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Global Investment Outlook for April 2018

  • Posted by: ,  Chief Executive
  • 10 April 2018
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Economic and Market Outlook for Q2 2018

This month's list of investment outlook-related papers is fairly broad in nature and includes comprehensive chartbooks, Q2 2018 quarterlies, and sector outlooks, as well as a few thematic pieces on protectionism, demographic concerns, and Russian geopolitics.

Savvy Investor

Monthly Market Monitor (Eaton Vance, Apr 2018)
(For compliance reasons, this paper is only available in the USA and Canada)
As investors forge ahead into Q2, Eaton Vance presents their Monthly Market Monitor document - a helpful chartbook that delves deep into the performance characteristics of each asset class through the end of March 2018.

2018 Global Market Outlook - Q2 Update (Russell Investments)
(For compliance reasons, this paper is only available in the EMEA region)
Globally, the combined tailwinds of growth momentum, strong corporate earnings, and fiscal easing are currently greater than the headwinds due of potential inflation and tighter monetary policy, but be careful not to ‘throw caution to the wind’ in 2018.

A Silver Lining - Investment Implications of an Aging World (PGIM, 2018)
(For compliance reasons, this paper is only available in the USA)
Institutional investors should not underestimate the opportunities created by an aging global population and how this megatrend could affect portfolios.

Economic Outlook Q2 2018: Questioning Goldilocks… (Hermes IM, Mar 2018)
Which one of the 'bear' risks should be feared the most, as 'Goldilocks' wakes up from a peaceful slumber - US monetary tightening and the effect of rising bond yields, or the onset of volatility and the potential for external shocks?

Volatility rocks the boat, but is there still wind in the market's sails? (Wellington, Apr 2018)
Wellington examines recent market volatility and the onset of rate hikes, with insight into the extent to which these forces affect the current economic cycle and whether a reduction in portfolio risk is warranted.

Investors find shelter in emerging markets (NNIP, Apr 2018)
(For compliance reasons, this paper is only available in selected geographies)
Positive growth dynamics in EM domestic demand outside of China and the still easy financial conditions in EM bode well for the sustainability of the EM domestic demand growth recovery.

Actively Benefiting from Emerging-Market Small Caps (Franklin Templeton, 2018)
(For compliance reasons, this paper is only available in the EMEA region)
Franklin Templeton suggests EM small-cap equities in the current market environment as a potential sweet spot, as long as active managers debunk certain common misconceptions held related to the asset class.

JP Morgan Quarterly Guide To The Markets - Q2 2018
The latest JP Morgan quarterly "Guide to the Markets" is a bumper 80-page report, packed with charts and tables, illustrating global economic trends, and examining the key drivers of equity and fixed income markets for the period ahead.

Global Investment Outlook Q2 2018 (BlackRock)
BlackRock sees the current environment as positive for risk assets, despite likely muted returns and greater volatility than in previous years. Both trade wars and yield spikes pose risks to the global economic expansion.

Navigating Protectionism: The elevator and the staircase (BNP Paribas AM, 2018)
Protectionism in China and the USA has led to another round of volatility for global markets. An all-out trade war would be the worst possible outcome. BNP Paribas presents two risk scenarios and a road map to navigating them.

Loan markets merits optimism and caution for 2018 (Eaton Vance)
(For compliance reasons, this paper is not available in the USA or Canada)
In this Q&A, the Eaton Vance floating-rate team offers their perspective on the market for the fourth quarter of 2017 and what may be ahead for 2018.

Global Real Assets Outlook: Adapting to a dynamic investment environment (BlackRock, 2018)
This BlackRock report takes a dive into the world of real assets. The asset class has seen some of the strongest allocation growth of all asset classes in recent years.

2018 Global Real Estate Market Outlook (CBRE)
CBRE's industry outlook report for 2018 explores trends within the real estate sector, a sector which is full of innovation in terms of new services and greater flexibility.

Putin and Russia in 2018-24: What Next? (Chatham House, March 2018)
Vladimir Putin will soon begin another six-year term, possibly his last. As 2024 gets nearer, the question will be frequently posed - who or what will replace Putin, and what is next for Russia?

The BoE's Corporate Bond Purchase Scheme and yield spreads (Bank of England, 2018)
Preliminary results suggest that the BofE's plan for purchasing up to £10 Billion per month of corporate bonds successfully reduced spreads of by up to 14bp when compared to similar foreign bonds, but these estimates could be low.

Research & Strategy Insights: Financial stability risk update (AXA IM, Mar 2018)
AXA IM’s financial stability risk update shines a spotlight on risks in the USA and the Eurozone, which are moderate and stable when compared to the latter half of 2017.

2018 High-Yield Bond Outlook (Wellington Management)
Wellington strategists show that the current market environment in 2018 remains supportive for high-yield bonds.

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