Beyond Bulls & Bears

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Fixed Income

European Bond Market: What Lies Beyond the Politics?

While politics may dominate the investment agenda in Europe and further afield, it won’t be the only theme for investors, in our view.

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Fixed Income

2017 MENA Outlook: A Quiet Economic Evolution

We’ve seen more happen to the GCC economies in the past 18 months than we’ve seen happen over the past 10 years. In our view, these structural reforms have fundamentally altered the fiscal landscape.

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Fixed Income

Australian Headwinds May Benefit Yield-Seeking Investors

Since the fundamental determinants of bond yields—economic activity and inflation—are expected to be muted this year, the recent rise in Australian government bond yields presents an opportunity for investors, especially in the short end of the bond curve.

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Equity

Is There Scope For Optimism in Europe in 2017?

We are confident that we could see a decent earnings recovery in sectors whose earnings have been depressed for a couple of years (financials, energy), while cyclical sectors overall should likely benefit from a stronger economy overall.

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Equity

Driving a Case for Convertibles in 2017

In our view, 2017 could be a year where the unique properties of convertibles become an important feature for investors' asset allocation.

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Equity

Politics, Policy Uncertainties Likely to Sway Markets in 2017

As markets get more clarity on the emerging policy backdrop, we believe companies with strong growth potential that the market has overlooked will likely fare well over the longer term.

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Equity

The Great Sector Rotation, and the Road Ahead for UK Equities

In the closing months of 2016, there were big changes in some of the financial metrics that feed into economic assumptions and indeed equity valuation assumptions, and we think that sets the tone for where we move into 2017.

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Perspectives

Global Economic Perspective: December

We feel some caution may be required before assuming that a more expansionary fiscal approach by the new [Trump] administration will quickly translate into a sustainably higher growth rate for the US economy. While the US corporate sector could benefit from future tax cuts, it may suffer if other policies are introduced that restrict trade or immigration.

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Fixed Income

In the Know: Fed Lifts Rates, but “Lower for Longer” Likely

We are cautiously optimistic the backdrop of potentially lower regulation and lower taxes could be a net positive for US economic growth and the corporate environment broadly, but many of the potential changes are likely to be easier said than done. To not anticipate any bumps would be overly optimistic.

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Fixed Income

Finding the Positives from a Tumultuous Week in Europe

While I think it’s important to continue to look at the underlying fundamentals, I maintain that politics and monetary policy will the most important drivers of financial markets over the next year.

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Equity

Why a Continued Rise in Gold Prices May Still Pan Out

One of the key drivers for gold is uncertainty. While all elections bring change, given the US results this year and subsequent market reaction, upcoming elections in Europe and elsewhere seem to have the potential for more upheaval than most.

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Equity

There’s More to India Than Just the Growth Story

The past few decades have brought about a shift in the types of jobs available in India—from low-paying agricultural jobs to higher-paying manufacturing and service jobs. Given the increase in disposable income, we believe consumer demand will drive company earnings growth as well as the Indian economy.