Market Returns
Highlights Chart of the WeekIncreasing Gas-On-Gas Pricing Will Disrupt Global LNG Markets
U.S. Set To Disrupt Global LNG Market…
Highlights Value is the most storied of all the factors discovered by academicians, and some of the most revered investors of all time have been those most closely associated with value investing. Over the nearly 92 years covered by Fama and French's data set, stocks with the highest book-to-…
Highlights Chart 1Second Half Rebound
Second Half Rebound…
Highlights Q3/2018 Performance Breakdown: The Global Fixed Income Strategy (GFIS) recommended model bond portfolio outperformed its custom benchmark in the third quarter of 2018 by +9bps. This raised the overall 2018 year-to-date performance to +6bps. Winners & Losers: The outperformance…
Feature GAA DM Equity Country Allocation Model Update The GAA DM Equity Country Allocation model is updated as of September 30, 2018. The quant model has not made significant allocation changes as shown in Table 1. As shown in Table 2 and Charts 1, 2 and 3, the overall model underperformed its…
Per the most commonly referenced growth and value indexes, growth has been outperforming value for over 11 years, the longest stretch in the history of the series. Growth's extended winning streak has split investors into two camps: those who believe that value is finished because of…
Dear Client, This week, we are sending you a Special Report written by my colleague Juan Correa on the topic of carry trades. In this report, Juan builds on our previous work on the subject. He analyses the role of interest rates, spot fluctuations, and volatility in determining the risk…
Highlights The presidential race between Haddad and Bolsorano will be very tight. At present, we put slightly higher odds on Haddad winning by a small margin in the second round. A Haddad victory would lead to a continuation of stress in financial markets. The prospects of Lula's release and…
Highlights Investors have piled into private equity (PE) in recent years, pushing assets under management (AUM) up to an all-time high of $3 trillion. However, there are increasing concerns about the outlook for the asset class over the next few years. In this report, we look at the…
Highlights Portfolio Strategy The firming long-term housing demand backdrop, lumber price cost relief, steady new home prices and favorable new home sales expectations, all signal that it is time to buy homebuilders. On the flip side, we do not want to overstay our welcome in the S&P home…