fund manager views

After a volatile Q4 2018 when credit spreads widened but government bonds rallied due to safe-haven flows, fixed income markets across different categories have delivered strong returns so far this year.

Emerging markets, much like developed markets, have been influenced by macroeconomic and political developments since the start of the year.

Back in 2000, the privatised utilities were a somnolent bunch, unattractive in contrast to the fireworks of the TMT bubble.

With a General Election now called for 12 December, there is a chance that the acrimonious stalemate in Parliament over Brexit might soon be over and the UK will leave the EU by 31 January 2020.

It is a nightmare writing an investment piece about the UK.

It has been a strong showing for European equities in recent weeks, with the European Central Bank (ECB)'s policy action – and the rate cut in the US – all helping to lift shares higher.

The sustainability of UK equity income streams has been called into question, with underlying dividends across the market falling by almost 3% on a constant currency basis during Q3 – the worst quarterly performance for three years.

The strong underlying demand growth in liquefied natural gas (LNG) sets the global gas market apart from the oil market, where a managed decline in long-term production seems to be the most plausible future scenario.

Japanese equities have been sensitive to weaker global industrial demand over the past 12 months, but we expect the earnings impact from the ongoing slowdown to bottom out by the end of this fiscal year.

The auto sector and credit markets have long had a love-hate relationship.