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CIO podcast: Why the Fed won't be so hawkish
Global Chief Investment Officer Andrew McCaffery on the outlook for central banks
Metaverse: Does it meta?
The buzz around the “metaverse” has gone into overdrive. But is it all it’s cracked up to be? And does it ‘meta’ for investors?
Chart Room: Electric carmakers to outstrip ICEs by mid 2020s
The number of electric vehicle manufacturers is expected to overtake the number of companies making cars of the gas-guzzling variety by the mid 2020s.
China cuts rates despite solid GDP report
As China's cycle increasingly diverges from the West, the latest set of policy easing measures speaks to economic headwinds but also signals more stimulus.
Tuning in to private markets
The flood of money into private assets has been one of the most significant investment trends of the past decade.
Rich Pickings podcast: 2021- a sustainability odyssey
The pandemic and COP26 made 2021 a big year for sustainability. In this podcast we round up the main themes and ask where next for investors and ESG.
ESGenius: Boosting board independence in Japan
Regulatory reforms have created new opportunities for active shareholders to engage with Japanese companies on key governance issues like board independence.
Chart Room: 2021’s long goodbye to transitory inflation
Five charts that show the inflationary impact of 2021’s reopening cycle
Hawkish Fed enters 2022 with a catch
Three rate hikes in 2022 could be a challenge.
ESGenius: Greening ‘Made in China’
While domestic consumption of sustainable products remains nascent, China’s exporters are tapping into demand for ‘green’ goods around the world.
Chart Room: Fidelity quant indicator points to risk off
Fidelity’s Risk Aversion Indicator has quickly moved higher over the past few weeks and now recommends taking risk off the table.
Rooting out modern slavery
Fidelity International is encouraging companies to look for modern slavery proactively and disclose what they find.
Chart Room: When it pays to consider low volatility strategies
In the face of a riskier macro environment, strategies designed to minimise volatility may find their time to shine.
Omicron: game-changer or waiting game?
New variant has the potential to be a game-changer for the near-term macro and market outlook.
ESG Outlook 2022: Three key priorities in sustainable investing
ESG Outlook 2022: Three key priorities in sustainable investing
Chart Room: The REIT way to invest as private real estate evolves
The way we use buildings is changing. Publicly traded real estate investment trusts (REITs) show how private property funds may be set to evolve in response.
Disorderly transition remains likely, despite COP pledges
A divergent net-zero trajectory seems to be taking shape, with countries adopting different approaches.
The Investor's Guide to China podcast: Demographics
China’s labour pool is shrinking as the population ages. How people save and invest signals challenges and opportunities for China’s pension system.
Chart Room: What policies will push companies towards net zero?
The carrot is more effective than the stick, according to a survey of Fidelity International analysts.
Chart Room: Net zero needs decarbonisation solutions
A chasm remains between government plans to cut emissions and the shared goal of net zero by 2050. Nascent decarbonisation solutions may help bridge the gap.
Satellite spies take on palm oil deforestation
Deforestation has been high on the agenda at COP26, with many countries signing up to end the practice by 2030.
Rich Pickings podcast: Practical (and green) investing for the climate transition
"The solutions exist today to get us 80 per cent of the way to net zero," says portfolio manager Cornelia Furse in this latest episode of Rich Pickings.
In the weeds with one of the world’s largest pulp producers
See how Fidelity's engagement with Suzano developed and what's happening on the ground.
Chart Room: A 100-year view of inflation and asset returns
Long run inflation data show equities and bonds both perform better when inflation is falling. But what about today’s world of persistent price rises?
The Fed finds flexibility in QE tapering
The Fed finds flexibility in QE tapering timeline
China Green bonds: sprouting issuance, absent greenium
A key advantage of China’s onshore green bonds that sets them apart from other markets is the lack of price premium over comparable non-green issues.
Green government bonds: the promise and the pitfalls
Green sovereign bonds are on the rise and could improve the green bond market as a whole, but investors should monitor what issuers do with ‘green’ funds.
COP26 is a make-or-break moment for cutting emissions at speed
COP26 is a chance to go faster on the things that we know work and to push harder on the things we still need to get right.
