Investment Topic: Equities

VantagePoint January 2020
VantagePoint: First Quarter 2020

The start of a new year and a new decade is an opportune time to reflect on megatrends that will be consequential over the next ten years. In this edition of VantagePoint, we focus on three such trends and their investment implications: disruption, demographics, and decoupling.
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CA Answers December 2019
Will Weak Economic Data in the Euro Area Undercut Its Equities?

No, we don’t think so. While euro area economic activity has weakened meaningfully, with real GDP growth falling to its lowest annual pace (1.1%) since 2013 in third quarter, strong equity returns aren’t dependent on robust economic growth. Ultimately, we continue to like the bloc as part of a risk-controlled overweight to global ex US equities funded from US equities.
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Research Report November 2019
Outlook 2020: Ten Investing Themes for the Coming Year

This year’s returns have been driven more by what has not gone wrong than what has gone right. Slowing economic growth and lackluster earnings have not shifted investors’ focus from dovish central banks and a slight easing of geopolitical risks. It is an open question whether investors will remain so sanguine in 2020. Our Outlook 2020 highlights ten themes for the coming year, with a focus on key macro questions, emerging opportunities, and risks.
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Research Report September 2019
Market History

Equity market downturns are chaotic environments that are rarely short-lived—the best advice is to be prepared.
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CA Answers July 2019
Could the Equity and Bond Markets Both be Right About the Macro Outlook?

Yes. While equity and bond markets don’t often rise in tandem like they have lately, history suggests that both recent moves could be warranted if central bank stimulus successfully extends the cycle. But that is a big “if”; several moving parts cloud the macro outlook, and markets are assuming that central banks can reverse the recent economic slowdown.
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