Global Investment Outlook: June 2021
A Pause for Breath?
U.S. equity markets meandered sideways for a month before ignoring more eye-watering inflation data and pushing on to new highs. Most market participants appear to be siding with the Fed and believe recent inflation increases are 'transitory'.
This month's selection of global investment outlook papers features several that cover the prospects for real estate assets in a post-pandemic era, while the IEA’s annual World Energy Investment report offers its forecasts on oil demand and supply in a recovering global economy. We have also included a podcast from financial commentator Jim Rogers where he discusses commodity supercycles and the outlook for Middle Eastern economies.
2021 Real Estate Global Outlook: A crisis brings opportunity (PGIM Real Estate)
In this outlook paper, PGIM Real Estate outlines an optimistic stance for global real estate. It identifies several outstanding opportunities that look attractive for the next year on a risk-adjusted basis.
Global Investment Views – Jun 2021 (Amundi)
For compliance reasons, this paper is NOT accessible in the United States
Amundi investigates the hot topic of inflation, noting that there are two trains of thought. The first, favoured by the Fed, believes that inflation will be transitory, while the other believes that there are structural elements which will drive inflation materially higher.
World Energy Investment Report (IEA, 2021)
The 2021 edition of the International Energy Agency’s annual report offers insightful commentary into energy consumption and the potential risks and opportunities for investors. It also provides an outlook for the rest of the year.
Real Estate Outlook: Navigating the road to recovery (M&G Investments, 2021)
For compliance reasons, this paper is only accessible in certain geographies
M&G‘s Real Estate outlook paper highlights a potential roadmap towards recovery. It notes the key indicators investors need to be aware of.
Webinar: Global emerging markets outlook (Federated Hermes, May 2021)
For compliance reasons, this paper is NOT accessible in the United States
Kunjal Gala, Lead Portfolio Manager, and James Cook, Head of Investment Specialists, discuss the outlook for emerging markets from both a market and portfolio perspective.
Webinar: Reopening, recovery, spending and inflation (RBC GAM, Jun 2021)
For compliance reasons, this paper is only accessible in the United States and Canada
In this webinar, RBC GAM Chief Economist Eric Lascelles examines recent inflation data, online shopping habits, and global corporate tax plans.
Global Fixed Income Strategy (Invesco, May 2021)
For compliance reasons, this paper is only accessible in certain geographies
Invesco focuses on the U.S. labour market and how it acts as a key determinant in the timing of inflation and interest rate moves.
Webinar: Middle East economic outlook (Moody's Analytics, May 2021)
Moody’s Analytics discusses the macroeconomic outlook for the Middle East, given its dependence on the oil price, and the fiscal strain exerted on these countries.
Real Estate Outlook – Edition 2 (UBS AM, Jun 2021)
UBS Asset Management highlights how real estate has performed in periods of inflation but cautions that raising rates too fast is likely to hit the economy and occupancy demand.
Podcast: Crazy commodity cycles with Jim Rogers (RCM Alternatives, 2021)
Jim Rogers is an American investor and financial commentator. In this episode, he discusses commodity supercycles, the global debt reset, and more.
Q2 Capital Market Assumptions (QMA, May 2021)
QMA presents its updated long-term forecasts based on strong market moves in several asset classes during Q1.
Macro Perspectives: Growth, rates and inflation (Franklin Templeton, May 2021)
For compliance reasons, this paper is only accessible in the EMEA region
This Franklin Templeton paper outlines macroeconomic views from across its investment teams. It finds some discord in opinions on the pace of economic growth and inflation in 2022 and beyond.
