GMO
Small Wonders
After a decade of consistent outperformance, Japanese small caps began underperforming their large cap peers in 2018, a trend that has accelerated since 2023. In fact, Japanese small caps have underperformed the broad Japanese market by 38% since 201...
2024-09-10
2024-09-10
AXA Investment Managers
Busy September
In the US, the employment report for August has confirmed that the labour market is cooling, but by historical standards this still retains all the features of a very soft landing: job creation remains positive, and wage growth remains robust. Still,...
2024-09-10
NatWest Group
Fed looks set to get underway
There were further signs of easing inflationary pressures in UK, with declining output price inflation, cooling wage growth and stable inflation expectations. Retail sales got a summer boost from sunny weather and rising incomes, though the recovery...
2024-09-10
J.P. Morgan Asset Management
The Weekly Brief
European automakers have had a challenging few years, exemplified by Volkswagen’s recent announcement that it is considering shutting factories in Germany for the first time. The sector is struggling to deal with still-elevated energy prices, c...
2024-09-09
Edmond de Rothschild
More Signs Of Economic Weakness Appear
US inflation has not yet hit the 2% target but July’s PCE stabilised with total inflation at 2.5% and the underlying indicator at 2.6%. Overall Manufacturing ISM for August rose from 46.8 to 47.2 but the production and new orders indices were d...
2024-09-09
Invesco
Market performance and macro factors
The gold price appreciated 4.3% in Q2 2024 to end the quarter at $2,327. During the period, gold did generate several new all-time highs, however, with the new record price of $2,450 made after markets opened on 20th May. There were three key dr...
2024-09-05
MFS Investment Management
Macro Talking Points
View from the top: fundamentals, valuations, technicals and the Fed. Alex Mackey and Pilar Gomez- Bravo, our co-CIOs of fixed income, have shared their big-picture thoughts on fixed income. When thinking about the potential drivers of future performa...
2024-09-05
Robeco
The case for Enhanced Indexing in credits
In recent years, passive investing has gained significant traction due to its predictable returns, broad market exposure, transparency, and low costs. These qualities have made passive strategies a staple in core allocations. However, while passive s...
2024-09-05
DWS
Investment Traffic Lights
Once again, the holiday month of August needed just a few unsunny hours to spoil the holiday mood of many fund and risk managers. The combination of weak U.S. labor market data, an interest rate hike by the Bank of Japan (BoJ) and a short-t...
2024-09-05
BlackRock/iShares
Patience needed in the AI buildout
Investors have started to worry about tech companies spending big on artificial intelligence. We focus on the broader story and stay overweight the AI theme. U.S. stocks have climbed back near all-time highs. Resilient U.S. growth calls into question...
