Perspectives Blog

What to make of the rebound in emerging market equities

Dara White, Senior Portfolio Manager | April 14, 2014

…10 and have stagnated at or below zero in recent quarters. The developed world (the core of the export consumer market) is recovering, but it has been an anemic recovery. U.S. growth has not broken out of the 2%-3% range, the eurozone is no longer contracting but expectations are for growth of only about 1%, and there are questions regarding Japan’s ability to sustain any growth rebound with the introduction of the new consumption tax. So EM grow…

Asset allocation chart December 2013

Jeffrey Knight, CFA, Head of Global Asset Allocation | January 6, 2014

…ntinue to favor absolute return strategies. We remain underweight U.S. equity allocations mainly on relative valuation. We see potentially better opportunities in select international equities. We continue to favor the UK and eurozone on better economic momentum; short-term valuations have run up a bit, but still supportive longer term. We moved to strong overweight to Japan on favorable monetary and macro conditions. We remain neutral on emergin…

Asset allocation November 2013

Jeffrey Knight, CFA, Head of Global Asset Allocation | December 12, 2013

…ue to favor absolute return strategies. 2. Remain underweight U.S. equity allocations mainly on relative valuation (limited near-term upside). Better opportunities in select international equities. 3. Continue to favor UK and eurozone on better economic momentum; short-term valuations have run up a bit but still supportive longer term. 4. Continue to favor Japan on favorable monetary and macro conditions; earnings momentum has waned of late. 5. D…

Fixed income outlook: From liquidity to growth

Gene Tannuzzo, CFA, Senior Portfolio Manager | July 10, 2013

…he developed world. This includes Japan in which we expect large scale monetary and fiscal stimulus to bring growth, if only temporarily, well above trend. In addition, there are some more recent signs of stabilization in the eurozone as well. While the market has recently been focusing on what it is likely to get less of (liquidity from the Fed), we expect the second half of the year to be more about what it is likely to get more of (developed m…