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Results 351–400
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Bearish on the U.S. Markets, Yusko Looks to Japan and Russia for Growth
by Jeremy Schwartz of WisdomTree, Inc.,
This week Professor Siegel and Jeremy Schwartz chatted with Mark Yusko, Chief Investment Officer of Morgan Creek Capital, about his thoughts concerning extended U.S. valuations and global markets that may offer abundant potential beyond that of the United States.
Attention Contrarians – Time to Look at Emerging Markets
Often when it becomes difficult to even consider discussing—much less investing in—particular markets, it might be time to take another look. History is full of examples of investors with strong stomachs making out quite well by buying some of the most unloved markets, sectors or companies in the world.
Is Your Investment Factor “Campbell Harvey Strong”?
by Jeremy Schwartz of WisdomTree, Inc.,
This week Professor Siegel and Jeremy Schwartz chatted with Campbell Harvey, professor at Duke University, to speak about his presentation, which challenges the efficacy of many factor-based investment strategies.
Analysts Love to Talk about China but Should Focus on South Korea
by Jeremy Schwartz of WisdomTree, Inc.,
This week Professor Siegel and Jeremy Schwartz chatted with Jeff Weniger, Investment Strategist at BMO Global Asset Management. We spoke at length about the impact of the U.S. dollar on global markets. I found our conversation about the impact of easy monetary policy on economies such as China and South Korea particularly noteworthy.
Why It’s Good to Be Young in Japan
At the Japan Society event “The Sun Also Rises?: Japan’s Potential in the Post-Crisis Global Economy,” we heard panelists talk about how they thought that Japan could incentivize growth in productivity. One area of note was that Japan’s largest industrial employer shifting from seniority-based pay to pay for performance was a very big step.
Emerging Markets of Tomorrow
by Jeremy Schwartz of WisdomTree, Inc.,
This week Professor Siegel and Jeremy Schwartz chatted with Gavin Serkin, Emerging Markets (EM) Editor at Bloomberg News. They also spoke to Worth Wray, Chief Strategist at Mauldin Economics, whose current focus is also on EM and the implications of a stronger U.S. dollar.
Top 10 Considerations for June to September Liftoff
by Bradley Krom of WisdomTree, Inc.,
One of the top stories of 2015 so far has been the anticipated liftoff from the zero bound interest rate target of the U.S. Federal Reserve (Fed). As market forecasters continue to debate June vs. September, we share some observations from previous hiking cycles to guide your views.
Will a Weak Jobs Report and Poor Productivity Give the Fed Pause?
by Jeremy Schwartz, of WisdomTree, Inc.,
Last Friday, Professor Jeremy Siegel and Jeremy Schwartz sat down with Sam Chandan, founder and chief economist at Chandan Economics, to discuss the unexpectedly weak jobs report, productivity, low interest rates and implications for the housing market.
How to Profit When Rates Rise: Negative Duration Bond Strategies
by Bradley Krom of WisdomTree, Inc.,
As the debate rages surrounding the timing of the first Federal Reserve (Fed) rate hike, we continue to discuss the potential tradeoffs surrounding this inevitable shift in policy. While some investors may be content to ride out the waning bull market in bonds, others may seek to position more tactically.
Federal Funds Rate Expectations: It’s October 2014 All Over Again
by Bradley Krom of WisdomTree, Inc.,
After a series of stops and starts, comments from a variety of Fed speakers and a slight pickup in some U.S. economic data, the Fed took the opportunity to deliver a dovish surprise at its March 18 policy meeting.
Japanese 10-Year Rates Double in 2015, Rise Above German Bunds
by Bradley Krom of WisdomTree, Inc.,
Since reaching historic lows in mid-January, Japanese government bond (JGB)yields have doubled over the last several weeks. In the process, they have eclipsed German 10-year bund yields for the first time in over 20 years.
Dove or Ivory? A Case Study on Currency Impacts
by Jeremy Schwartz of WisdomTree, Inc.,
Given the divergence of central bank policies, currencies are among the most important investment topics today. If the U.S. dollar continues to strengthen, it may be a headwind to U.S. multinationals earning revenue abroad, while boosting foreign companies that are earning revenue in the United States.
Could India “Run the Table” like China
by Jeremy Schwartz of WisdomTree, Inc.,
Jeremy Schwartz had the opportunity to speak with Rob Lutts, CIO of Cabot Wealth Management, a client of WisdomTree, about a research trip to India he had just taken. India has been a standout among emerging market countries, and Lutts’ outlook is that India remains a very attractive place to allocate part of his growth portfolio capital.
