Market signals pose 'dilemma' for investors
Knee-jerk reactions could become self-fulfilling
Negative yields unlikely
Look ahead to the next three months
Which asset classes will benefit?
The most resilient companies examined
Which product is worthy of the yellow jersey?
We are seeing a new bout of deterioration in fundamentals, with earnings revisions worsening and PMIs back on a declining path across emerging markets (EM).
Part of the June equity market rally was driven by growing investor expectation of a July rate cut in the US, which we believe is overdone.
A bull market in US equities that has run for more than a decade, and generally low volatility over the years, may give investors the impression the ride will never end.
Market-neutral product to launch soon
Build on US experience on investing, manager argues
There are several signs the US equity market is bifurcating, with pockets of overvaluation and undervaluation becoming extreme.
In the first half of 2019, the uncertainty surrounding Federal Reserve policy and US-China trade negotiations affected the outlook for all asset classes including global small-cap stocks.
The current bull market in US equities began in March 2009. The decade that followed has seen US equities rally by 300%. The early years were dominated by concerns about fiscal and monetary policy on the one hand, and the sub-par growth on the other....
Richard Halle to take charge
Which funds stole the show?
Cutting costs - and political legacies - dominating the US
And which are the laggards?
Fears of a full-blown trade war and slowing economic growth appear at odds with the progress being made by companies around the world.
'Markets will need to get used to this'
Concentrated portfolio of 75 to 100 positions worldwide
Central banks in tight position in case of downturn