Beyond Bulls & Bears

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Weighing the Odds of Compromise in Greece, and the “Grexit”

We would be surprised if Greece’s creditors offered any fresh money until the new government makes clear its intentions vis-à-vis the country’s existing debt obligations.

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Headwinds—or Tailwinds—for Fixed Income Investors

As long-term, fundamental investors, we think the equilibrium rate—the prevailing interest rate when supply equals demand—for intermediate US Treasuries should be higher and likely will move higher—eventually.

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Global Economic Perspective: January

There might be the risk of further geo-political instability involving countries like Russia, Iran and Iraq as a result of their declining macroeconomic prospects. However, we believe that while there are losers from the dramatic fall in oil prices of the past six months, the global economy as a whole should benefit from lower oil prices in the coming months.

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QE Train Arrives at Eurozone—Finally

The European Central Bank's (ECB's) plan to purchase €1 trillion in bonds ... demonstrates that the ECB not only talks, it also acts, which is important for market psychology.

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2015 Investment Outlook: Asian Credit Markets

Focusing specifically on Asia (ex Japan), we see a region that continues to lead global growth, despite slowing from high levels, while offering attractive valuation relative to developed markets. This dynamic is not new, as yield-hungry investors have looked to Asia for spread pickup in the wake of the 2007–2009 global financial crisis.

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2015 Investment Outlook: Global Equities and the Opportunities within the Challenges of Shariah Investing

It has been our view that the only lever the Japanese government has full control of is monetary policy. Fiscal stimulus is constrained by national debt levels and the difficulty of raising tax revenue and structural reform. Even if maximised and fully implemented, it would likely take time to show results.

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Alternatives

2015 Investment Outlook: Reasons We Still Like Global Equities

We continue to favor equities in emerging Asia over emerging Latin America due to what we view as stronger corporate fundamentals and attractive valuations.

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2015 Investment Outlook: Oil Price Declines and Implications

While we expect continued volatility [in the energy sector] in the near term given depressed sentiment, we believe that the current environment offers a rare opportunity to buy what we consider long-term income and growth opportunities at deeply distressed levels.

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2015 Investment Outlook: US Economy May Be Poised for Further Growth

We believe we are on the cusp of many new products that will change our lives and how we communicate with one another in ways that are difficult to imagine today.

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Investment Outlook 2015: Five Reasons Why the Eurozone May Surprise Naysayers

A consensus is growing among market watchers that the euro will likely weaken further versus the US dollar in 2015. I usually don't like to agree with the consensus, but this time, I have to admit that the momentum for the euro appears to be downward.