Chart Room: Net zero puts oil on a rollercoaster ride
The race to decarbonise is constraining investment in long-cycle energy projects.
Carbon pricing is coming but watch out for greenflation
Carbon pricing is an inescapable tool in the race to net zero, according to Fidelity International’s latest Analyst Survey.
How Fidelity plans to get to net zero
Fidelity's climate investing policy and net zero plan.
Fidelity's CIO calls for clarity at COP
Ahead of COP26, Fidelity’s chief investment officer Andrew McCaffery talks to Richard Edgar about the challenges facing politicians.
Chart Room: Digging into China’s GDP growth
A sharp decline in excavator utilisation reflects China’s property-and-infrastructure-induced slowdown, but it also boosts the case for strong policy response.
Chart Room: Fidelity Leading Indicator points to contraction
After a summer slowdown, the latest Fidelity Leading Indicator is forecasting a tougher winter.
The Investor's Guide to China podcast: Regulation
How should investors look at a pick-up in regulatory activity that has affected some of China’s biggest and most dynamic companies?
Chart Room: Is inflation here to stay?
Companies face a mix of transitory and structural inflationary pressures, according to Fidelity International’s latest analyst survey.
Rich Pickings podcast: The uncomfortable trade
A reckoning in China, a debt ceiling in the US, soaring energy prices in Europe: we gather the experts to help make sense of it all.
Chart Room: The kitchen gets hotter for China’s gadget makers
Demographics are weighing on China’s kitchen appliance segment, but competition is heating up at the higher end of the market.
Time to look beyond Evergrande and China’s ‘too big to fail’ era
Property giant China Evergrande’s woes are better understood as a controlled explosion, rather than an unexpected disaster.
‘Lehman moment’ fears are wide of the mark in China Evergrande fallout
Property developer China Evergrande Group’s debt issues have rattled markets, but comparisons to a ‘Lehman Brothers moment’ look overstated and misdirected.
Chart Room: The energy rally could run out of steam
Oil and natural gas prices could start to moderate as the outlook for demand weakens and supply looks set to increase.
Fed signals a fast taper as 2022 becomes the new lift-off battleground
Fed signals a fast taper as 2022 becomes the new lift-off battleground
Chart Room: Fidelity analysts temper expectations for margin growth
Fidelity International’s latest monthly analyst survey suggests that the outlook for margins is moderating from elevated levels.
Fidelity Live: The Analysts - How we get to net zero
Fidelity's research and investment teams on what net zero means for investors and how the utilities sector is managing the transition.
Chart Room: An inflection point for Chinese equities?
There may be pressure on valuations as international investors adopt a wait-and-see approach, but the long-term outlook continues to be positive.
Asia eyes a tantrum-free taper this time
A faster-than-expected tapering by the Federal Reserve remains a risk for Asian bond markets, but investors have been reassured by the latest policy signals.
Chart Room: US restaurants devour record receipts amid rebound
A resurgent desire to eat out has propelled monthly US restaurant sales above pre-pandemic levels. Despite challenges, we see a long runway of recovery ahead.
A podium moment for Japan’s markets, too?
Japan stocks have long been consigned to tactical trading by global investors, but positive catalysts are emerging in a post-Covid inflationary world.
Fed disconnects timelines for tapering and rate rises
At the annual Jackson Hole Symposium, Federal Reserve chairman Powell confirmed that the test of "substantial further progress" on inflation has now been met.
Chart Room: India eyes a bigger slice of export markets
Rapid income growth means more Indian households are buying their first mod cons, while government policies aim to turn India into a major exporter of them.
Chart Room: A pain in the bottleneck for supply chains
There are tentative signs that substantial supply chain bottlenecks in the US are starting to ease.
Chart Room: Bond markets tempt FAIT amid prospects for a steeper US yield curve
The market sees risks that the Fed will not accommodate a large inflation overshoot, but we think the yield curve may have flattened too far.
Chart Room: Sentiment moderates amid rising costs and slower growth
Fidelity International’s latest monthly analyst survey reveals that the outlook for management sentiment is moderating as costs continue to rise.
Generating excess returns with value investing in bonds
Generating excess returns with value investing in bonds
Rich Pickings podcast: Ready, steady, pitch! Analysts on their most exciting investment trends
"What is fascinating is the speed of innovation," says Portfolio Manager Aditya Khowala in this month's Rich Pickings.
