Mitigating factors may still prevent it, however
Discovering new ideas that deliver value
Heading into 2022, valuations for most asset classes appear full - particularly equity market multiples, but also extending to credit spread
Home bias could mean key opportunities are missed
Long-term fundamentals continue to guide our investment approach.
Discover the latest global market themes
Pressure to reduce dependence on Russian gas could expedite Europe’s energy transition
MSCI announced that it would remove Russian securities from its indices after markets close Wednesday March 9 at a price “that is effectively zero”. This followed consultation with a number of market participants and was made in direct response to the difficulties of market accessibility. The action has implications for investments that track several MSCI indices including the MSCI Emerging Markets index.
History shows that Fed hikes alone tend not to derail markets
The investment story of 2022 will be tactical bear, structural bull
Understanding the government’s social agenda is key
Inflation risk can be mitigated by using inflation-linked bonds, cyclical assets, and high-yielding bonds with low duration
Complex environments need active management to help steer portfolios in the right direction.
Despite strong fundamentals, growth stock valuations are extreme
Momentum on emissions targets builds ahead of COP26 conference.
Corporate earnings will likely be the focus after a post‑pandemic recovery.
Recovery is on track, but inflation pressures create risks.
Investors have rarely experienced such an extraordinary period. Just as the 2020 shutdown of much of the global economy by the coronavirus pandemic was unprecedented, the recovery this year is likely to be unlike any that preceded it. Economic activity is reviving far more quickly than anticipated and has already produced a V‑shaped recovery in some countries and regions. Growth looks set to accelerate further in the second half of 2021, particularly in the US.
Tensions remain elevated, but expect a return to more multilateral negotiations
Opportunities presented by public policy in the Biden era.