Should Greece Stay or Go?
by Jeremy Schwartz of WisdomTree, Inc.,
Professor Jeremy Siegel and I spoke with University of Texas professor James Galbraith on February 27. Professor Galbraith has an inside look on the ongoing Greek debt dynamics, as he became friendly with the current Greek finance minister Yanis Varoufakis as a colleague at the University of Texas.
Why Is the Fed’s James Bullard Optimistic about the U.S. Economy?
by Jeremy Schwartz of WisdomTree, Inc.,
On February 20, Professor Jeremy Siegel and I had the pleasure of speaking to St Louis Federal Reserve Bank (Fed) president James Bullard, who is a member of the Fed monetary policy committee. 2015 is shaping up to be an interesting year for monetary policy, with the Fed expected to hike interest rates.
What’s Really Driving the Value of the Euro and Yen?
by Bradley Krom of WisdomTree, Inc.,
With a majority of developed markets rallying strongly over the last several years, we think the single biggest determinant for investors actually being able to capture those returns has hinged on their ability to manage currency risk.
U.S. Dollar Strength Continues to Impact U.S. Multinationals
by Jeremy Schwartz of WisdomTree, Inc.,
S&P 500 Index has traded inversely to the currency moves over recent years, and it has become increasingly negatively negatively correlated. One reason, we believe, is that a growing share of revenue and profits for U.S. corporations comes from overseas—and that share seems likely to increase with the globalization of the economy.
What Does the Oil Turmoil Mean for the Energy Sector in the Long Term
by Tripp Zimmerman of WisdomTree, Inc.,
One of the largest investment stories for the second half of 2014 was the precipitous decline of oil prices and its impact on the energy sector. As a result of the sharp price declines, the dividend yields on various energy stocks have increased.
Ramping Up Reform in Brazil
by Rick Harper of WisdomTree, Inc.,
On November 27, President Rousseff shook up her cabinet through the appointment of Joaquim Levy as finance minister. In our opinion, this marks a positive first step by the administration in its attempt to re-establish its credibility with the market.
Making Sense of Dollar Strength
by Bradley Krom of WisdomTree, Inc.,
Over the last several months, investors and economists alike have started to take note of the broad-based appreciation of the U.S. dollar. However, we believe the magnitude of this years move tells only a portion of the story. In our view, this summers rally does not represent a correction or near-term adjustment, but rather the continuation of a broader trend that started in the middle of 2011.
Japan Dips into Recession as Japan, Inc. Profits Set New Highs
by Jeremy Schwartz of WisdomTree, Inc.,
When investors buy Japanese equities, they dont really buy a slice of that economy; they buy shares in corporations that operate both in Japan and around the world. Japan, Inc. (i.e., Japanese corporations) is showing a profit picture that differs dramatically from the countrys economic growth rate.
Flows Potential: Fund Managers Remain Under-Weight Japan
by Jeremy Schwartz of WisdomTree, Inc.,
The recent bout of aggressive monetary policy easing by the Bank of Japan (BOJ), combined with the direct purchases of equities by the Japanese Government Pension Investment Fund (GPIF), has brought on a new period of positive sentiment toward Japanese equities.
Examining the Divergence between Equities and Credit
by Bradley Krom of WisdomTree, Inc.,
Over the last year, U.S. equities rallied, and credit spread generally tightened. However, in recent months, this winning formula has started to diverge. Concerns about global growth, potential changes in monetary policy and uncertainty from geopolitical risk weighed on investor sentiment.
The ETF Trader Interview Series: Ken Dolan, Jefferies & Company
by David Abner of WisdomTree, Inc.,
In this edition, Dave Abner, Head of Capital Markets at WisdomTree, speaks with Ken Dolan, Senior Vice President on the ETF trading desk at Jefferies & Company, Inc. Ken joined the desk in 2011 after spending nine years at LaBranche & Co. as a Managing Director and Head of ETF Trading. In addition to his ETF trading experience, Ken has nine years of trading experience across equities, fixed income and emerging markets at Deutsche Bank, Credit Suisse and Lehman Brothers. He received a BS from Providence College and is a Chartered Financial Analyst.
The ETF Trader Interview Series: Aaron Kehoe, Cantor Fitzgerald
by Anita Rausch of WisdomTree, Inc.,
In this edition, Anita Rausch, Director of Capital Markets, speaks with Aaron Kehoe, Managing Director and Head of Fixed Income ETF trading at Cantor Fitzgerald. Aaron joined Cantor in September 2013 and focuses primarily on managing and trading the firms book of fixed income ETFs. In addition, Aaron was instrumental in the product launches of many new fixed income ETFs and all senior loan ETFs.