After the selloff, what next for China equities?
A spate of regulatory actions across several sectors in China rattled markets and sent shares tumbling, but some of this selling appears overdone.
Anne Richards on corporate responsibility and sustainable investing
Fidelity's Chief Executive describes how the pandemic has reshaped the company and why sustainable investing is top of her agenda.
Chart Room: Gimme shelter (from inflation)
Shelter inflation continues to hold the key for forecasting inflation pressure in the US.
Chart Room: The value rally has further to go
Chart Room: The value rally has further to go
How big a threat is the ‘brown discount’?
Reducing emissions in line with the Paris Agreement will require most existing buildings to be retrofitted to protect long-term asset values.
ESGenius: Cows, methane and the climate threat
A number of pioneering methods to avoid or reduce atmospheric methane from livestock are catching the attention of investors focused on sustainability.
ESGenius: Fidelity research finds link between ESG and dividend growth
Our findings suggest that ESG leaders are more likely than ESG laggards to offer attractive levels of long-term dividend growth.
Chart Room: Why stock-bond correlations are turning positive
In the wake of Covid-19, US tech and consumer discretionary firms are leading a departure from the negative correlation between equities and bonds.
Planetary risk: Mapping climate pathways to macro and strategic asset allocation
A paper introducing the main points of consideration for integrating climate change outcomes into capital market assumptions.
Chart Room: Emerging market currencies left behind as commodity prices soar
The close relationship between commodity prices and emerging market currency returns has broken down this year.
The Investor's Guide to China podcast: China in the world
"Xi Jingping completely changed the mould," says Louis-Vincent Gave, CEO and Founder of Gavekal.
Macau rebound a test case for China’s outbound travel
The ‘Las Vegas of the East’ is betting its long-standing travel bubble with mainland China can endure.
Chart Room: What Japan’s digital transformation means for markets
After years as relative laggards, Japanese companies are diving headfirst into DX, or digital transformation, and investors should take notice.
June's Rich Pickings podcast: Where next for inflation
"The market will wonder: is The Fed talking more aggressively but actually still way behind the curve?" says CIO Andrew McCaffery in June's Rich Pickings.
Chart Room: Which sectors are most proactive in the race to net zero?
Companies need to be proactive about decarbonising if they are to survive - and flourish - in a net zero economy.
Chart Room: The crisis and opportunity in recycling single-use plastics
Production of single-use plastics is forecast to continue rising for the next decade-plus, and investment opportunities will depend greatly on recycling.
Policy credibility remains key macro risk following hawkish Fed meeting
Chair Powell says Fed is considering beginning discussions on tapering.
Chart Room: Stronger for longer for China’s renminbi?
Expectations for further renminbi appreciation have risen, but we think short-term gains could be capped from here.
Credit risk at China’s SOEs in focus amid Huarong saga
China’s bond and equity markets have been rattled by concerns that state-owned enterprises could face greater default risk.
Crisis at sea: One year on
Following action by Fidelity International along with other investors and trade bodies, the number of crew stranded at sea has halved since September 2020.
Chart Room: Fidelity analysts expect inflationary pressures to keep rising for now
Inflationary pressures are picking up, according to Fidelity International’s latest monthly analyst survey.
Apples and oranges: How to compare the carbon footprints of multi asset portfolios
Comparing the carbon footprints of multi asset portfolios
How Real Estate helps navigate the income challenge in a rapidly changing world
We are seeing significant structural changes in the way occupiers use their buildings and these changes are happening at pace.
Chart Room: China’s EV industry is charged for growth
The combination of falling battery costs and rising adoption rates means China's EV industry is charged for growth.
Chart Room: An uneven supercycle for commodities?
Most commodity prices have been strong this year, spurring talk of a potential supercycle. But the returns could be more dispersed from here.
Chart Room: Rapid reopening drives inflation higher
US headline consumer prices have risen at the fastest pace in 13 years due to positive base effects, rising energy prices and the reopening of the economy.
Rich Pickings podcast: The real workhorse of Asia Pacific
"Emerging growth versus value orientation and corporate governance changes makes for a really attractive region," says portfolio manager Dale Nicholls.
