This is the time of the year when strategists are busy sending out their annual outlooks. Here on the Global Investment Strategy team, we decided to go one step further. Rather than pontificating about what could happen in 2025, we…
Our US equity strategists just published their annual outlook, where they discuss the environment and rotation they foresee in 2025, which is more bullish than our House View. Our colleagues see Trump 2.0 policies…
Investors have given up on European assets, which now suffer exceptional discounts to US ones. However, tighter US fiscal policy, the end of Europe’s austerity and deleveraging, the LNG Tsunami about to hit European shores, and the…
November trading was centered around the US election and its aftermath. US assets led the way, with US equities significantly outperforming their global counterparts. The US dollar strengthened considerably against both DM and EM…
The post-COVID recovery has been one of excesses. Government deficits have ballooned, tight labor markets have led to a windfall of consumer spending, and equity valuations have soared on the back of lofty growth expectations. But…
Our 2025 Outlook was just published. We revisit this year’s calls and discuss what we think is ahead for the global economy and markets for the next 12 months and beyond. The recent US election has significantly shifted…
Housing activity data missed expectations and decreased in October. Building permits came out at 1.416m vs. 1.428m in September, and housing starts decreased from 1.354m in September to 1.311m. Units under construction keep…
Our Global Asset Allocation team analyzed the performance and allocation strategies of 79 US public pension funds, providing insights across governance, scale, and liquidity. Strategic Asset Allocation (SAA) is the most…
The October US jobs report had mixed signals and was skewed by hurricanes and industrial strikes. Unemployment met expectations by staying unchanged at 4.1%, although it rose nearly 0.1 percentage point on an unrounded basis.…