Principal Global Investors publishes a number of timely newsletters and research reports that discuss the impact of economic, political and investment trends on stocks, bonds and real estate investments. These publications are written by our in-house investment experts, including our chief global economist, Bob Baur. Here you can find regular Economic Insights and Real Estate Insights newsletters, as well as quarterly and annual real estate reports. Our knowledge center includes the popular “Case For” series on specific asset types, as well as other thought capital.

Economic and Market Commentary	Published
2010 Bond Market Analysis: What should investors expect from corporate credit? (49 KB) The unprecedented gains investors captured in credit markets during 2009 were a once-in-a-generation opportunity and will not be repeated in 2010. However, we believe plenty of opportunities remain for discerning investors.	Mar 09 2010
Real Estate Capital Markets Insights - March 8, 2010 (188 KB) The U.S. Bureau of Labor Statistics reported that payroll employment declined by 36,000 jobs in February, slightly beating the market’s expectations.	Mar 08 2010
Weekly Economic Insights - March 1-5, 2010 (153 KB) If the word for 2009 was synchronized (as in downturn, recovery and market rally), the word for 2010 would be divergence: in both economies and investments. In contrast to the Euro area where the recovery to date has been hesitant, other developed nations are enjoying robust growth and a substantial rebound from recession.	Mar 01 2010
Monthly Economic Insights - February 2010 (219 KB) We expect the nascent recovery to transition to a sustainable economic expansion. And the upward revision to the already-strong fourth quarter GDP report shows the U.S. economy is on track for decent growth in both 2010 and 2011.	Feb 28 2010
The Road Ahead for U.S. Commercial Real Estate (127 KB) The severity of the global credit crisis and recession that marked the end of the initial decade of the new millennium was of truly historic proportions. Global GDP, U.S. GDP, global trade and U.S. payroll employment each suffered their largest contraction in the post-war era. But as the global economy prepares to turn the chapter to the new decade, there are clear signs of a turning point.	Feb 23 2010
Through the Looking Glass (332 KB) A look back on 2009 and our outlook for 2010.	Jan 21 2010
Quarterly Economic Insights - 4Q 2009 (314 KB) In 2009, probably no other issue epitomized the pain of the recession, symbolized the difficulty consumers faced or crystallizes the risks of the nascent recovery as the level of unemployment.	Dec 31 2009
Repricing, Rebalancing & Recovery: A New Era for Real Estate (9476 KB) Discussion of the improving state of the global economy and credit markets as the new decade begins, as well as the trajectory of the U.S. recovery and the outlook for the commercial real estate space and capital markets.	Dec 31 2009
Almost Armageddon, 2009 (153 KB) Contrary to strongly held beliefs and widespread headlines, the fi nancial crisis was not caused by greedy bankers, Alan Greenspan or spendthrift consumers. The real story is that economic imbalances began to build on a world scale during the two or three decade advance of globalization.	Nov 09 2009

Research	Published
Opportunities in U.S. Mid-Cap Equities (324 KB) Mid-cap companies typically combine the higher growth characteristics of small-cap companies, with the strength and stability generally offered by large-cap companies. Most mid-cap stocks are often overlooked, yet the mid-cap equity universe offers a rich selection of companies combining the finest aspects of growth, value, quality and liquidity. Thus in our view, mid-cap stocks offer an excellent balance between strong growth and a demonstrable history of management success.	Feb 19 2010
Investing in High Yield Bonds (257 KB) Striking a balance between yield and risk is always a concern for investors. The key question is, are they being paid for the risks they are taking?	Jan 21 2010
Real Estate Insights - Fourth Quarter 2009 (376 KB) While equity and bond markets continued to see gains in the fourth quarter of 2009, the same is only partially true for commercial real estate.	Dec 31 2009
U.S. Property Account 2009 Annual Report (6179 KB) The Principal U.S. Property Account experienced an extremely challenging year in 2009, facing headwinds from a global financial crisis, a severe U.S. recession that resulted in over 7 million job losses and volatile capital markets that sharply reduced debt and equity transaction volume across the real estate asset class.	Dec 31 2009
U.S. Property Account Flash Report 4Q 2009 (298 KB) The fourth quarter of 2009 brought with it the conclusion of a tumultuous year for commercial real estate characterized by asset value depreciation, deteriorating space market fundamentals and depressed levels of investor demand for the asset class.	Dec 31 2009
Opportunities in Real Estate Equity (503 KB) While the current U.S. economic recession has resulted in decreasing commercial real estate values and weak space market fundamentals, now may be the time for the nimble investor to begin acquiring private equity real estate assets.	Nov 12 2009
Opportunities in Emerging Markets (490 KB) Emerging markets represent over 85% of the world’s population and more than 30% of global economic output. What is notable about many emerging economies has been their ability to bounce back from the devastation of the financial crisis and do so quickly. Not only are they coming out of the crisis more quickly than their developed market counterparts, they are doing so with much healthier economies. Certain emerging countries are projected to become among the world’s largest economies in the decades ahead, with China and India being the most prominent.	Oct 01 2009
Asset Allocation (146 KB) Signs of a synchronized global recovery continue to getstronger, but the strength of this recovery is uneven. At Principal Global Investors, we view asset allocation primarily as a risk management exercise.	Sep 30 2009
U.S. Property Account 3Q 2009 Report (4683 KB) The Principal U.S. Property Account finished the quarter with a total return of -8.45%. Income contributed1.49%, while depreciation, which persisted at a more moderate pace during the quarter, totaled -9.94%.	Sep 30 2009
The Future of Investment: The Next Move - Executive Summary (195 KB) An executive summary of an independent study from CREATE-Research issued in June 2009, commissioned by Citi’s Global Transaction Services and Principal Global Investors.	Sep 24 2009
The Future of Investment: The Next Move? (2736 KB) An independent study from CREATE-Research issued in June 2009, commissioned by Citi’s Global Transaction Services and Principal Global Investors (Principal), has found that asset managers worldwide are divided over the future of their industry post credit crisis. The report entitled "Future of Investment: the next move?", is based on a survey of 225 asset managers from 30 countries, responsible for a total of $18.2 trillion of assets . The report found that respondents anticipate that increased regulation will raise costs, intensify competition, create fee compression and hasten mergers and demergers.	Sep 24 2009
Opportunities in U.S. High Yield (710 KB) High yield securities have performed exceptionally well over the past few months, staging their biggest gains ever in the second quarter. At this juncture, investors who have been waiting on the sidelines may be asking themselves if they missed the boat and if it is too late to invest in high yield securities?	Sep 17 2009
Opportunities in Investment Grade Corporate Bonds (76 KB) In an environment of prolonged uncertainty in the economy and volatility in the stock market, investors are likely to opt for the relative safety and more reliable returns offered by investment grade corporate bonds.	Aug 27 2009
Opportunities in Global Property Securities (806 KB) We believe global property securities present a compelling opportunity for those investors who have a long-term investment horizon.	Aug 26 2009
The Profits of Carry (408 KB) The carry trade has come under sustained pressure during the recent period of increased volatility. Ivan Petej, Director, Portfolio Construction and Quantitative Research Strategist, Macro Currency Group, analyses the source of returns on carry trade strategies and assesses its likely profitability in the current environment.	May 20 2009