What a Rising Dollar Means for Your Stock Portfolio
by Jeremy Schwartz of WisdomTree, Inc.,
Typically, if a companys home currency is weakening compared to the currency where the companys sales are generated, this will have a positive effect on sales and profitability, and if the home currency is strengthening, it could negatively impact sales and profitability.
Double Dose of Stimulus Sending Japan Stocks Up, Yen Down
by Jeremy Schwartz of WisdomTree, Inc.,
On October 31, the Bank of Japan (BOJ) unleashed a surprise round of further stimulus to its monetary policies. This additional monetary easing occurred the same week that the U.S. Federal Reserve (Fed) completed its monetary policy program, showing a transition in global central bank accommodation leadership.
Whats Next for the Indian Rupee?
by Bradley Krom of WisdomTree, Inc.,
Even before the election results were fully counted in May, Indian currency and equity markets were reacting. After touching all-time lows last year, the rupee surged on the optimism that the reform-minded Modi would push through an agenda to improve Indian economic competitiveness.
Rising Rates Implementation Plan: Core Plus & Risk Management
While our view on rising rates has yet to meaningfully materialize this year, our underlying thesis has not changed. In our view, it may be time for investors to think about how a bond portfolio may perform as a result of changes in Federal Reserve (Fed) policy.
Risk Aversion and Dollar Strength
by Rick Harper of WisdomTree, Inc.,
Since the dollar is the primary reserve currency of the world, investors typically seek exposure to the dollar via short-term assets when market sentiment begins to shift. As we explain, the U.S. dollar can serve as an effective hedge to market uncertainty when volatility unexpectedly spikes.
Rising Rate Strategy Performance in a Falling Rate Environment
by Rick Harper of WisdomTree, Inc.,
In our view, exchange-traded funds (ETFs) can provide powerful tools for fixed income investors both big and small. Even some of the most sophisticated investment managers have used ETFs to gain broad-based exposure to certain subsets of the fixed income market.
Japan Strategist Roundtable: Jesper KollWhat Is Different This Time?
by Jeremy Schwartz of WisdomTree, Inc.,
When I spoke with Jesper Koll from J.P. Morgan Securities, one particular theme appeared in our conversation: Prime minister Shinzo Abe is an important catalystbut not necessarily the primary factorfor what is different this time in Japan.
What’s Next from the Bank of Japan
by Jeremy Schwartz of WisdomTree, Inc.,
I had the opportunity to meet with Takeshi Yamada of the Market Intelligence Group at the Bank of Japan (BOJ), and I attended a presentation at the Mizuho conference by Eiji Maeda, the director-general of the Research and Statistics Department.
How Vulnerable Is Short-Duration Fixed Income to Fed Tightening?
In recent research released by the Federal Reserve Bank of San Francisco and echoed in statements by several Fed regional bank presidents, Fed officials have voiced concerns that the market is underestimating the probability and timing of a change in monetary policy.
Playing Defense in Emerging Market Fixed Income
by Bradley Krom of WisdomTree, Inc.,
When looking around the global fixed income landscape, investors searching for income potential have essentially two choices: non-investment grade debt or emerging markets (EM). While high yield flows continues to dominate the headlines, emerging markets have generally flown under the radar in recent months. In this discussion, we focus on how investors may be able to best position against a change in Federal Reserve (Fed) policy while maintaining income potential from investments in emerging markets.
India: A Bright Spot in Emerging Markets
In 2013, emerging markets were the laggards of the global equity markets. 2014 has seen some bright spots, but various uncertainties, most notably with respect to Russia, have tended to constrain equity rallies. However, there is one market that seems to have completely shrugged off 2013 concerns and emerge as an extremely strong performer thus far this year.
The U.S. Dollar is Rising, Interest Rates Could Be Next
Since bottoming July 1, the U.S. dollar has mounted an impressive rally against virtually every major foreign currency. While many analysts have been predicting a secular appreciation in the U.S. dollar on account of stronger economic fundamentals, the current rally has caused even casual market participants to take notice.
Yellen to the Markets: Come to Me
by Bradley Harper of WisdomTree, Inc.,
By most accounts, the Federal Open Market Committee (FOMC) statement released September 17 failed to break much new ground in terms of changes to policy or language. The Federal Reserve Board (Fed) met expectations with another measured step in its tapering process, by trimming $5 billion of Treasury and $5 billion of mortgage-backed securities purchases from its asset purchase program.
Fed Policy: From Tapering to Tightening
Over the past nine months, the Federal Reserve (Fed) has gradually reduced the pace of its asset purchases in conjunction with an improvement in the strength of the U.S. economy. With tapering expected to end October 29, we believe that investors should now look beyond 2014 and start to focus on when, not if, the Federal Reserve will raise the Federal Funds Rate.
Results 351–400
of 424 found.