Central banks need to take action now on climate change
Central banks need to take action now on climate change
Chart Room: The rapid rise of digital payments in India
The technological transformation of India’s economy has accelerated in recent years, as can clearly be seen in the accelerating shift to digital transactions.
Chart Room: Why dividends make sense in an inflationary environment
History shows how dividend-focused investment strategies can provide sustainable income in a reflationary environment.
ESGenius: Biden’s ambitious climate plans could transform the US bond market
US ambitions to decarbonise the world’s largest economy could generate opportunities for bond investors.
Chart Room: China has fewer reasons to be hawkish
China's short-end rates remain low despite earlier expectations for monetary tightening.
Why India’s ‘fallen angel’ risk is rising
India’s ballooning debt levels amid a structural growth slowdown have raised the risks of an imminent downgrade by credit ratings agencies.
Chart Room: Equity volatility eases as Treasury yields rise
The VIX has fallen below a key technical level, suggesting a new wave of investor optimism.
The Investor's Guide to China podcast: Trade and growth
"Despite geopolitical friction capital flows to China look set not just to persist but to accelerate," says CIO for Asia Pacific, Paras Anand.
Chart Room: EM outperformance could be sustained, if commodities are a guide
This week’s Chart Room shows the historical correlation of EM equities with commodities, which suggests that the breakout could be sustained.
March's Rich Pickings podcast: The Testing of The Fed and other tales of central bank credibility
"Maintaining the debt is an important part of central banks' objectives even if they don't openly talk about it," says head of global macro Salman Ahmed.
Chart Room: Energy and industrials sectors to bounce back in 2021
Revenue growth this year could be strongest in the sectors worst affected by Covid-19, according to Fidelity International’s latest monthly analyst survey.
Investors should tread carefully around warehouses
Investor interest in logistics property has jumped but the surge in demand has left some parts of the market looking mispriced.
Chart Room: Retail investors pile into the fastest growing stocks
Retail investors' market participation is extreme not only in volume, but also concentration.
Chart Room: A Goldilocks spot for inflation-linked bonds
We see a sweet spot in inflation-linked bonds with maturities ranging from 1 year to 10 years.
Fed acknowledges change in reaction function
Fed reiterates guidance and maintains asset purchase programme, despite a significant upgrade to growth and inflation projections.
Flows vs friction
Growth opportunities in post-pandemic Asia are set to propel a long-term boom in equity capital markets, as the region draws in ever greater inflows.
Japanese companies are more sustainable than many believe
ESG is growing in importance for Japanese firms.
Chart Room: Corporate ESG focus reverts to pre-Covid priorities
An economic rebound could bring with it a reversion to pre-pandemic priorities in environmental, social and governance (ESG) factors.
Fidelity Live: The Analysts on ESG and the financial sector (webcast replay)
What asset managers can do to guide the financial sector in the right direction when it comes to sustainability.
Reflation revives outlook for UK equities
Signs of reflation are sparking hopes that UK equities will benefit from a vaccine-led reopening of the economy.
Sustainability is key for value creation
How should we quantify the valuation impact of sustainable investing?
Rich Pickings: The Analyst Survey episode
The results are in for Fidelity's annual Analyst Survey. We pick apart the key findings to discover what our sector experts expect for the year ahead.
Analyst Survey 2021: Counting down the days
Confidence is high despite the threat of new variants; ESG emphasis rises again.
Four real estate trends to watch as economies reopen
After a tumultuous 2020, we believe there are four main themes that will determine real estate trends for this year and the decade to come.
Market questions central bank credibility
Markets are testing central banks’ resolve to keep rates low.
Chart Room: Staying afloat amid a rising tide of debt
Central banks have been playing a key role in keeping higher debt loads affordable.
Chart Room: Keep an eye on housing rents when tracking inflation
Some key considerations make us more constructive on US rents for the year ahead, particularly soaring home purchase prices.
Policing the platforms: Why social media needs independent guidelines
Social media firms must create rules for content and independent oversight boards or they could face threats to their long-term viability.
Chart Room: Risk-on and on, with caveats
Caution and careful positioning are important from here, based on the latest readings from Fidelity’s risk aversion indicator.
