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The views expressed are those of the author at the time of writing. Other teams may hold different views and make different investment decisions. The value of your investment may become worth more or less than at the time of original investment. While any third-party data used is considered reliable, its accuracy is not guaranteed. For professional, institutional, or accredited investors only.
As asset owners contemplate allocation decisions for a post-COVID world, two topics are regularly showing up on the radar: alternatives and climate change. After more than a decade of strong equity performance — and with fixed income poised to deliver lower returns and perhaps a more modest diversification benefit — I think the time is ripe to revisit alternative exposures and consider several areas where the winds of change are blowing. Meanwhile, real-world weather patterns and climate events are raising issues that may impact not only security and manager selection but also broader investment policy, including capital market assumptions and strategic asset allocation. I’ll offer a preview of our Investment Strategy team’s work on these topics and suggest next steps for climate-aware portfolio decisions.
Looking across the alternatives space, there are a number of trends and best practices that haven’t changed, but also several important new ones that asset owners should be thinking about. Let me start with three things that haven’t changed:
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US regional banking sector updateContinue reading
Chair Powell maintains optionalityContinue reading
FX outlook: Is USD exceptionalism withering away with the Fed hiking cycle nearing an end?Continue reading
Global high yield: Attractive entry points could soon emergeContinue reading
Macro risks to watch in this rapidly oscillating global cycleContinue reading
China’s economy: Poised to exceed expectations in 2023Continue reading
2023: The year of disinflation for the US economyContinue reading
US regional banking sector update
We explore how banking regulation and legislation could impact US regional banks, including highlighting the potential for M&A activity and for dispersion to drive long/short opportunities.
Chair Powell maintains optionality
Fixed Income Analyst Caroline Casavant shares what she thinks matters most for investors in light of the latest interest-rate hike from the Fed.
FX outlook: Is USD exceptionalism withering away with the Fed hiking cycle nearing an end?
Discover the status of the USD today, learn where the greenback may be headed going forward, and understand why.
Global high yield: Attractive entry points could soon emerge
Fixed Income Portfolio Manager Konstantin Leidman shares his outlook for high-yield fixed income for the rest of this year and beyond.
Did the Fed just make a policy error?
Did the Fed just make a policy error? All things considered, Fixed Income Portfolio Manager Jeremy Forster thinks the answer is yes. Learn why and what the implications could be.
Three macro assumptions that could be just plain wrong
Fixed Income Portfolio Manager Brij Khurana offers his non-consensus take on three entrenched, but potentially flawed, beliefs in today's market environment.
Macro risks to watch in this rapidly oscillating global cycle
Macro Strategist John Butler explores the two key questions he believes macro investors should focus on in the current volatile environment.
Financial stability versus inflation: The Fed’s balancing act has gotten much trickier
The Fed’s policy calculus has clearly changed somewhat over the past few weeks but the central bank may not be done hiking rates just yet, says Fixed Income Portfolio Manager Jeremy Forster.
China’s economy: Poised to exceed expectations in 2023
With the bar set so low for China's economy, Macro Strategist Santiago Millan thinks it won't take much for an upside surprise in 2023.
2023: The year of disinflation for the US economy
In the coming year, US Macro Strategist Juhi Dhawan expects to see inflation begin to decline, the economy adjust to higher interest rates, and labor markets feel the pain of restrictive Fed policy.