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Investing

Tactical Asset Allocation Views – April 2020

The Covid-19 global outbreak that started in early January represents an exogenous shock to the global growth cycle, at a time when the world economy was on the cusp of a new synchronized cyclical recovery. Driven by this shock, our macro framework moved into a global contraction regime in February (i.e. global growth expected to […]

Investing

Six things for investors to watch in April

In the early stages of the COVID-19 pandemic, we talked about the need for an effective, global, three-pronged approach in order to achieve a “best-case scenario” outcome: 1) an appropriate health policy response to “flatten the curve” and control the spread of the virus, 2) an adequate monetary policy response to support financial markets and […]

Investing

Where do portfolio managers see opportunities in today’s environment?

The three-pronged fight against COVID-19 and its economic impact continues. Central banks are providing monetary policy support to keep banks and markets functioning, national governments are providing fiscal policy support to consumers and businesses, and governments at all levels are taking public health policy steps to contain the spread of the virus. (Not to mention […]

Investing

How to grab a quick 20k, but is it painless?

Truth be told, Australia was one of the least prepared countries for this crisis. That’s because the average Aussie household is shouldering some of the highest household debts in the world, and has skint savings: half of us have less than $7,000 in the bank, according to the Grattan Institute. So for those people who […]

Investing

Fortress Russia: An underrated economy poised for a resilient recovery and long-term growth

In a previous blog, “The coronavirus is proving to be a black swan event — unpredictable and with massive consequences,” we noted that black swan events create consequences, but opportunities for investors can arise from them. We see this as a black swan event that will have profound systemic consequences including a massive competitive shift […]

Investing

Where do stocks and bonds go from here?

In last week’s blog, members of Invesco’s Global Market Strategy (GMS) team in Hong Kong, Italy, London, Tokyo and New York shared their on-the-ground insights of the fight against coronavirus from a health care, monetary, and fiscal perspective. Today, we take a deeper dive into the potential implications of the pandemic on US stocks and […]

Investing

Municipal market update and sector thoughts

The world was a different place only a few weeks ago. Municipal bond funds had experienced 60 straight weeks of inflows – a record streak totaling around $75 billion.1 But fast forward to the week ending March 18, 2020, and fears of COVID-19 caused municipal funds to experience $12 billion in outflows, another record.2 Outflows […]

Investing

The Fed’s ‘whatever it takes’ moment

Monday morning, March 23, the Federal Reserve (Fed) announced one of the most aggressive monetary easing programs in the history of central banking. The set of measures announced includes open-ended purchases of Treasury securities and agency mortgage-backed securities (quantitative easing or QE), and programs to support the flow of credit to consumers and employers. In […]

Investing

So I have some bad news

So, I have some bad news. I’ve spent this week fighting a virus. It’s dangerous, it’s destructive … and it’s about to explode, and potentially infect millions of people. Let me explain: it’s a financial cousin of the coronavirus which I’m calling the ‘Payday Lending Pandemic’. See, this weekend, in kitchens and living rooms across […]

Investing

Coronavirus impact and response: A global view

Every morning, my day begins by discussing the latest developments in the coronavirus fight with my team of strategists on-the-ground in Hong Kong, Italy, London, Tokyo, New York and elsewhere. Today, my weekly blog features several members of Invesco’s Global Market Strategy Office, who answer the most pressing questions they’ve been hearing from investors who […]