Bienes raíces, crédito corporativo y renta variable de baja volatilidad de EE UU son categorías líderes
Genevieve Signoret
Nuestro desempeño En los últimos tres meses, las clases de activos en nuestros portafolios modelo[1] de mayor rentabilidad en términos del dólar estadounidense fueron los bienes raíces de EE UU (1.7%), los bonos corporativos con grado de inversión de corto plazo estadounidenses (1.6%) y las acciones de baja volatilidad de EE UU (1.2%). Las de peor […]
U.S. real estate, investment grade corp bonds and low-volatility equity lead the pack
Genevieve Signoret
Our Performance In the past three months, the asset classes in our model portfolios[1] that delivered the highest U.S. dollar returns were U.S. real state (1.7%), and US medium-term investment grade corporate credit (1.6%) and US low volatility equity (1.2%). Producing the lowest returns (in dollar terms) were U.S. energy equity (–14.5%), Germany equity (–13.2%), […]
Bond markets point to dovish FOMC tone
Genevieve Signoret
Fixed Income U.S. bond prices reveal a drop-off in inflation expectations. This and poor global data drive our view that the FOMC will take a dovish tone on Wednesday. Meanwhile, risk U.S. credit risk spreads are widening toward more sustainable distances. We anticipate a rebound in tandem with equity—perhaps soon. U.S. bond prices reveal a […]
Check out our new earnings surprise chart
Genevieve Signoret
Equity Q3 earnings reports surprise up more than down
Aprovechar el momento y felicitaciones
Genevieve Signoret
Carta de la Presidente Carpimus diem Estamos aprovechando las altas valuaciones de los bonos del Tesoro de EE UU para hacer un cambio de estrategia que creemos mejorará el desempeño de nuestros portafolios modelo y cliente en los próximos dos años. ¡Bien hecho! A propósito de aprovechar el momento, felicito a todos los que atendieron […]
Seizing on this moment and congratulating you
Genevieve Signoret
Letter from the President Carpimus diem We’re seizing on high U.S. Treasury valuations to make a strategy shift we think will boost our model and client portfolio performances in the next two years. Good one! Oh, and speaking of seizing the moment, I want to applaud those of you who heard our call last week to […]
We hold to our views, anticipate confirmation
Genevieve Signoret
Macro Views We hold to our views and expect confirmation next week from BoE, Germany, and China. Overview We look for confirmation of our central scenario views next week through dovish Bank of England minutes, an improved factory survey (PMI) in Germany, but a rash of poor data from China. Bank of England will sound […]
Los bonos con grado de inversión de EE UU se disparan
Genevieve Signoret
Nuestro desempeño En los últimos tres meses, las clases de activos en nuestros portafolios modelo[1] de mayor rentabilidad en términos del dólar estadounidense fueron los bonos del tesoro de EE UU de mediano plazo (2.1%) y los bonos corporativos con grado de inversión de corto plazo estadounidenses (0.4%) y los bonos de países emergentes emitidos […]
U.S. Investment Grade Bonds Spike
Genevieve Signoret
Our Performance In the past three months, the asset classes in our model portfolios[1] that delivered the highest U.S. dollar returns were U.S. medium–term treasuries (3.8%), and U.S. investment-grade short-term credit (0.8%) and emerging market sovereign USD bonds (0.2%). Producing the lowest returns (in dollar terms) were U.S. energy equity (–19.4%), Germany equity (–17.0%), and […]
Revised oil price forecast for 2014
Genevieve Signoret
Alternative Assets We revise down our global oil forecast for 2014. We now expect Brent to average $101/barrel for the year. This marks a downward revision from our previous forecast of $104. For WTI, we now project an average price of $96 in 2014, down from $99.