Quick takes on capital markets

Knowledge

Short, timely insights on the latest global macroeconomic and investment trends impacting investors, and portfolios.

24 Jun 2022
Commercial real estate: Outpacing inflation
While an ever-increasing risk of recession has sent broad markets into disarray, private equity commercial real estate has been more resilient. The sector mix within the asset class will continue...
17 Jun 2022
Federal Reserve: Bringing the pain
For the first time since 1994, the Federal Reserve has raised policy rates by 75 basis points, a testament to extraordinary inflation challenges that are showing little sign of letting up. As...
10 Jun 2022
Municipal bonds: "Summer buying season"
A rough start to the year sent municipal bond yields rising nearly 250bps by mid-May, yet the asset class is beginning to show new signs of life. Muni yields should start peaking as we enter summer...
03 Jun 2022
U.S. dollar: Expect only modest depreciation
A bull run in the U.S. dollar has been both a cause and symptom of global risk-asset volatility in 2022. While the recent reversal in interest rate markets will constrain near-term U.S. dollar...
27 May 2022
Supply chains: Expect more disruptions
As COVID-19 lockdowns in China persist, so do increasing wait times at China’s ports. The longer that China’s zero-COVID policy disrupts global supply chains, the more likely that companies will...
20 May 2022
Credit markets: Feeling out the tremors
With economic growth concerns mounting, fixed income investors need to consider shifting from low to high quality credit. More attractive valuations and less upward pressure on bond yields should...
13 May 2022
Spring selloff: Markets lose their footing
The S&P 500 has registered six consecutive weekly losses for the first time in more than a decade, as growth concerns over the Federal Reserve’s aggressive monetary tightening schedule have...
06 May 2022
U.S. housing market: Resilient through rising mortgage rates
The extreme supply-demand imbalance should support demand for new homes even as rising mortgage rates impact affordability. The construction industry stands to benefit from this resilience,...
29 Apr 2022
Federal Reserve policy: Mending an inflation misread
After falling desperately behind the inflation curve, the Federal Reserve has finally recognized the urgent need to tighten policy. An incoming wave of policy rate hikes, coupled with balance sheet...
22 Apr 2022
China markets: A policy predicament
Recently, China’s COVID-19 situation has deteriorated, with rising case counts and increasing lockdowns. While the People’s Bank of China has tried to limit capital outflows, their monetary...
14 Apr 2022
March CPI: Inflation could be nearing its peak
After hitting another 40-year high, U.S. CPI inflation is likely near the peak, with stabilizing commodity prices and slower demand for durable goods. Nonetheless, the Fed will need to engineer a...
08 Apr 2022
Q1 recap: Markets stabilize despite ongoing Fed fears
Despite the tumultuous start to the year, markets are yet again displaying signs of resiliency to another correction. For investors, who are now adjusting to a faster pace of Fed tightening and...
24 Jun 2022
Commercial real estate: Outpacing inflation
While an ever-increasing risk of recession has sent broad markets into disarray, private equity commercial real estate has been more resilient. The sector mix within the asset class will continue...
17 Jun 2022
Federal Reserve: Bringing the pain
For the first time since 1994, the Federal Reserve has raised policy rates by 75 basis points, a testament to extraordinary inflation challenges that are showing little sign of letting up. As...
10 Jun 2022
Municipal bonds: "Summer buying season"
A rough start to the year sent municipal bond yields rising nearly 250bps by mid-May, yet the asset class is beginning to show new signs of life. Muni yields should start peaking as we enter summer...
03 Jun 2022
U.S. dollar: Expect only modest depreciation
A bull run in the U.S. dollar has been both a cause and symptom of global risk-asset volatility in 2022. While the recent reversal in interest rate markets will constrain near-term U.S. dollar...
27 May 2022
Supply chains: Expect more disruptions
As COVID-19 lockdowns in China persist, so do increasing wait times at China’s ports. The longer that China’s zero-COVID policy disrupts global supply chains, the more likely that companies will...
20 May 2022
Credit markets: Feeling out the tremors
With economic growth concerns mounting, fixed income investors need to consider shifting from low to high quality credit. More attractive valuations and less upward pressure on bond yields should...