Pensions
Swiss Pension Fund Publica Lost 9.6% in 2022
The $47.8 billion fund, which still outperformed its benchmark, blamed the decline on ‘massive upheaval’ of global financial markets.
Tag: Bonds
Research
How the Investing World Is Changing for Good, and for Bad, per JPM’s Savant
An end to artificially low rates and globalization will have mixed results, strategist Michael Cembalest finds.
Newsmakers
How Bob Doll Makes His Rather Prescient 10 Annual Predictions
The Wall Street heavyweight’s forecasts for each coming year have done well over three decades, coupling conventional wisdom with unorthodox guesses.
Asset Allocation
Stocks and Bonds Should Come Back in 2023, Says Cambridge Associates
The consulting firm explains why, even with a recession, it will pay to overweight equities.
Newsmakers
Guggenheim CIO Scott Minerd Dies
A leading figure in fixed income, he joined the firm at its outset.
Research
Survey: Allocators See 2023 Opportunity in Bonds
Fixed income should benefit from rate increases, Natixis poll finds.
So When Will Stocks and Bonds Un-Link?
It’s a rarity for the two main asset classes, almost always negatively correlated, to perform a duet. Here’s what allocators can do about that.
Asset Allocation
BlackRock’s Suggested 2023 Buys: Investment Grade Corporates and Just 2 Other Bond Types
Still-high inflation and an expected recession call for slighting stocks and most other categories, the asset kingpin advises.
LDI Push to Lower Stock Exposure Reaches Its Destination
The de-risking trend has seen equities cut in half since 2008, to around 30% of assets, and Milliman thinks that’s where it will stay.
Risk
Why Bond Liquidity May Be Headed for Trouble
As Yellen warns of problem selling the obligations, fixed-income volatility resembles that of stocks. Other hazards lurk.
Asset Allocation
BlackRock Touts Its Ideal Asset Mix to Hit Allocators’ Target Returns
The best chance of reaching a 7.5% gain is to go heavily into bonds, its study contends.
Market Moves
Fright Among British Pension Funds as Bonds Buying Ends
Bank of England says it is ceasing support for gilts on Friday, as plans face punishing margin calls amid tanking fixed-income values.
Asset Allocation
Recession’s Market Impact May Already Be Priced In, Says Vanguard CIO
Gregory Davis predicts that a U.S. economic slump, when it occurs, will be mild.
Inflation, Duration and Frustration: Investing in a Risk-Filled Fixed-Income Climate
Past havens such as emerging markets offer little protection, so investors are considering high-yield bonds and high-quality equities.
Asset Allocation
Allocators Rebalance Too Often, JPM Says
Instead of rebalancing quarterly or monthly, do it annually, and more strategically, the firm advises.