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April 2019

Yield Curve Discrepancies

Is the latest yield curve inversion a cause for concern or a false alarm?

April 2019

Darkest Before the Dawn

A yield curve inversion in March prompted a red signal in the ClearBridge Recession Risk Dashboard. But the overall signal remains in expansionary territory (green), a positive for equity investors.

March 2019

Emerging Asia currencies are a hardy bunch

Emerging Asia currencies have displayed a resiliency when compared to their Emerging Market counterparts. Having large foreign exchange reserves mean that in periods of heightened uncertainty, Asian governments have the ability to instill confidence...

March 2019

Exploring China’s Local Bond Market

Desmond Soon, Portfolio Manager and Head of Investment Management, Asia (ex-Japan) at Western Asset, answers questions about the latest developments regarding the local bond market in China.

March 2019

Evolution of a Downturn

Financial markets may be sending mixed signals, but the ClearBridge Recession Risk Dashboard still signals expansion, with business activity and consumer health showing few signs of stress.

March 2019

5G – The Confluence Of Technology & Geopolitics

The impact of 5G is going to be immense – enabling exciting new developments in a range of sectors. However, the impact of geopolitics means potentially two competing, non-interoperable 5G networks is very realistic.

March 2019

Asian Banks’ NPL remain healthy

A healthy banking sector is crucial to the sustainable growth of an economy. Asian banks have come along way and remain healthier than most.

March 2019

Further hikes are unlikely

The upcoming "Fed Listens" schedule of public events is unlikely to result in major policy changes. We also doubt the upcoming shift in the Fed’s inflation strategy will have any significant effect on inflation expectations, except to make rate hikes even less likely in 2019.

March 2019

Emerging Asia: A Pillar of Global Growth

Emerging Asia growth is projected to continue outpacing their global counterparts, sustaining conditions for a virtuous cycle between businesses, consumers and government.

February 2019

A Sweet Spot For Asian Markets

Andrew Graham, Head of Asia at Martin Currie, believes that opportunity has emerged in Asian Equities. The culmination of positive earnings revisions, accommodative policies and attractive valuations look to benefit the region’s stocks.

March 2019

Where the (quality) yield is

Asia is a feasible destination for equity and fixed income investors looking for quality yield.

January 2019

Do Not Be Complacent About Volatility

The persistent presence of external risks suggest guarding against the recent complacency of lower volatility. An Asia defensive equity strategy has delivered better risk-adjusted return when compared its plain vanilla counterpart.

February 2019

U.S. Energy MLP Update

This continued growth in U.S. energy production and associated infrastructure buildout will drive increasing cash flows for energy infrastructure companies.

January 2019

Tilting Toward Accommodation

CIO Ken Leech from Western Asset believes that subdued global inflation should provide monetary policymakers with a ramp to be more accommodative and perhaps pull back from their normalization efforts.

January 2019

Asian Equities Are Back On Track

Going forward, positive internal characteristics (attractive valuations and growing dividends) and improved external conditions (the fed, the US dollar, trade), have the potential to put Asian equities back on track.

January 2019

The Emerging Markets Advantage

The Fed seems ready to exercise rates patience, Emerging Market (EM) currencies look less restrained and trade negotiations have been more reconciliatory than before. Perhaps this is a good opportunity to reiterate the case for EM assets.

January 2019

Fed Outlook for 2019: "Wait and See

We expect that the Fed will eventually adopt a “wait-and-see” strategy this year; we expect at most one more rate hike in 2019.

January 2019

Western Asset 2019 Global Outlook

We expect global growth to remain positive in 2019, as US growth moderates slightly and Europe and EM economies, buoyed by China and the Asia-Pacific complex, regain their footing.

January 2019

A Pullback, Not a Crash

The current environment is similar to several previous periods where market weakness and substantial P/E compression occurred against a backdrop of economic and earnings strength. Historically, these periods have been followed by solid stock rebounds.

January 2019

Cash does not necessarily grow assets

Cash can be a refuge when major asset classes are headed for losses. However when held for too long...

January 2019

Small-cap stocks: Don’t Fear the Bear

Royce sees ample opportunities in the wake of one of small-cap’s most challenging quarters in 40 years.

December 2018

Recession Watch: Lessons from the Last Cycle

Should we worry about the recent inversion of 3-5 year Treasury yield curve? The ClearBridge Recession Risk Dashboard suggests concerns may be overblown.

November 2018

Earnings and Dividends Paint Resiliency

As the markets continue to digest short term news flow, long term investors will look beyond the noise and recognize that opportunities emerge when fundamentals and price diverge.

November 2018

Will Earnings Strength Lift Small-cap Cyclicals?

Co-CIO Francis Gannon on why ongoing earnings strength for small-cap cyclicals is bolstering our confidence.

November 2018

Midterm Elections: Divided Congress Signals Gridlock

With control of the Senate and House now divided, and the prospects for a recession still muted, the S&P 500 should continue to march higher in 2019...

October 2018

Dividend Strategy

Dividends today are a far more efficient mechanism for returning value to shareholders than they have been in decades.

October 2018

Lower Volatility, Higher Sharpe

From a Sharpe ratio perspective, an approach that seeks to manage volatility can be beneficial for investors.

October 2018

The Long View: Current Expansion Headed For The Record Books

The ClearBridge Recession Risk Dashboard continues to point to a healthy backdrop for the U.S. economy.

October 2018

Strong Dividend Growth Offsets Rising Rates

Dividend increases have been strong in 2018, evidence dividend payers are taking full advantage of strong economic fundamentals and tax cuts.

October 2018

Coming to terms with policy divergence

How Asia deals with differing policy paths of the world's largest importer (US) and the largest exporter (China) remains to be seen as both economies command significant sway

September 2018

Conversation on US Dividend Paying Stocks

Kathleen Anderson, Director at ClearBridge Investments, remains positive about the outlook for the U.S. equity market and dividend-focused strategies.

September 2018

After Market Highs, What's Next for Small-Caps?

Surveying the small cap landscape after a period of strong gain, Royce co-CIO Francis Gannon is selectively bullish.

October 2018

Beckoning valuations

The present is a good time to consider the attractiveness of the region.

September 2018

The Fed Sticks to the Plan

A brief on what the Fed did, how markets reacted, and a guide to some additional insight.

September 2018

Diversify with Asian Local Currency Bonds

Asian local currency bonds is an asset class that is worth considering for global investors as its correlation with major asset indices across different regions, remains markedly low.

September 2018

Return of Loan Growth Should Boost Select Banks in the U.S.

Commercial and industrial loan growth is gaining momentum, a positive sign for U.S. banks.

September 2018

Conversation on US equity

Kathleen Anderson, Director at ClearBridge Investments, thinks domestic fiscal stimulus outweighs the burden of global trade tariffs for US companies.

September 2018

Energy MLP Update

The master limited partnership (MLP) sector was supported by energy sector outperformance and firming commodities prices in the second quarter.

September 2018

Dealing a Tailwind for Small Companies

There is at least a degree of positive relationship between how US Small Caps perform and the number of M&A deals. But why is that so?

September 2018

Conversation on US Small Caps

Bill Hench, Portfolio Manager, explains where he sees opportunity and what factors affect US Small Caps in the foreseeable future.

September 2018

Manage the Clear and Present Volatility

As uncertainties increase, investors must relook the investment landscape with caution

September 2018

Thoughts on the US Economy

John Bellows, Portfolio Manager thinks the US Federal Reserve (Fed) will pause hiking rates in early 2019, which is not what the market is expecting.