Equities
Investors focused on the flurry of cabinet nominations in the aftermath of the US election, but the US does not have a monopoly on political drama. France is going through turmoil of its own. This summer’s snap election left France’s government weakened,…
Our Private Markets & Alternatives strategists have delved into the North American Buyouts market, concluding that the investment playbook needs rewriting. The performance of Middle Market Buyouts has been exceptional, leading many investors to stick…
President-elect Trump jolted markets Monday night by declaring that tariffs will be implemented on imports from Mexico, Canada, and China. The US dollar strengthened while stocks fell, as did Treasury yields. Equities, however, recovered on Tuesday, as a…
Our 2025 Outlook was just published. We revisit this year’s calls and discuss what we think is ahead for the global economy and markets for the next 12 months and beyond. The recent US election has significantly shifted our economic and market outlook. A…
Our US Investment Strategy team analyzed recent US consumer trends through the lens of major retailers’ earnings calls, which highlighted increasingly prudent spending. Consumer caution is apparent in these earnings calls as pandemic-era savings fade, and…
Prior to Nvidia reporting, 76% of S&P 500 companies beat earnings expectations while 61% beat on sales. Nvidia beat earnings expectations, but the magnitude by which guidance beats the most optimistic analyst expectations is decreasing. During our BCA…
Our US Equity strategists investigated the underperformance of the Green and Clean (G&C) investment theme, in the context of an incoming US administration expected to be less friendly towards green initiatives. The G&C investment theme has…
Our Global Asset Allocation team analyzed the performance and allocation strategies of 79 US public pension funds, providing insights across governance, scale, and liquidity. Strategic Asset Allocation (SAA) is the most significant driver of fund…
The flipside of the recent US dollar rally has been weakness across both DM and EM FX. The USD rally has legs and will have cross-asset reverberations. EM equities will be affected. A key determinant of EM returns is the currency, as investors cannot…
Our China Investment Strategy team assessed the country’s outlook in a context of underwhelming stimulus and rising trade tensions. Trump’s re-election raises the likelihood of tariff hikes on Chinese exports. China’s recent stimulus announcements…