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.
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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.
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.
Head of Global Bonds Nick Maroutsos describes the Fed decision in July to hold rates steady as a non-event given that the central bank, through its actions, has already proven its willingness to do whatever it takes to support the US economy during this unprecedented period.
John Pattullo, Co-Head of Strategic Fixed Income, shares his views on the most frequently asked question by clients these days: “what about inflation?”
Co-Head of Global Bonds Nick Maroutsos gives the US Federal Reserve high marks for ensuring properly functioning financial markets but believes that work still needs to be done to support households and small businesses most vulnerable to the economic disruptions caused by the COVID-19 pandemic.
Co-Head of Global Bonds Nick Maroutsos states that even without negative interest rates, bond portfolios must work harder to achieve desired results.
Oliver Blackbourn, Portfolio Manager on the UK-based Multi-Asset Team, responds to the MPC’s dovish view on prospects for the UK economy, although risks remain skewed to the downside.
Why financial markets should ultimately be focused on the outlook for households in consumption driven economies like the US.
John Pattullo, Co-Head of Strategic Fixed Income, believes that over the last month corporate bond spreads have gone from scary cheap to just ‘kind of cheap’ now. As the dust settles in the markets, he remains optimistic that there are opportunities to be had going forwards.
John Kerschner, Head of US Securitized Products and Nick Childs, Portfolio Manager and Securitized Products Analyst, discuss the changes that the past month has brought to the US mortgage market and explain why they believe the asset class is well positioned to see stronger returns in the months ahead.
Jenna Barnard, Co-Head of Strategic Fixed Income, remarks on the significant rally in credit markets over the last week, with healthy investment grade issuance volumes and even the US high yield market open for new issues. Support from the authorities trying to help companies avoid default has accelerated the sharp market recovery.
John Pattullo, Co-Head of Strategic Fixed Income, provides a brief update on the team’s current thoughts on the markets and the opportunities they see going forward, while explaining the reasons for their optimism.