Global Perspectives

Global Fixed Income Compass

Les équipes en charge de la gestion obligataire chez Janus Henderson nous livrent leurs analyses des principaux facteurs influençant les marchés, en vue d’aider les clients à traverser le trimestre à venir.

Market GPS Perspectives D’Investissement 2020

Quels sont les problèmes les plus urgents auxquels sont confrontés les investisseurs à l'échelle mondiale ? Nos responsables de classes d'actifs partagent leurs vues sur les thèmes à surveiller pour l'année à venir dans les domaines des actions, des obligations et des investissements alternatifs.

Global Snapshot

The Janus Henderson Global Snapshot explores the themes driving markets, the trends to watch, market returns and metrics, and the Multi-Asset Team’s outlook for regions and sectors at quarter end.

Global Dividend Index

Le JHGDI est une étude à long terme qui vise à dégager les tendances en matière de dividendes au niveau mondial.

ANALYSES

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UK economic weakness masked by government spending surge
Perspectives mondiales

UK economic weakness masked by government spending surge

UK GDP grew by a slightly firmer than expected 1.4% in 2019 as a whole but the expenditure breakdown gives little cause for celebration.

OECD leading indicators: fade the pick-up
Perspectives mondiales

OECD leading indicators: fade the pick-up

The OECD’s leading indicators continued to recover in December but the signal should be discounted.

Has the virus shock improved monetary prospects?

Has the virus shock improved monetary prospects?

The global manufacturing PMI new orders index reached a 13-month high in January but narrow money trends suggested that it was on course to peak around April and relapse into mid-year.

Chinese PMI softening before virus hit

Chinese PMI softening before virus hit

Chinese recovery hopes were boosted by a rise in the Markit manufacturing PMI to a 35-month high in November.

Is US monetary strength reversing?
Perspectives mondiales

Is US monetary strength reversing?

US money growth, on a range of measures, picked up significantly during H2 2019.

UK employment rise no obstacle to rate cut
Perspectives mondiales

UK employment rise no obstacle to rate cut

UK rate cut sceptics argue that a rise of 135.000, or 0.5%, in the number of employees in the three months to November from the prior three months signals a strong labour market and will give MPC doves a reason to climb down.

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Chinese firms less downbeat on credit conditions

A fall in Chinese money growth during H2 2019, especially in real terms, suggests that the economy will remain weak through H1 2020.

Early 2020 money data key for global outlook

Six-month growth of global (i.e. G7 plus E7) real narrow money is estimated to have been unchanged at 2.4% (not annualised) in December, based on monetary data covering 70% of the aggregate and near-complete CPI inflation data.

Chinese nominal GDP confusion: slowdown confirmed

Chinese nominal GDP confusion: slowdown confirmed

The Chinese GDP numbers released on Friday appeared to show a strong pick-up in nominal growth in Q4.

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Is China recovering?

Is China recovering?

Chinese official activity data for December mostly surprised positively, echoing an earlier PMI revival.

UK inflation slump piles pressure on tardy MPC
Perspectives mondiales

UK inflation slump piles pressure on tardy MPC

The forecast here a year ago was that the MPC would cut Bank rate to 0.5% during 2019.

A « monetarist » perspective on current equity markets
Perspectives mondiales

A « monetarist » perspective on current equity markets

The baseline scenario in our previous quarterly commentary was that global economic momentum, having bottomed in Q3 2019, would remain weak in early 2020 before strengthening towards mid-year.