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Global Investment Strategy Q2 2018

A Few New Q2s to Review

A chartbook to view, an outlook or two, and thoughts on why EMD just might ring true. Add a few Q2s to your to-do's and click on through.

Savvy Investor

Q2 2018 Global Investment Outlook (BlackRock)
BlackRock explains that the overall outlook for risk assets is positive for 2018, although likely with higher volatility and lower returns than market participants realized in 2017. 

Opportunities in EM Local Currency Bonds (Franklin Templeton)
(For compliance reasons, this paper is only accessible in the EMEA region)
Whether for diversification, or reducing US interest-rate risk on EM USD bonds, or for a host of other reasons, demand for EM local currency bonds has increased. Franklin Templeton discusses the EM local currency debt market outlook.

Technology Sector Remains Attractive Despite Recent Steep Decline (Capital Group, Apr 2018)
(For compliance reasons, this paper is only accessible in certain geographies)
Capital Group examines the technology sector, and specifically FAANG stocks, given the recent data protection-related issues and other regulatory concerns that have arisen, in order to formulate an outlook for the sector as a whole.

Winds of change blow through the U.S. utilities sector (Hermes IM, Apr 2018)
Hermes reports on the U.S. utilities sector, which is undergoing transformation amid a state-wide push towards a low-carbon economy and increasing pressure on big energy companies to “go green”. 

Q2 2018 Outlook & Review (QMA)
QMA's forecast for 2018 is relatively bullish, due to a healthy global economy, but with an element of caution sprinkled in, as we wait to see whether the recent front of trade tensions materializes into anything significant.

Q2 2018 CIO View: Will rates unrattle equity markets? (DWS AM)
(For compliance reasons, this paper is only accessible in the UK)
Investors who bought into the recent market dip are now significantly ahead, but the current bull market is already 9 years long - how many more times will this friendly bull rear its head and continue to charge along?

Q2 Podcast: Cash Market Commentary (State Street Global Advisors)
State Street experts discuss the market’s perception of inflation and the reality of recent inflation data, the supply of US treasuries, and short-term debt demand.

Q2 2018 Outlook: Will the Roar of Market Tensions Tame Global Growth? (Franklin Templeton)
(For compliance reasons, this paper is only accessible in the EMEA region)
Could the current 9-year bull market be coming to an end, or will macroeconomic forces remain supportive of equities? Franklin Templeton discusses Q1 market turbulence and the risks on the horizon for the remainder of 2018.

Q2 2018 Investment Outlook: Choppier waters ahead (Fidelity Intl)
(For compliance reasons, this paper is only accessible in the UK & Europe)
In Fidelity's Q2 Investment Outlook, they explain why we may be at the end of the current economic cycle, as well as the impact of an increasingly volatile environment on security selection and risk management.

Global Macro Outlook (AB, May 2018)
(For compliance reasons, this paper is only accessible in North America and South America)
Just how long will the 'Goldilocks' economy last for? Recent trade tensions have roiled investors and increased volatility, but is this a fleeting moment of concern or a harbinger of what's to come? 

Monthly Market Monitor (Eaton Vance, May 2018)
Eaton Vance's Monthly Market Monitor is a chartbook presenting a comprehensive review of economic data and asset class performance analytics. 

Intech Equity Market Stress Monitor, May 2018
(For compliance reasons, this paper is only accessible in certain geographies)
The Equity Market Stress Monitor from Intech discusses varying aspects of the Q1 2018 spike in volatility, in conjunction with risk metrics that indicate stress within the equity market. 

Tokyo 2020: The Olympic effect on Japan equity investors (Capital Group, Apr 2018)
(For compliance reasons, this paper is only accessible in certain geographies)
Will Tokyo’s 2020 Olympics mark a turning point for Japan? Investment Specialist Akira Fuse shares her analysis on the potential impact that the Games might have, and the resulting implications.

IQ Magazine: Life After Easy Money (SSGA)
This issue of Investment Quarterly magazine from State Street Global Advisors contains sections on inflation risk, intangibles, the politics of trade, and additional implications of the US tax cuts.

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