Practical analysis for investment professionals


The US Fiscal Cliff: Assessing the Impact

If Congress maintains the current tax and spending policies, we will get more of the same economy we have experienced for the past three years (all else being equal). But what if Congress lets the fiscal cliff hit? Ron Rimkus, CFA, assesses the impact.

Poll: Will the Bank of Japan Become More Aggressive in Weakening the Yen to Support Exports?

A recent article by the Telegraph notes that the Japanese yen has risen sharply since the onset of the financial crisis in 2008. In a poll conducted earlier this week in the CFA Institute Financial NewsBrief, we asked professional investors whether they expect the Bank of Japan to become more aggressive in weakening the yen.

The Case for a Balanced Budget Amendment

The symptoms of economic dysfunction in the United States are becoming all too apparent, according to Lacy Hunt, executive director at Hoisington Investment Management. His solution? A sustained increase in savings, sometimes referred to as “austerity.”

Covered Bonds: Rising Interest in the United States

Europeans did and do dominate the world of covered bonds, but US investors are showing an increasing interest in these instruments.

Global Trade Imbalances Matter

A continuation of the sovereign debt crises of countries with large and rising trade deficits is not necessarily a fait accompli, but mitigation of the impact of these trade imbalances requires more than aggressive monetary policy alone.

Poll: What Do You Expect to Be the Primary Driver of Equity-Market Returns?

Whereas global equity market returns have been driven largely by central bankers and geopolitics since the 2008 collapse of Lehman Brothers, respondents to this week’s poll expect monetary policy and geopolitics to have a diminished influence on stock prices in the next 12 months.

Poll: How Long Do You Think Extremely Low Rates Can Persist?

CFA Institute asked professional investors how long they thought today’s extremely low rates could persist.

Can You Time the Markets Based on the Presidential Cycle? (Podcast)

Rodney N. Sullivan, CFA, editor of the Financial Analysts Journal, cautions investors against trying to time the market against presidential cycles.

China Investment Corp.’s Gao Xiqing: Economy “Still on Right Track”

In a recent talk, the vice chairman and president of China’s sovereign wealth fund leveled two critiques of interest to those who have grown accustomed to frequent commentary about China’s opaque regulatory system and slow pace of financial liberalization. He also outlined a bullish case for China's economy.

Poll: Is the Objection to Using the ESM’s Bailout Money to Purchase Bad Loans Appropriate?

Earlier this week, we asked readers, “Is Germany, Finland, and the Netherlands’ objection to using the European Stability Mechanism’s bailout money to purchase existing bad loans appropriate?” More than 70% said these nations’ objections were appropriate.

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