What’s ahead for China’s markets in the Year of the Ox
Investors keen to see whether China’s bull market can keep charging ahead in the lunar Year of the Ox will be focused on recovery and monetary policy.
Fidelity's three sustainable investing themes for 2021
Fidelity sees three major sustainable investment trends taking shape in 2021.
Chart Room: Emerging markets and the reopening trade
Emerging EMEA (Europe, Middle East and Africa) and Latin American stocks are particularly well positioned to reap the benefits of reopening.
Chart Room: The return of the value super-cycle?
In this week’s Chart Room, we look at both sides of the long-standing debate between value and growth investment styles, as seen from both Europe and China.
China, the West and the rest: how vaccine rollouts are progressing
With little fanfare, China is firing on all cylinders to vaccinate tens of millions of people, even as domestic spread of the virus appears mild.
January's Rich Pickings podcast: The big vaccine rollout episode
"China's rebound is like watching a movie," says Portfolio Manager Amit Lodha in January's Rich Pickings.
Chart Room: After the Gold Rush
Is it time to take profits in gold?
ESGenius: Slashing emissions will fuel green growth for decades
Existing climate technologies can benefit from the huge investment required to decarbonise at pace.
January FLI update: Fiscal good news offsets near-term softening
The FLI Cycle Tracker remains in the ‘top-right’ quadrant with growth above trend and improving, albeit momentum has softened for a second month.
Chart Room: A liquidity tide for the record books
2020 brought us new high-water marks in the US for both money supply growth and the personal savings rate.
Rich Pickings podcast: (What) A Year in Review
For the final episode of the year Fidelity's Global Chief Investment Officer discusses the market history that was made and the lessons to take from 2020.
ESGenius: Democratic sweep could transform ESG regulation in the US
New political leadership could reverse US rules on sustainable investing.
Chart Room: Chinese stocks, playing catchup, finally retrace 2015 highs
But the rally in China’s main onshore index still lags its US and global counterparts.
Reflationary thesis strengthens as Democrats win slim Senate majority
Reflationary thesis strengthens as Democrats win slim Senate majority
Brexit agreement: A respite from uncertainty
What investors are looking at after UK exits the European Union
New survey finds silver linings to China’s pension challenges
As China faces the formidable task of building a private pension industry from scratch, it can count on the blessing of residents’ financial wellness.
Chart Room: China government bond yields catch their breath
Chart Room: China government bond yields catch their breath
Three sustainable investing themes for 2021
Climate change combined with nature loss, employee welfare and digital ethics are core engagement themes for 2021.
Fidelity International on Asset TV's ESG masterclass
Portfolio Manager Dhananjay Phadnis joins peers from Nuveen and Redington in this ESG masterclass.
Fidelity Live: CIO Outlook 2021 - replay
Our CIOs share their outlook for the year ahead.
Offices are not dead, but they will need to evolve
Despite the surge in working from home in 2020, offices will remain vital for many types of business. But they will need to evolve.
Chart Room: Weakening dollar gives emerging markets a shot in the arm
Emerging markets may be helped further along by the weaker outlook for the US dollar.
Unlocking India’s structural opportunities: 10 charts
Reforms and new infrastructure paving the way for manufacturing investment and employment will be key to unlocking India’s next stage of development.
China stewardship podcast: Witness an evolution
Hear what exclusive research on shareholder action in China says about the changing face of Chinese companies and their investors.
Chart Room: Deploying the fiscal firehose
Chart Room: Deploying the fiscal firehose
Building solid foundations: Fidelity International China Stewardship Report 2020
Fidelity International's inaugural China Stewardship Report shows steady progress in investment stewardship and implementing ESG at domestic A-share companies.
The Investor's Guide to China podcast: Belt and Road
What China's flagship economic initiative can tell investors about the country and where it goes next.
November's Rich Pickings: Outlook 2021
Fidelity's chief investment officers discuss the paths they're taking in the year ahead.
Real estate in 2021: Unique challenges will accelerate structural trends
Offices will continue to be in demand post-Covid, but their usage will evolve.
Real estate in 2021: Unique challenges will accelerate structural trends
Offices will continue to be in demand post-Covid, but their usage will evolve.
