Equity markets have remained relatively resilient year-to-date, despite investors facing multiple headwinds. In this month’s video, Investment Director, Ritu Vohora takes a look back at the factors that characterised the landscape in 2019, and also… Read the article
The Fed delivered its much anticipated interest rate cut at the end of July. In this month’s video, Investment Director, Ritu Vohora looks at the implications for the US dollar. Could the US Treasury resort… Read the article
While bonds appear to be signalling an economic slowdown, equities are suggesting growth will continue. In this month’s video Investment Director, Ritu Vohora looks at the conundrum facing investors, with mixed messages emanating from bond… Read the article
In this month’s video, Investment Director, Ritu Vohora looks at the escalating trade war between the US and China, with tensions reducing risk appetite and intensifying fears of a global economic slowdown.
‘Sell in May… Read the article
In this month’s video, Investment Director, Ritu Vohora looks at the recent ‘buyback wave’ fuelled by corporate tax cuts. Do share buybacks only benefit company executives or do they also create long-term value for shareholders?
… Read the articleThis March marks the 10-year anniversary of the longest bull market in history that has been ploughing on in the US since early March 2009. The S&P 500 Index has delivered a staggering 400% in… Read the article
In this month’s video, Investment Director, Ritu Vohora, looks at the Fed’s dramatic shift to a more dovish stance, with an emphasis on patience. The Fed’s pause was welcomed by investors in January and is… Read the article
Where’s big spender?
As Americans head to the polls today, all eyes will be on the US midterms. Consensus has Democrats taking the House and Republicans keeping the Senate, but elections in recent years have been notable for… Read the article
China: Newsroom doom and gloom
It seems you can’t open a newspaper without reading another negative headline about China. Most ‘western’ financial journalists love to write about trade wars, currency manipulation, shadow banking and mounting debt, the narrative being that… Read the article
In this month’s video, Investment Director, Ritu Vohora looks at the sharp divergence in equity markets. Are we at an inflection point?
Global equity markets sit at an important juncture. They have diverged sharply this… Watch the video
Earnings disappointments from the likes of Facebook has sparked concerns whether the stupendous growth of tech stocks can continue. After a decade wins, are the FAANGs losing their bite? In this month’s update, Ritu Vohora, Investment Director… Watch the video
In this month’s update Ritu Vohora, Investment Director, reflects on the Q1 earnings season. It’s been exceptional so far, at least compared to expectations. Are we at ‘peak… Watch the video
Do you know your odds?
This Saturday (April 14th) sees the 175th running of the Grand National, the most famous jump race in the world. With thrills and spills throughout its 4-mile, 4-furlong length, the Grand National is something of… Read the article
In this month’s update Ritu Vohora, Investment Director, looks at the threat of trade protectionism on global… Watch the video
Facebook – House of Cards?
Stories in the media about fake news, Russian trolls, secretive organisations like Cambridge Analytica improperly using personal data to influence political elections – it all sounds like something out of an episode of House of… Read the article
Water, water everywhere?
Today (March 22nd) is World Water Day which aims to focus attention on the importance of water not only in our daily lives, but also for the sustainable development of the global economy.… Read the article
In this month’s update Ritu Vohora, Investment Director, looks at the implications for US tax reform on equities. How much is priced in already and will the new fiscal stimulus provide a boost to US… Watch the video
For the first few years after the 2008 financial crisis, I often only had one slide with me at presentations and this was it:
The chart shows the trend line since 1849 of… Read the article
Cents and Sensibility – implications of Trump presidency for the healthcare sector
Don’t let the initial market enthusiasm to Trump’s victory in the US Presidential election detract from the longer-term themes investors in the healthcare sector need to consider and the limited visibility we have over how… Read the article
With Republican candidate Donald Trump winning the race to the White House, populist sentiment and anti-establishment feelings are making their presence felt at the ballot box.
Investment Director, Ritu Vohora provides an update on the… Watch the video
As the presidential race enters the final lap, rhetoric around political drug pricing remains high and the pharmaceutical and biotech sectors are lagging the broader market year-to-date. However, in my opinion, US political drug pricing… Read the article
In the US, the clock is ticking down to November’s presidential election . . . the shock Brexit result in the UK demonstrated how voters can catch the markets unaware.
In the latest of… Watch the video
US banks have come a long way
You wouldn’t necessarily know it, but late last month (June 2016) the Federal Reserve released the results of one of the major stress tests performed on the US banking system.
Apart from a few banking… Read the article
Is the healthcare sector really cheaper than consumer staples?
Superficially, the healthcare sector in Europe looks attractively valued relative to consumer staples, but on a cashflow basis the relative valuation argument disappears. This may reflect more aggressive earnings adjustments in European healthcare.
In the… Read the article
Share prices in the US retail sector have declined by around 7% on average since the beginning of May compared with an advance of 1.4% for the S&P 500 (see following table). Some commentators have… Read the article
Are US consumers finally starting to spend their oil windfall?
When the oil price began its steep descent in autumn 2014 it was heralded as the equivalent of a tax cut for the US consumer. Estimates suggested that cheaper gasoline would add an extra US$1,500… Read the article
Takeaways from US Healthcare Conference: key focus – drug pricing in the US
I was recently in San Francisco attending the biggest US healthcare investor conference and there’s little doubt that the level of innovation in the pharma and biotech industries remains very high. Many new therapies are… Read the article
Obamacare is revolutionising healthcare in the United States – the single most important market for healthcare companies in the world. This has profound implications for the outlook for these companies and as a consequence how… Read the article
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OKWelcome to the M&G Multi Asset Team’s Allocation blog, previously known as the Episode blog. We have changed the name of our blog to resonate better with our readers in Europe, however, the content and purpose of the blog has not changed. The Allocation blog continues to aim to provide unique market perspectives from our dedicated team of experienced asset allocators.
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