05 December 2018
Investing
Outlook 2019: a regime change in fixed-income: – asset allocation challenges
As markets face central bank quantitative tightening (QT), there are signs that we are on the brink of a regime […]
05 December 2018
05 December 2018
Investing
Outlook 2019: investing for a sustainable future
An eventful ride We have seen unparalleled progress on global efforts to address the world’s biggest sustainability challenges, showcased by […]
04 December 2018
Investing
Outlook 2019: emerging markets – buy the dip in equities?
Emerging market (EM) equities fell into, and remained in, bear market territory in 2018, raising the question whether in 2019, […]
04 December 2018
Investing
Outlook 2019: emerging markets – opportunities in fixed income amid the furore
We have long argued that there is a real reason to worry about the fundamentals of many emerging markets (EM): […]
03 December 2018
Investing
Outlook 2019: Markets – policy normalisation – a tricky balancing act
What are the key risks that investors face in 2019? We see risks coming mainly from three distinct sources: the […]
03 December 2018
Investing
Outlook 2019: Markets – adapting to quantitative tightening
Whereabouts are we in the credit cycle? Simply looking at measures of the credit cycle, for example, ratings upgrade-downgrade ratios […]
03 December 2018
Investing
Outlook 2019: Macroeconomics– waiting for inflation
Wage inflation has started to pick up. Is the revenge of the Phillips curve a theme for 2019? Investors have […]
03 December 2018
Investing
Outlook 2019: Regime change
As pronounced bouts of market volatility – in January/February and again in October – reminded investors in 2018, swings in […]
27 November 2018
Thought leadership and the outlook
BNP Paribas Asset Management Investment Forum: Great instability
How should investors respond to a world where the only constant is increasingly rapid, disruptive change? To deepen our understanding […]
22 November 2018
Investing
If the renminbi breaks the 7/USD threshold – well, so what?
During the first half of November the renminbi has been trading around 6.95 against the US dollar (see exhibit 1 […]
16 November 2018
Investing
Chart of the week: Rising cost of hedging US dollar exposure
Mind the gap! Over the course of 2018, the US Federal Reserve is on course to raise the federal funds […]
15 November 2018
Investing
Currency risk: full hedging? Or is partial (or no) hedging better?
How should an investor with a medium-term horizon deal with currency risk? That is a crucial question given that, unlike […]
14 November 2018
Markets and central banks
Does a rise in market power explain the ills of developed economies?
The spectacular rise in market power of relatively few companies that practically monopolise their industries, especially in the US, has […]
07 November 2018
Thought leadership and the outlook
A post-election recipe: Gridlock with a dash of stimulus
As widely expected, Democrats captured control of the House of Representatives in the midterm elections on 06/11/18, emerging with a […]
12 September 2018
Thought leadership and the outlook
Changing China’s incentive scheme in the new growth model
I have previously argued that President Xi Jinping is forcefully changing the political and economic incentives that have been in […]
11 September 2018
Sustainable investing
Global warming catches up with us
Experience teaches us that it’s best, where possible, to avoid being the bearer of bad news. Yet to front up […]
30 August 2018
Thought leadership and the outlook
Germany – the impasse over migrants dominates events
Early in the summer major tensions flared up within the German coalition government in a period also marked by German-Franco […]
20 August 2018
Thought leadership and the outlook
Real estate debt: an opportunity identified
With cost of capital constraints forcing many banks to distribute part of their commercial real estate debt, many fund managers […]
