Our Multi-Asset portfolio manager based in Singapore reviews the prospects for profit margin expansion in the three main Emerging Market regions.
Over recent weeks, many analysts around the world have become more optimistic over the outlook for world trade and this view has apparently been helped by some – although by no means all – of the most recent Asian trade data and by a partial rebound in PMI (Purchasing Managers’ Index) data in Europe and the USA.
Despite having recently spent an interesting week on the East Coast of the USA, we can safely say that we still have no idea who will win the Presidential Election.
It has continued to be a wild roller-coaster ride for investors, and unfortunately, it is not likely to be very calm for the foreseeable future. Investors must keep a keen eye on geopolitical risk and be ready to act if such appear to accelerate into a situation that could significantly impact markets.
No turning back — 2% inflation target not only intact but enhanced with a new “inflation overshooting commitment”
Although it is tempting to join the ‘peak demand’ bandwagon, as investors it is important to understand the impact that different technologies (and their timing) have on energy prices.
Our UK expert on BREXIT and our chief global strategist respond to Japan’s concern about its investments in the UK.
QE policies have had a material impact on bond yields and valuations. We believe that the evolution of these policies will be more important than fundamentals in indicating when bonds can break the cycle of ever-declining yields.
Given how important central bank policies are for the pricing of assets, our focus has to be on what they do next. If debt monetisation were to occur, it would have significant implications for equity investing.
In our view, electric vehicles will have significant implications (both positive and negative) for many sectors, particularly automotive and oil, presenting investors with interesting opportunities, particularly in Asia.