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
Quarterly Economic Insights - 2Q 2009 (509 KB) With apologies to Rod Serling, investors must have felt the past nine months was just another episode of his hit science fiction television show from the 1960s.	Jun 30 2009
Real Estate Capital Markets Insights - June 29, 2009 (449 KB) Home re-sales rose by 2.4% in May to an annual rate of 4.77 million according to the National Association of Realtors. The average sale price, while down from the year ago period was up from April.	Jun 29 2009
Market Insights - Sovereign Wealth Funds (97 KB) Why not a U.S. sovereign wealth fund? Randy Mundt, President and CIO of Principal Real Estate Investors, explores this possibility.	Apr 10 2009
Quarterly Economic Insights - 1Q 2009 (561 KB) It began with the worst of times. Driven by seeming delay, dithering and mixed policy messages coming out of Washington, stock markets around the world tanked in the first nine weeks of the first quarter.	Mar 31 2009
Behavioral Finance & Implications for Equity Investors (211 KB) At Principal Global Investors, we view the study of behavioral finance as one of the many ways we can improve our skill level and culture to enhance our investment process. Understanding behavioral finance is a way in which we as investors can protect the integrity of our investment process.	Feb 23 2009
Current Opportunities in Corporate & Structured Debt (529 KB) Recap the events leading up to the global financial crisis and see where opportunities currently exist in corporate and structured debt.	Jan 27 2009
2008: The Big Economic Chill & Its Impact on Investment Portfolios (523 KB) 2008 will vividly be remembered as one of the most dramatic years in the history of the financial markets. Recap how the events of 2008 played out and their impact on investment portfolios.	Jan 20 2009

Research	Published
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
Global ex-U.S. - Opportunities in CMBS (237 KB) Recap current CMBS market conditions and see our outlook for the future.	Apr 28 2009
Global ex-U.S. - Opportunities in Real Estate Private Debt (462 KB) For investors with long-term horizons, we believe the reasons for investing in real estate still remain valid. Review the current real estate private debt markets environment and see why we think now is a good time for investing.	Apr 21 2009
U.S. - Opportunities in CMBS (234 KB) Recap current CMBS market conditions and see our outlook for the future.	Apr 16 2009
U.S. - Opportunities in Real Estate Private Debt (461 KB) For investors with long-term horizons, we believe the reasons for investing in real estate still remain valid. Review the current real estate private debt markets environment and see why we think now is a good time for investing.	Apr 16 2009
U.S. Property Account Flash Report 1Q 2009 (214 KB) The decline in asset values continued within the U.S. Property Accountthroughout the first quarter of 2009, as prolonged recessionary pressure weighed on all sectors of the economy.	Apr 15 2009
U.S. - Case for Preferred Securities (262 KB) Investors continue to seek diversification while balancing a desire topreserve credit quality and maximize returns. Preferred securities offer an attractive solution for an increasing number of investors.	Apr 01 2009
Global - Case for Preferred Securities (219 KB) Often called hybrid securities, preferred investments may in many ways be more attractive to investorsthan either traditional equity or debt instruments. Preferred securities are generally one of the highest yielding investment grade securities.	Feb 27 2009
The Case for Currency Management (279 KB) During these times of unprecedented market turbulence, there are still areas of opportunity for investors. One of these is currency.	Feb 15 2009
U.S. Property Annual Report 2008 (1816 KB) More than a year into the credit crisis, the market has continued to experience multiple and increasingly severe aftershocks. The past year has been characterized by significant levels of government intervention in the capital markets and the economy in an attempt to restore market stability and investor confidence.	Dec 31 2008
Liability Driven Investments (LDI) White Paper (November 2006) (258 KB) The phrase "liability driven investments" is a general term that encompasses a broad range of investment strategies that explicitly reference the liabilities of a plan sponsor. In a gross sense, assets areconfigured, to some degree, with an eye to matching some of the cash-flow and risk characteristics of the plan liabilities. The prime objective of liability driven investment schemes is to reduce the mismatch between the duration, or interest rate sensitivity, of plan liabilities relative to plan assets.	Oct 09 2008
Currency Overlay, Pension Week, September 2008 (115 KB) Establishing a proactive and strategic currency overlay programme can assist pension funds in capturing major currency market turning points.	Sep 30 2008
Currency: In a class of its own, Pension News, July 2008 (34 KB) Over the last decade, currency management has shifted from being viewed as a source of risk to a source of sustainable and uncorrelated returns. As a result, pension funds are considering currency as an asset class in its own right.	Jul 31 2008
Going Green Brag Sheet (July 2008) (174 KB) Principal Real Estate Investors recently brought home the "Green Giant of the Year" award on June 5, 2008. Principal Real Estate Investors was selected by peers within the real estate industry based on their pipeline of more than $1 billion of green properties.	Jul 31 2008