufacturing Purchasing Managers' Index conducted by Markit came in at 58.6, down 0.6 from the 59.2 final January figure. Markit's Manufacturing PMI is a diffusion index: A reading above 50 indicates expansion in the sector; below 50 indicates contraction.
How to Illustrate Planning Risks to Clients
Clients face three big risks in retirement from the sequence of returns, volatility and asset shortfalls. Michael Hirthler, the founder and chief investment officer at Pennsylvania-based Jacobi Capital Management, explained to me how he uses the Big Picture app to explain those risks to his clients.
Powell Changes The Rules On QE
The markets took a tumble to start this week as rising interest rates and inflationary pressures begin to weigh on outlooks. Those worries quickly diminished as Jerome Powell changed the rules to reassure Wall Street that “QE” is here to stay.
Government Bond Yields Have Surged, but Real Yields Are at Zero
Yields have jumped so much, in fact, that they’re giving stocks a serious run for their money. The 10-year yield is now higher than the S&P 500 dividend yield, which may have added to the selling pressure that cost stocks close to 2.5% yesterday.