Beyond Bulls & Bears

Japan’s Demographic Challenges Dampen Growth
Fixed Income

Japan’s Demographic Challenges Dampen Growth

Demographics have played—and continue to play—a key role in holding back Japan’s growth performance. Japan’s population keeps aging at a rapid pace.

Japan: The Quest for Growth and Inflation
Alternatives

Japan: The Quest for Growth and Inflation

Abenomics [in Japan] constitutes a true regime change and has already had a significant impact—but the road to sustainably higher growth and inflation is still long.

China: Searching for a New Equilibrium

China: Searching for a New Equilibrium

Overall, based on our detailed analysis, we believe China will remain on course … while the economy shifts toward consumption, services and higher value-added manufacturing. This could have important implications for the global economy.

Hasenstab: The Contrarian Case of Hungary

Hasenstab: The Contrarian Case of Hungary

We started investing in Hungary a number of years ago when the market was very bearish on the fundamental outlook for the country. We saw long-term potential even though we recognized that in the short term Hungary faced a difficult period.