For financial professionals in the UK

Global Perspectives

Market GPS Investment Outlook 2021

What should be on the radar for investors in 2021? Market GPS helps direction-set with a video summary, in-depth asset class analysis and our latest portfolio manager views.

Equity Perspectives

Quarterly insight from our equity teams to help clients navigate the markets and opportunities ahead.

Fixed Income Perspectives

Quarterly insight from our fixed income teams to help clients navigate the risks and opportunities ahead.

Global Dividend Index

The first of its kind, quarterly, long-term study into global dividend trends.

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Tempering expectations

Tempering expectations

While record-setting prices for riskier assets hint at better days ahead, Portfolio Manager Nick Maroutsos believes that a complete exit from the pandemic may take longer than expected, justifying continued monetary and fiscal hyper-accommodation.

A blue wave or a blue swell?

A blue wave or a blue swell?

With a Senate majority, Democrats will have an easier time of achieving their agenda. But it won’t occur without compromise, creating optimism in markets.

Inflation: is this the real thing? Is this just fantasy?…

Inflation: is this the real thing? Is this just fantasy?…

John Pattullo, Co-Head of Strategic Fixed Income, explains why an expected and predictable cyclical reflation should not be confused with a longer-term structural breakout of inflation.

Fed watch: hardly a stoic Fed
Quick Views Interest rates

Fed watch: hardly a stoic Fed

The US Federal Reserve declined to expand accommodative policy measures, but Nick Maroutsos, Head of Global Bonds, believes the decision does not suggest the central bank is backing off from supporting the economic recovery.

Global bonds in 2021: better but still bumpy

Global bonds in 2021: better but still bumpy

Portfolio Manager Nick Maroutsos explains why bond investors should be cautiously optimistic as we enter 2021.

Low rates versus US election: what matters for fixed income?

Low rates versus US election: what matters for fixed income?

Jim Cielinski, Global Head of Fixed Income, believes central bank policy is likely to be the dominant influence on fixed income markets, regardless of who wins the US election.

The end of an era: emerging markets prepare for a post-globalisation world

The end of an era: emerging markets prepare for a post-globalisation world

Portfolio Manager Daniel Graña explains that in light of the retreat from further global economic integration, reformist policies and value-added services are likely to become future drivers of emerging market growth and investment returns.

The case for asset-backed securities (ABS)

The case for asset-backed securities (ABS)

ABS is an attractive and yet under-utilised asset class with a number of differentiating features. The following paper provides a brief examination of this specialist asset class, outlining the case for its appeal as an investment.

The Fed’s new policy, inflation and its implications for U.S. bonds

The Fed’s new policy, inflation and its implications for U.S. bonds

Greg Wilensky and Michael Keough discuss their outlook for U.S. inflation after the U.S. Federal Reserve’s policy change, and its impact on U.S. bond markets.

A letter to the Fed from a concerned friend

A letter to the Fed from a concerned friend

Head of Global Bonds Nick Maroutsos expresses concern that monetary policy focused on financial markets will do little to ignite the growth needed for the economy to recover from recent weakness.

A superfluous tweak to the Fed’s mandate

A superfluous tweak to the Fed’s mandate

Nick Maroutsos, Co-Head of Global Bonds, believes that despite a shift in policy, the US Federal Reserve will likely not have to worry about watching inflation climb above its target of averaging 2% over the long term.

RBA to markets: “We are still here”

RBA to markets: “We are still here”

Portfolio Manager Dan Siluk explains that, despite economic conditions appearing to stabilise throughout much of Australia, the Reserve Bank of Australia felt compelled to recommence bond purchases to establish its credibility with respect to its yield curve control programme.