VantagePoint: Third Quarter 2019
In this edition of VantagePoint, we uncover four of the most common inaccuracies we hear about US equities.
July 2019
Could the Equity and Bond Markets Both be Right About the Macro Outlook?
Yes. While equity and bond markets don’t often rise in tandem like they have lately, history suggests that both recent moves could be warranted if central bank stimulus successfully extends the cycle. But that is a big “if”; several moving parts cloud the macro outlook, and markets are assuming that central banks can reverse the recent economic slowdown.
July 2019
Does an Extended US-China Trade War Change the Strategic Investment Case for China?
No. While we do not expect the trade war to end after President Trump and President Xi meet this week at the G20 in Japan, we have not changed our view that investors should consider dedicated allocations to China broadly and A-shares in particular.
June 2019
Has the US-China Trade War Ensnarled the Euro Area?
The seemingly ever-expanding US-China trade war has undercut economic activity in the euro area, challenging earnings expectations and the bloc’s currency.
June 2019
Should Investors Allocate to Public or Private Chinese Investments?
Public and private Chinese equities both present attractive investment opportunities today.
May 2019
VantagePoint: Second Quarter 2019
We recently argued that investors should take a systematic and comprehensive approach to investing in China, overweighting Chinese assets relative to their index weights. This edition of VantagePoint addresses five key questions regarding implementation decisions.
April 2019
With Brexit Stress Peaking, Should Investors Tactically Increase Exposure to UK Equities?
No, we don’t believe the politics of Brexit are conducive to tactical asset allocation.
March 2019
The Case for Dedicated China Exposure
While we have advised a gradual approach to investing in China, today we believe that investors should take a systematic and comprehensive approach, overweighting Chinese assets relative to their index weights. Looking past the uncertainty and negativity, investors will find a large investment opportunity set, a robust universe of public and private managers, and appealing public equity valuations.
March 2019