PEJ News and Press, Invesco Dynamic Leisure and Entertainment From 02/16/21

Risk assets continued their historic run last week with EM equities and commodities leading the way. Bonds sold off as the 10-year Treasury note yield broke above 1.20% for the first time since the lows last spring. The 10-year TIPS yield closed the week at 1.02%, near the all-tim...

In prior economic cycles, the global luxury industry has shown characteristics of cyclicality. Brands' reluctance to work with third-party distribution stems from, in some cases, a loss of control in how their products are priced, displayed and merchandised online. Another immense...

Retail sales were surprisingly strong in 2020. Factors driving consumer spending in 2021 include vaccines, government support and stimulus, jobs, and pent-up demand for services. Bruinsma: Next winners could be in travel, restaurants and apparel/footwear as the economy re-opens. ...

Amid the earnings flurry this week, Bloomberg will host a virtual event that will focus on how the disruptions of 2020 will impact navigating 2021.Tuesday’s session will be of particular interest as executives from among the Consumer Discretionary (XLY) subsectors hit hardest by the pa...

The combination of a raised minimum wage and elimination of a tip credit for servers could be another blow to the low-margin restaurant industry reeling from COVID-19. But publicly traded restaurants showed no sign concern, even as President Joe Biden signed an executive order directing ...

Last week, the 10-year Treasury bond yield continued to rise, as last Tuesday's bond auction had a lackluster bid-to-cover ratio of 2.47. This means that the Fed is going to have to do more quantitative easing or the federal government is going to have to curtail its spending. The Fed...

Among strong, positive numbers, industrial production rose 1.6% in December, while the manufacturing component rose by 1.0%. Nominal retail sales declined -1.0% in December. Excluding the food services sector, which has been especially hard hit by the pandemic and lockdowns, sales wer...

COVID-19 didn't cause physical retail's steep decline - it just accelerated it. Retail survivors and thrivers will invest in the apps and digital tools that eliminate friction from the shopping experience. Consumers in the U.S., U.K., and Australia consistently rate the in-store s...

Consumer spending fell 0.4% in November, its first drop since the April when the Coronacrisis was about at its worst. Bankruptcies of major US companies scaled old heights in December to finally hit their 2011 levels with 16 major companies filing in December. Job losses jumped fo...

PEJ uses a multi-factor fundamentals-based approach to invest in stocks across the entertainment and leisure industry. The fund has underperformed its industry index benchmark consistently over the past decade which we believe is related to weaknesses in its strategy. A concentrat...