![Emerging Markets: How to unlock the next wave of returns](/sites/default/files/styles/583x300/public/2021-02/2018-02-12---Emerging-market---slider.jpg?h=a4cec33c&itok=bpYkjDdl)
![Emerging Markets: How to unlock the next wave of returns](/sites/default/files/styles/583x300/public/2021-02/2018-02-12---Emerging-market---slider.jpg?h=a4cec33c&itok=bpYkjDdl)
19/05/2020
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Emerging Markets
Emerging Markets Charts & Views - Market dislocation creating long-term opportunities
Two major drivers are shaping the landscape for EM countries: Covid-19 and oil dynamics. We are mindful that current events will have very significant negative effects on the economic outlook for EM this year, leading many countries into recession.
![Working-paper.jpg](/sites/default/files/styles/583x300/public/images/2021-01/Working-paper.jpg?h=a4cec33c&itok=_uIvXOlm)
13/05/2020
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Asset Allocation
Did Globalization Kill Contagion?
Does financial globalization lead to contagion? We scrutinize linkages between international stock markets in a long historical perspective (1880-2014).
![covid-19-will-redesign-sector-opportunities-amid-gradual-normalisation-and-focus-on-earnings-Slider.jpg](/sites/default/files/styles/583x300/public/2021-01/covid-19-will-redesign-sector-opportunities-amid-gradual-normalisation-and-focus-on-earnings-Slider.jpg?h=a4cec33c&itok=ocywvI6Q)
28/04/2020
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Equity
Covid-19 will redesign sector opportunities amid gradual normalisation and focus on earnings
The spread of coronavirus in Europe and the United States triggered a worldwide stock market crash in March, followed by a partial rebound.
![Slider-1280x400.jpg](/sites/default/files/styles/583x300/public/images/2021-01/Slider-1280x400.jpg?h=a4cec33c&itok=8zxxQNo5)
22/04/2020
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Fixed Income
Revisiting the global high yield outlook in the wake of the COVID-19 pandemic
Global HY markets sold off aggressively between February and March in response to the COVID-19 outbreak, the oil price war and the liquidity freeze in some markets.
![blue-paper-fixed-income-in-2020s-Slider-1280x400.png](/sites/default/files/styles/583x300/public/2021-01/blue-paper-fixed-income-in-2020s-Slider-1280x400.png?h=a4cec33c&itok=GaC2vxrY)
05/03/2020
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Fixed Income
Fixed Income: Zero rates do not mean zero returns
As we enter the 2020s, a look back over the previous decade provides a key take-away for investors: a zero-rate environment does not lead to zero performance for bond investors.
![Slider-1280x400.png](/sites/default/files/styles/583x300/public/images/2021-01/Slider-1280x400.png?h=a4cec33c&itok=z7MQjx15)
21/02/2020
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Fixed Income
Global high yield outlook: Be confident, but not complacent
Last year was a strong year for global bond markets, which were supported by the accommodative stance of the main central banks and strong investor demand. US, European and EM high yield (HY) bonds all returned more than 14% swapped into US dollars.
![2020-01-IP-Europe value](/sites/default/files/styles/583x300/public/2021-03/2020-01-IP-Europe%20value-Slider.jpg?h=a4cec33c&itok=C-Vx6n5L)
08/01/2020
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Equity
Time for a flight to cyclical value in European equity
When we look fundamentally at the risks and rewards in equity markets for 2020, we find that value offers better opportunities than growth as implied expectations are lower and therefore more attractive for value at this point.
![blue-paper-euro-fixed-income-Slider.png](/sites/default/files/styles/583x300/public/2021-01/blue-paper-euro-fixed-income-Slider.png?h=a4cec33c&itok=aH0yb13k)
09/12/2019
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Fixed Income
Screen the Euro fixed income market in the era of three 'lows'
As 2020 approaches, the uncertainty in the market has receded but there are still risks ahead involving macroeconomic, political and technical factors.
![high-yield-deep-diving-needed-due-to-a-more-uncertain-outlook-Slider.png](/sites/default/files/styles/583x300/public/2021-01/high-yield-deep-diving-needed-due-to-a-more-uncertain-outlook-Slider.png?h=a4cec33c&itok=jMwlWBTc)
04/11/2019
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Fixed Income
High Yield: deep diving needed due to a more uncertain outlook
Global growth has been slowing since 2018, due to a combination of factors, including trade wars - with consequently slower global trade - past US Fed tightening, and rising geopolitical risks. losing momentum.