Emerging markets equities, and
our investment strategy, performed relatively well in 2Q, despite the
challenges of Brexit, negative bond yields, a sharp appreciation in the
Japanese yen, and concerns about the rise of “populist politics”.
In 2016’s second quarter, the U.K.’s Brexit
decision was a defining event. For our
hard assets investment strategy, positions in the gold and energy sectors were
significant contributors to positive performance, with gold leading energy.
emerging markets bonds rebounded strongly in June, on shifting interest rate
expectations. The 6/23 U.K. Brexit vote placed a large exclamation point on the
renewed expectations for “lower for longer.”
far in 2016, the municipal bond market has continued to thrive despite headline
drama. Jim Colby explains why munis have expertly navigated this "high
Emerging markets bonds is an asset class where investors often look for higher yields, and this year they have attracted special interest.
macroeconomic surprises raised global financial risks in June, and propelled
gold. On June 24, the day following the historic Brexit decision, gold reached
a new two-year high of $1,359 per ounce. Gold finished up 8.8% in June.
U.S. moat-rated companies have posted impressive performance thus far in
2016, but their wide performance gap tightened in June amidst the
Brexit-induced global turmoil. The Brexit decision had an even greater negative
impact on international moat companies in June.
Fallen Angels Boosted by Bond Buyback Premiums
Spin-Off in the Spotlight: Associated Capital Group (NYSE: AC)
China A-Shares Denied MSCI Green Light
Munis: Expect More from Your Munis
Attractive Yields and Value in High Yield Emerging Markets Bonds
Vietnam: An Important Asia-Pacific Player
May Acquisitions Help U.S. Moats
Steel: U.S. Strong Despite Global Oversupply
Setting the Stage for the Next Gold Bull Market
MSCI to China: Let Us In and We'll Let You In
Munis: Supply Dynamics
Spring Takeover Bids a Boon
China’s “New Economy” Leshi Makes Vital Acquisition
Munis: Flattening Yield Curve Supports Performance
Alternative Energy: A Transformative Storage Boom? Part 2.
EM Bond Credit Ratings Downgrades Call for Diversification
Alternative Energy: A Transformative Storage Boom? Part 1.
Munis: Keep the Pedal to the Metal
Navigating the Oil Market's Rebalancing
Gold Extends its Strength in April
A Star-Spangled April for Moats
Munis: The Compelling Case for Closed-End Municipal Bond Funds
Spin-Off in the Spotlight: The Chemours Company (NYSE: CC)
Emerging Markets Local Currency Bonds: A Market to Revisit
Investment Outlook: Commodities Stand Out
China’s “New” Economy is Official
Munis: Muni Market is Generally Healthy Despite Some Headlines
Munis: Muni ETFs in a Portfolio
Fundamentals Return to Emerging Markets
Marketplace Lending: LendIt 2016 Learnings
Central Bank Policy Concerns Support Gold in March
Munis: Using Muni ETFs to Complement a Portfolio of Bonds
Russia: Land of Education and a Growing Tech Industry
High Yield Recovers, Fallen Angels Soar
Sun Pharma Makes Acquisition in Japan
Munis: Utility and Sensibility
EM Growth Spots: LatAm and Turkey
A Strong March for Moats
Commodities Show Signs of Recovery
Munis: Tune into My Webcast
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