New sheriff in town
In the run-up to President Trump’s second term, investors have been trying to handicap the potential impact of his fiscal policies on inflation, economic growth, corporate profits, the Federal Reserve (Fed) and financial-market performance. Equity enthusiasm prevailed from early August into early December, as the S&P 500 soared 19% over that four-month period to its 57th […]
Fiscal expansion fears loom over debt markets
Fast reading ‘Fiscal expansion’ in many of the world’s largest economies looks poised to rise to the top of investors’ concerns in 2025, ahead of monetary policy. As interest rates stabilise, investors may be tempted to extend credit duration. However, geopolitical and economic upheaval has heightened uncertainty. Short duration strategies provide the ability to move […]
Volatility, velocity and vigilantes
After a choppy start to the year, and a rally through much of Q2 and Q3, the Bloomberg US Aggregate ultimately gave up a portion of year-to-date (YTD) return in Q4, while remaining modestly positive for the year at 1.25%. Growing investor expectations of a Donald Trump win fuelled a risk rally in the weeks […]
Why invest in trade finance?
Fast reading Global merchandise trade volumes reached US$25tn in 2022 – up from approximately US$14tn in 20071 – bolstered by rapid growth in so-called south-south trade (between developing countries), which is forecast to represent 40% of global trade by 20302. Among the factors that makes trade finance a unique investment proposition is that it sits […]
US-SMID-Aktien im Spotlight
Mit einer Auswahl von rund 2.500 Unternehmen bietet diese Anlageklasse vielfältige, qualitativ hochwertige Optionen, die derzeit mit einem Abschlag im Vergleich zu Large-Cap-Aktien gehandelt werden. Darüber hinaus wird erwartet, dass struktureller Rückenwind wie Onshoring und Bevölkerungswachstum das künftige Wachstum ankurbeln wird, was US SMID zu einer robusten Wahl macht. Das Video hebt Vorteile für Stockpicker […]
Gute Aussichten für Cashmanager
Nach einem wechselhaften Jahr sieht die Geldpolitik 2025 klarer aus. Die Federal Reserve (Fed) scheint eingesehen zu haben, dass sie sich im September mit ihrer Zinssenkung verkalkuliert hat. Die Inflation hatte bereits ein Plateau erreicht, und der Arbeitsmarkt schwächelte zwar, war aber kaum schwach. Angesichts der starken Wirtschaftslage haben die Verantwortlichen erkannt, dass die Politik […]
SDG Engagement Equity: Fallstudie
Ansell
Tariffs on the table
Video transcript How do you think tariffs might affect international equities in 2025? Tariffs are going to affect international equities in 2025, primarily because of uncertainty. The uncertainty that obviously comes with the recent Trump election is that the level of tariffs is going to mean that, at the end of the day, we are […]
All change at the top? A 2025 outlook for US SMID
In this latest edition of our virtual portfolio briefings, Steven Chiavarone, Head of our Multi-Asset Group, delves into macroeconomic trends shaping the US market. The discussion continues with the US SMID investment team (Mark Sherlock, Lead Portfolio Manager; Henry Biddle, Co-Portfolio Manager and Charlotte Daughtrey, Equity Investment Specialist) who assess the impact of the election […]
Is high yield ‚priced to perfection?‘
Economy With solid progress on inflation, the Federal Reserve (Fed) began an easing cycle in 2024. However, January will usher in a new administration and policies contemplated under Trump 2.0 may not be bondholder friendly. While the market has mostly shrugged off concerns to date, President-elect Trump’s policies may lead to greater deficit spending and […]
