Emerging Market Debt
Global Investment Forum
International and Global
Market and Economic
David Rosenblatt, CFA®
Emerging Markets Team: LGM
Multi-Asset Solutions Team
Responsible Investing team
Election uncertainty, while still elevated, has improved.
Global equities registered a disappointing performance in September, but the macro news confirmed the recovery was well underway and lost ground is being recovered relatively fast.
Many countries and regions are seeing a resurgence of COVID cases, bringing back mobility restrictions.
While the ebb and flow of the high-flying tech stocks is to be expected, some underlying trends are profoundly anchoring the longer-term outlook.
Finding an asset with positive expected return and low correlation to existing investments can strengthen a long-term portfolio outcome.
The economic recovery is about halfway through, but we already have a good idea of the lasting societal changes emerging from the pandemic.
While a vaccine might be on its way later this year, social distancing and mobility restrictions have inflicted severe pain on some sectors of the economy.
In line with our expectations, the Canadian housing market has held up despite the COVID shock.
Equity gains continued in July as bond yields slipped, though performance remains uneven across regions, sectors and factors.
Unlike previous recessions, the value of a U.S. used car has risen sharply this summer as our daily lives are profoundly impacted by social distancing and the sudden COVID-induced de-urbanization wave.
The earnings season kicked off last week and we are unsurprisingly seeing many firms facing steep contraction in revenues and earnings because of COVID.
The road ahead is unlikely to continue as smoothly, especially for the U.S. labour market as the May and June job gains represent only about a third of the jobs lost in March and April.
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