Search results for: recession

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Is there opportunity in small-cap banks?

As profitability rebounded from the financial crisis and return on assets improved in 2012 and 2013, the banking industry once again began to outperform. We continue to see growth in commercial and industrial loans as a positive indication for the economy.

Tagged with: Equities, Investing, Markets

Finding bond opportunities throughout the business cycle

Global bond markets respond in different ways throughout the business cycle. A flexible strategy can adapt its risk complexion to capture opportunities and mitigate downside.

Tagged with: Fixed Income, Investing

Three reasons why REITs can continue to rally

REITs have produced attractive returns YTD being up 13.60% through April (up 16% as of May 12). Fundamentals remain solid, demand for commercial real estate remains strong and companies continue to increase dividends.

Tagged with: Equities, Investing

Asset allocation: Q4 equity strategy

After the recent correction and with the breadth of our asset allocation research still favoring equities, we are rebuilding an equity overweight, primarily using U.S. large-cap stocks. While the Fed heads toward the exit, the European Central Bank is planning to provide further monetary easing and the Bank of Japan is continuing to expand its balance sheet.

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

Labor markets in the new digital age

The downside to technological progress is short-term dislocations and job loss for those displaced by automation. Workers with high skills and advanced education command a wage premium while unskilled and lower-skilled workers are displaced which aggravates income inequality.

Tagged with: Economy, U.S. Economy

Dovish feathers showing through

Dovish comments by Fed officials lead us to believe that normalization in interest rates could take a more circuitous route. While the steady economic recovery makes higher yields inevitable, the path we take to get there is dependent on the Yellen Fed’s policy approach.

Tagged with: Economy, U.S. Economy

Muni market – Favorable environment remains in place

After 13 consecutive months of positive returns, it is not surprising that the muni market has taken a step backward. We believe that the muni market remains on sound footing due to supportive market fundamentals and technicals, as well as our entrenched high tax environment.

Tagged with: Fixed Income, Global Perspectives, Investing, Muni Perspectives, Muni Perspectives Blog, Municipal Bonds

2015 – The year of living carefully?

We expect high yield and emerging markets debt to deliver better returns in either a slow growth or inflationary recovery scenario. Investors should brace for higher levels of price volatility as monetary policy continues to move in different directions around the globe.

Tagged with: Fixed Income, Global Perspectives, Investing

Inflation — The usual suspects

Four factors figure empirically into how and why inflation moves: (1) commodity prices, (2) spare capacity, (3) changes in exchange rates, and (4) monetary policy. These same factors argue for a gradual recovery in U.S. inflation in the year ahead, which could be a headwind for high-quality fixed-income returns.

Tagged with: Economy, Fixed Income
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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.