Changes to the nature of workforces in the developed world have seen the proportion of Gross Domestic Product (GDP) accounted for by wages fall for several decades, boosting investment returns. However, these trends could be set … [Read more...] about Do higher wages for workers mean lower returns for investors?
Investment strategies
Looking Beyond Negative Yields
Bonds will continue to provide benefits in terms of both portfolio diversification and return in the years ahead. However, with absolute bond yields at low or even negative levels in some markets, we acknowledge that these benefits may be muted relative to historical patterns. These dynamics heighten the need to take an active, global approach to a fixed income … [Read more...] about Looking Beyond Negative Yields
Climate disruption: the new normal
The world seems to be losing the battle to halt climate change. Economies and financial markets appear increasingly unprepared for the disruption that higher global temperatures will bring. Moreover, policies to limit rising temperatures do not yet appear to be fit for purpose. We believe 2020 and beyond will bring a new normal, with climate disruption triggering a … [Read more...] about Climate disruption: the new normal
AI – Acronym indecipherable?
AI or Artificial Intelligence is a feature of the world economy that has proved difficult to define (not the first instance for the investment industry). A resolution to the debate on the correct meaning is not the intention of this article. There are acknowledged (unanimous or not) branches of AI that are having a profound impact on companies, the way they are run and … [Read more...] about AI – Acronym indecipherable?
Technology – The best defence is offence
Eras are perhaps best defined by historians long after they have ended. Francis Fukuyama’s End of History was a rare exception when liberal democracy’s ascendancy – and communism’s defeat - was accurately called. In the fields of economics and markets, such predictions have a far less successful track record. In 2007, former UK Chancellor Gordon Brown infamously declared an end … [Read more...] about Technology – The best defence is offence
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