Latest Perspectives

Global Economy

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As emerging markets investors, we like Asia because of its strong reform momentum and the depth of its stock market. Rising interest rates will be good for exports and Asia’s earnings story.

Tagged with: Equities, Global Economy, Investing, Markets

Q: What indications did you observe that pointed to the recent market volatility storm? A: In our adaptive risk allocation framework, one of the key first level characterizations we make on markets is whether interest rates are normal or too low.

Tagged with: Asset Allocation, Equities, Fixed Income, Global Economy, Investing

Stock markets rose on the announcement that the government of Prime Minister Shinzo Abe was significantly stepping up its policy actions. The other major announcement was that the Government Pension Investment Fund will shift its asset allocation to domestic equities and foreign bonds/equities away from domestic bonds.

Tagged with: Equities, Global Economy, Investing

The U.S. dollar could continue to perform well, but there is a short-term case as to why dollar strength could be accompanied by more asset class volatility. Currency markets are moving ahead of what interest rate markets are telling us, so there is a disconnect.

Tagged with: Global Economy, U.S. Economy

Markets are now asking what happens if growth slows again in the U.S. and/or weak and slowing growth in Europe, Russia and China drags down U.S. and U.K. growth?

Tagged with: Economy, Equities, Fixed Income, Global Economy, Investing, Markets

The Fed (and all central banks) is highly sensitive to shifts in inflation expectations by either consumers or the markets. The one-year TIP breakeven appears to be pricing in some deflationary pulse and is also pulling down longer term inflation expectations across the curve.

Tagged with: Economy, Global Economy, Investing

Current sentiment indicators do not suggest that Europe is heading back towards recession, though GDP growth will remain subdued. If Q3 sees a rebound, full QE may be unlikely this year, but any further weakness will increase the pressure on the ECB to act.

Tagged with: Economy, Equities, Global Economy, Investing, Markets

The more things change, the less they stay the same. The last five years have brought good times to investors.  Equity markets have more than doubled, bond yields have dropped, credit spreads have tightened and volatility has calmed.

Tagged with: Asset Allocation, Economy, Equities, Fixed Income, Global Economy, Investing, Markets, U.S. Economy

A convenient, comprehensive reference that looks both back and forward to bring today’s economy, markets and investing opportunities sharply into view. The Q4 2014 MarketTrack — featuring more than 40 charts and graphs accompanied by straightforward commentary — is now available.

Tagged with: Asset Allocation, Economy, Equities, Fixed Income, Global Economy, Investing, Markets, U.S. Economy

In Japan, there is general optimism for a steady economic recovery, with a prevailing sense of confidence in reasonable valuations and a low bar for incremental improvement. Companies that can take advantage of global business opportunities look far more attractive than those simply waiting for a rising national tide to lift their boats.

Tagged with: Equities, Global Economy, Investing, Markets
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Backed by more than 100 years of experience, Columbia Management is one of the nation’s largest asset managers. At the heart of our success and, most importantly, that of our investors, are highly talented industry professionals, brought together by a unique way of working. At Columbia Management, reaching our performance goals matters, and how we reach them matters just as much.