KLDW News and Press, Knowledge Leaders Developed World From 12/13/22

Summary While the downturn in global private sector business activity entered its fourth month in November, employment continued to rise. Those companies that are still hiring are also remarking on the challenges in finding staff, with the PMI Comment Trackers showing reports of labour ...

Summary Demand destruction is weighing on prices globally as financial conditions tighten. The good news is that headline CPI is set to follow crude lower in 2023. This Wednesday, any dovish nods out of the FOMC could spark a year-end relief rally in risk markets. Demand d...

Summary Are we seeing the beginning of a reversal in the decline in stocks, and rise in yields, which have haunted investors this year? If the rebound in equities continues into Q1, it’s possible that leading indicators will flip, offering more convincing support for the idea of ...

Summary Amid the crosscurrents, two themes have prevailed during the post-pandemic years, which lend some perspective to the macroeconomic roadmap ahead: namely, the bipolar swings in macro policy and the forces of economic normalization. After one of the worst years for fixed income as...

Summary Global business conditions worsened in the penultimate month of the year according to the JPMorgan Global Composite PMI, compiled by S&P Global. New order expansions were seen in merely three of the 21 sectors tracked by the global PMI - software & services, pharmaceutic...

Summary Expectations surrounding central bank policy, China’s gradual reopening and a lower US dollar are key to investor sentiment in the final stretch of 2022. Central banks have increased interest rates at the fastest rate on record, and there are signs that higher yields are ...

Summary It was long anticipated the “non large-cap growth” asset class would eventually assert itself in terms of market leadership and revert to the mean. The sudden dollar weakness has driven good volume in some of the EM ETFs like EMXC and the Vanguard ETF like VE...

Summary The era of cheap money and low inflation is over. We see an opportune time for active equity managers to shine. We believe the recent correction is more than just another crank of the economic cycle. Not all earnings are created equal. We find the gap between companies...

Summary Surging stocks show markets believe hopes of a soft landing by the Fed to be true. We disagree and stay underweight developed market (DM) stocks. U.S. stocks jumped and bond yields plunged after October CPI rose less than the market expected. But sticky core inflation keep...

Summary Equity investors have sustained significant losses this year and are facing a long list of new uncertainties. Although interest rates have risen sharply over the past two years, they’re quite low from a historical perspective. Looking back two decades from Octob...