コロナウイルス：影響を考察

5月は楽観が強まり、よりリスクの高いサイズファクターとバリューファクターが堅調に転じた半面、ディフェンシブな低ボラティリティ株やクオリティ株の人気が後退。

新型コロナウイルスの危機はスマート・サステナビリティ戦略にとって恵みとなり得る

米国、英国、カナダでは金融環境の緩和が大幅に進んでいる。金融環境の変化にこれほど大きな差があるのはなぜか？

オルタナ／テーマ指数のうち環境・社会に注目したインデックスが4月の上昇局面と年初来で最も好調となり、中でも米国が世界の他の国を上回る好調なパフォーマンスを計上しました。

新型コロナウイルスの危機が高まる中、ファクター戦略のパフォーマンスはどうであったか？

第1四半期のグローバル株式のメインテーマは、ディフェンシブ・ファクターが景気敏感のバリューやサイズを大幅にアウトパフォームしたことでした。

コロナウイルスの影響より気候関連インデックスのパフォーマンスを考察

There may be complacency about balancing managing inflation and the yield curve

A memorable year of fear, confidence and retail flows in microcaps.

As COVID-19 shocks subside, valuations help to uncover potential resets in factor performance

What does the COVID-19 related reduction in greenhouse gas emissions tell us about Paris climate targets?

Keynes saw investing as beauty contest. What can this approach teach us gauging about inflation in the COVID-19 recovery?

Apart from a 2020 COVID-19 spike, the Chinese yield curve has been stable since 2016. With no QE, the Chinese government bond curve is less prone to Taper Tantrums, unlike other central banks, which will need to judge QE tapers at some stage.

As growth and value performance ebb and flow, how can investors navigate the rotations?

The unfolding post-crisis recovery outlook suggests the dramatic P/E multiple expansion of the past few years may have run its course. Will it be painful or benign for stocks?

Canadian corporate bond yields hit new lows in January, led by the decline in high yield. Since the Bank of Canada (BoC) announced its QE programme would include corporate bonds, in April 2020, yields have fallen steadily...

Is the link between investment factor performance and the economic cycle breaking down?

Sentiment gauges have come roaring back from their holiday-season dip across equity markets, with the Russell 2000 sitting at a new high.

In the rough and tumble equity markets of 2020, four notable features stand out, especially for US stock returns.

US equity markets have continued their Q4 surge, with market watchers hoping for a traditional Santa Claus rally as we approach the end of a tumultuous year.

COVID,and accompanying lifestyle changes, have affected CMBS in different ways. The vaccine recovery may do the same.

FTSE Russell recently hosted market, derivatives and ETF experts from FTSE Russell, Franklin Templeton and the Singapore Exchange (SGX) in a special webinar focused on the post-Pandemic case for international equity markets and how investors might participate in these opportunities in 2021.

Sector weightings have been a key driver of the performance difference between mid- and large-cap Malaysian stocks in 2020, according to new insight from global index provider FTSE Russell and Bursa Malaysia.

The Value factor staged a dramatic revival in November but what would it take for a more durable Value renaissance. Our research offers some clues.

What listed infrastructure sectors have performed best and worst since COVID-19

Will the COVID vaccine be big medicine for the global markets and economy? Look for insights and highlights in the latest FTSE Russell Index IDEA.

US Treasury yields have been indicator of economic turning points since the Great Financial Crisis

Can ESG metrics identity predatory lending behaviors in securitised loans?

COVID vaccines have not delivered stellar returns for the pharma sector. Why?

In a banner month for global equities, the Russell 2000 has clinched a historic milestone of its own amid cyclical sector outperformance.

Why the impact on real estate has been very different to that of the Great Financial Crisis.

With the recent vaccine breakthroughs, the stars may be finally aligning in favor of long-suffering value stocks.

Despite central banks pushing rates negative, it's far from certain helicopter money won't be needed to help the economy take off again.

The case for greater exposure to China's fixed income and equities has grown after COVID-19.

But the COVID shock and US policy delay on a contested election result may limit steepening of yield curves

The Russell 2000 was among the few markets to stay above water in the October market maelstrom. Health care and banks were the index's life rafts in the storm.

How did bond ETFs fare during the COVID-19 market correction?

The dramatic expansion in valuations since March has been highly polarized across global markets and sectors, raising important allocation considerations for investors.

The positive uptrend in EPS expectations since spring has stalled amid rising Covid-19 lockdown risks. Could markets be headed for a second wave of downward revisions?

Among our global factors, Size has been particularly sensitive to the shifting economic winds buffeting equity markets since the outbreak of the coronavirus this year.

The Bank of Japan faces daunting policy challenges in the post-COVID world.

Despite taking a bigger hit in the March meltdown, US stocks have handily outperformed international counterparts so far this year.

We took a close look at how US markets performed in the wake of the past five presidential elections. The conclusion: It's the economy matters more than outcome

Germany's equity markets are more diverse than is recognized.

Auto stocks - long seen as a relic of an ailing industry - are outperforming all other sectors. Find out wh

US mortgage-backed securities have not suffered the existential disaster of the Great Financial Crisis, but there are indications of difficulties

Elevated equity valuations are raising concerns. But digging deeper into PE multiples at the sector level and taking relative perspective reveals some interesting insights.

The strong positive turn in EPS revisions since June helped power this summer's risk rally. But the recent slowing in this leading indicator is now flashing amber warnings signals for markets.

It's best not to read too much into the recent acceleration in money growth without also monitoring the drivers of money velocity and aggregate economic demand.

Back in June, we published a blog examining how the first 100 days of the pandemic had impacted the CMBS market. We found that while the entire CMBS market had suffered a sharp decline at the onset of the pandemic, at the 100-day mark some real estate sectors were showing signs of recovery. If we look at the latest numbers, we can see that while some flickers of bright spots remain, the outlook for the CMBS market has become increasingly uncertain as spikes in COVID-19 cases persist throughout the US.

The post-lockdown risk rally has brought unusually wide valuation spreads across global markets, with the gap between expensive and cheap US stocks exceeding that of the TMT bubble peak.

How has the liquidity of US corporate bonds fared since the coronavirus crisis?

To examine the uptick in sustainable investments and better understand the growing interest in smart sustainability, earlier this year we surveyed 139 global asset owners, gauging their evaluation and adoption of these strategies.

Renewed optimism over the EU’s handling of the virus, the ECB’s upgraded QE programs and the joint COVID-19 stimulus fund fueled a strong rally in riskier European debt and tightened yield spreads over Bunds.

Only long-dated UK gilt yields are meaningfully above zero now, placing them in the negative yield club of major government-bond markets. It appears that UK gilts have largely escaped the gravitational pull of US Treasuries.

Alongside the recent collapse in G7 bond yields, as the Covid-19 crisis has developed, Chinese government bond yields have backed up in recent months, reflecting PBOC caution in cutting interest rates.

The drivers of the recent record-breaking upsurge in gold can be mined for valuable market insights.

Since COVID, it's been the best of times and the worst of times for US leisure stocks

The causes and ripples effects of the US dollar downdraft in July