Research Roundup
Stress Points: What High Frequency Data Tell us About Hidden Tail Risks
High frequency events can also be a valuable source for statistics on rare events. Whereas rare events that occur over lower frequency, longer horizons are much harder to find (and hence much harder to derive statistics from), intraday events create a larger, more accessible data set that can be used to supplement data on tail events.
-Vineer Bhansali, managing director, PIMCO
-Qingxi Wang, portfolio manager, PIMCO
Global Real Estate Is Hot Again, but Where Are the Best Opportunities?
In this low interest rate environment, yield-hungry investors have been moving out of bonds, and many are opting for real estate investment opportunities.
-Joe Rodriguez, INVESCO
The Truth about April’s Budget Surplus
Washington finally had some good news to report, specifically on the budget deficit.
-Marie Schfield, chief economist, Columbia Management
Investors Living in Emerging Markets are a Bullish Bunch!
According to the GISS, 58% of investors residing in developed markets believe their local stock market will be up this year, but investors in emerging markets were even more upbeat – 66% believed their local stock market would post a bullish performance in 2013.
-Mark Mobius, executive chairman, Templeton emerging markets group
Everybody Wants Some: Central Banks and Bond Funds Step up Buying of Stocks
It's probably no surprise that a common question I hear these days is, "Has the stock market come too far too fast?" There are underlying questions as well, including "If it's not retail investors buying (they're not, at least not aggressively), who is doing the buying?"
-Lis Ann Sonders, chief investment strategist, Charles Schwab
Economic Insights: Consumers: The Great Sobriety
In many respects, the de-leveraging that has been occurring in the household sector since 2008 stands as a truly remarkable economic event, especially given the American consumer's well-entrenched, spendthrift habits.
-Milton Ezrati, senior economist and market strategist, Lord Abbett
How to Take Advantage of the Great (Sector) Rotation
One beneficiary of the 2013 US stock market rally: defensive sectors.
-Russ Koesterich, chief investment strategist, Blackrock
Changing Face of High Yield
High yield has been on a tear. A series of fortunate events have made this one of the best asset classes in recent years.
-Christian W. Thwaites, president & CEO, Sentinel Investments
New Normal ... Morphing
Maintaining an approach that has served PIMCO’s clients well for four decades, our investment professionals gathered in Newport Beach last week for three days to discuss the three-to-five year outlook for the global economy and markets.
-Mohamed A. El-Erian, CEO & Co-CIO, PIMCO
A Whiff of Confidence
There has always been a strong relationship between P/E multiples and consumer confidence as investors who feel confident are more willing to pay up for future earnings.
-David Kelly, chief global strategist, J.P. Morgan Funds
