The British pound came under pressure on Monday morning following an unsuccessful attempt over the weekend to find a compromise más in the Brexit negotiations. However, the currency swiftly recovered. CIO continues to expect a deal to be reached, but the pound is likely to remain volatile until then.
Diplomatic tensions between the US and Saudi Arabia over the disappearance of a prominent critic of the Saudi regime pushed oil prices higher on 15 October. The official Saudi news agency reported on Sunday that the country would respond to any punitive measures taken by the US with an even “stronger” response. más
The "Main Street Employee Ownership Act" measure recently became law, which makes ESOPs worth consideration for retiring owners and for workers benefiting from employee ownership. más
The anonymous British artist known as Banksy shredded it – literally – at Sotheby's last weekend when his painting, "Girl With Balloon" self-destructed. But then it was almost immediately resold, shreds and all. más
This year started with one of the strongest equity market rallies in history, gaining 7.6% through the 26 January close. Then, in just six trading days, the market reversed those gains and ended a period of extreme calm that had seen 19 months without a 5% drop. más
The equity market sell-off continued today, with the S&P 500 and Dow both down just over 2%, bringing the S&P 500’s six-day decline to -6.75%. This happened despite no notable earnings news and the one significant economic data point (September US CPI inflation) was actually below expectations—a dovish result for rates that temporarily lifted equity futures. más
The Chief Investment Office (CIO) is bumping up its S&P 500 EPS estimates. CIO now expects 2018 S&P 500 EPS of USD 161, up from USD 158, and is increasing the 2019 forecast, but only by USD 1. más
Bonds and equities have both sold off recently. That's the worst of all worlds from a portfolio standpoint, but the market move hasn't been as bad as it might seem. más
Global equities retreated to three-month lows on Thursday, rattled by yesterday’s Wall Street rout. Asia was particularly hard-hit, with the onshore CSI 300 Index slumping 4.8%, its worst single-day fall since February 2016, and the broader MSCI Asia ex-Japan Index dropping 3.9%. In Europe, the STOXX Europe 600 fell 1.6% to a 20-month low. más
Whether investors decide to invest in emerging markets directly or not, they are increasingly exposed to their economic, financial, political, and even cultural sphere of influence. más
CIO has identified a number of risks that could potentially affect global investors ("Are you prepared? Risk scenarios to watch"). One such risk would be China experiencing a sharp economic slowdown in 2019 caused by a strain from US import tariffs. But how realistic is such a scenario? más
“Buy land, they aren’t making it anymore,” Mark Twain famously advised. The Hong Kong government appears to have taken that as a challenge, unveiling plans today to reclaim some 17 square kilometers of coastal territory for new housing developments. más
More than one-third of Global Family Offices surveyed by UBS and Campden Wealth are involved in sustainable investing, a rise of 4.2% from 2017. más
Gucci, Louis Vuitton and Hermes are among the brands benefitting from millennials' optimism about their financial future; even the Chinese are showing no signs of slowing down. más
A United Nations report out this week sounds the alarm on climate change, calling for urgent changes to the global economy to avoid severe ecological disruptions as soon as 2040. The awarding of the Nobel prize for economics to William Nordhaus for his work on climate change also adds to the focus on the issue. más
The third quarter has drawn to a close. The outcome was broadly positive for diversified equity investors, with the MSCI All Country World Index climbing 4.7% largely due to a 7.7% return in US stocks. And US stocks passed a historic milestone, with the bull market becoming the longest in modern US history by some measures at 115 months. Here's what we think is in store for 4Q… más
Just 30 years ago, Robert Swan became the first explorer to walk unsupported to the North and South Poles. He may remain the only person to ever hold that record. más
"Market narrowness" has become a major talking point for 2018. más
A new United Nations special report takes stock of global warming. In calling for a significant increase in the share of renewable energy, it reinforces the Chief Investment Office's view that renewables have great potential. más