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The New World: Moving Beyond Covid

September 9, 2021
The global economy performed strongly over the summer, but the delta variant has led to increasingly frequent data misses versus expectations. This has seen us downgrade our near-term US growth outlook just as high inflation readings have shifted attention to when central banks will taper asset purchases. These inflation fears initially centred on the US, but the Euro Area now has its highest inflation in almost a decade as well. For now investors are still convinced, as is priced in, that inflation will be a temporary phenomenon that will mostly self-correct.  [more]

More documents about "International"

247 Documents
December 6, 2021
1
Our US Transportation team has published its 2022 Outlook Report. The bottom line is that they’ve been bullish for a long time, and they continue to be bullish for the outlook for 2022 But it’s clear that the accommodative macro conditions are likely to wane. Specifically, we’re transitioning from a period of easy monetary and generous fiscal policies to a period that is less easy and less generous. This has implications for equity valuation. [more]
December 6, 2021
Analyst:
2
Inflation is not transitory, in our view. While its destination might be clear, detours and delays are possible -- as highlighted by last week's Omicron sell-off. Nevertheless, at c.8x earnings, the sector is not priced for imminent interest rate hikes, pointing to upside in case of delivery of interest rate hikes -- the key theme for the sector in 2022. [more]
November 16, 2021
6
Governments from around the world will parade their climate credentials at the COP26 summit ... but when the dust has settled, much of the pressure to implement their plans will be delegated to corporates. Post-COP, firms will be pushed via policy or social pressure to spend more to mitigate climate change. The cost may be high but proactive firms are already being rewarded by customers and investors. Those that delay may face penalties. [more]
November 11, 2021
7
The short-term growth outlook has weakened amidst supply-chain issues and an energy shock that has boosted inflation. But there is still major fiscal support, whilst vaccines and other medicines will help against Covid.

If inflation proves even higher than anticipated, that could lead to tighter monetary policy that knocks growth off course. [more]
November 8, 2021
8
Jose Gonzalez, Quant Strategist discusses a recently published study on the topic of Commodity Curve Investing; uncovering two crucial term-structure characteristics 1) the commodity curve shows significant momentum patterns 2) recent slope moves contain information about future price changes for an example. Systematic investors can exploit these phenomena through two quant strategies: Curve Momentum and Curve Spillover Momentum. [more]
November 2, 2021
10
Governments from around the world will parade their climate credentials at the COP26 summit ... but when the dust has settled, much of the pressure to implement their plans will be delegated to corporates. Post-COP, firms will be pushed via policy or social pressure to spend more to mitigate climate change. The cost may be high but proactive firms are already being rewarded by customers and investors. Those that delay may face penalties. [more]
September 28, 2021
Analyst:
11
With demand for ESG products & solutions remaining strong, and asset managers advancing their ESG capabilities, we see asset managers bolstering their dedicated ESG product line-ups at an accelerating pace. We recently caught up with management teams across our coverage of US based traditional asset managers about their recent & planned ESG product launches, perspectives on client demand, as well as their current range of ESG products. [more]
September 20, 2021
12
Many corporates have penciled in a strong rebound in earnings this year backed by forecasts of robust pent-up demand. Yet, so far there is little evidence of the spending surge that so many expect. Corporates are not wrong to anticipate hefty spending; all the right ingredients are there. Savings jumped due to government stimulus and a lack of spending options. So what’s happening then? [more]
22.2.0