Chart Room: Oil vs gold - two sides of the reopening trade
Chart Room: Oil vs gold - two sides of the reopening trade
Fidelity Analyst Survey: Company debt may have peaked already
While most analysts expect debt levels at their companies to stay the same or fall next year, it is becoming a greater factor in management decision making.
China bond defaults signal a coming of age as state safety net shrinks
Bond defaults by state-owned enterprises have rattled China’s onshore credit markets. We see this as an important if painful step in curtailing moral hazard.
Chart Room: Asia’s export engine supercharged by new trade deal
Chart Room: Asia’s export engine supercharged by new trade deal
European high yield: The curious case of the defaults that didn’t happen
At the height of the March crash, defaults looked set to soar. The reality turned out to be very different.
Chart Room: The clear link between ESG and returns
How have stocks that scored high for Environmental, Social and Governance (ESG) factors held up amid the Covid-19 fallout?
China takes aim at trash
A massive nationwide effort is underway to improve China's waste management systems.
Fidelity Leading Indicator extends strong momentum of recovery
FLI-implied activity appears to be heading to levels only slightly below the pre-COVID peak, despite pockets of impact from renewed mobility restrictions.
US Elections: As the dust settles
Beyond the elections, the longer-term focus is on the US domestic economy, regionalisation of global trade, and the resilience of emerging and Asian markets.
Chart Room: Some sectors may be set for a margin squeeze
The latest reading from our monthly analyst survey shows which companies are struggling with inflationary pressure but also weaker pricing power.
US election outcomes: Implications for growth and policy
US election Outcomes: Implications for growth and policy
Putting sustainability to the test: ESG outperformance amid volatility
Resarch that puts sustainable investing to the test: ESG outperformance amid volatility
Growth targets take a backseat in China’s new economic plan
Domestic consumption and technology growth will be prioritised as the government reveals overarching guidelines for the country’s 14th five-year plan.
ECB signals further stimulus as double dip recession chances spike
Despite taking no action at the October meeting, the European Central Bank (ECB) laid the groundwork for further easing at its next meeting in December.
Chart Room: Correlations boil and bubble 🎃 and may spell toil and trouble 🦇
In this follow-up special Halloween edition of Chart Room, we look at how correlations are casting a spell over markets.
US elections podcast: The very different fiscal scenarios
Fidelity's Global Head of Macro Salman Ahmed on why the US is on the verge of an economic paradigm shift.
The hidden dragon of 2020
As global investors scramble to digest paradigm shifts, another change of seismic scale has gone under-noticed in a year full of twists and turns.
Fidelity Analyst Survey: Sentiment improves again but could be nearing plateau
October’s survey of Fidelity International’s analysts reveals that sentiment and leading indicators are once again incrementally better than last month.
ESGenius: Strong sustainability credentials can signal resilience
Covid-19 has shown how a focus on sustainability can help companies act fast when an unexpected crisis hits, and make them more resilient to new threats.
Chart Room: Government debt climbs to spooky heights
In this special Halloween edition Chart Room (part 1 of 2), we look at the frightening levels of government debt around the world.
Fidelity live: CIOs October webcast (replay)
Our CIOs take stock of Q3, discuss the macro outlook for the next quarter, and give an update on trading.
Fidelity live: Analysts' ESG webcast (replay)
In this webcast our Head of Global Research together with our analysts share a unique view of the world from the bottom up.
ESGenius: Insurance companies neglect sustainability at their peril
Fidelity research shows disparity in how sustainability is viewed across insurance sector.
Mapping US election tail risks: a framework-based approach
Mapping US election tail risks: a framework-based approach
Chart Room: Why growth still has room to grow in China equities
The valuation premium for China growth stocks versus value stocks hit a new all-time high, lifted by the consumer, tech and healthcare sectors.
October's CIO podcast: Strength in numbers
Fidelity International's Chief Investment Officer Andrew McCaffery gives his latest analysis of markets and what it means for investors.
Fidelity Leading Indicator shows record short-term growth momentum
All sectors are exhibiting significant strength, as policymakers seek to bridge economies to the hoped-for 2021 vaccine rollout.
Chart room: European cyclicals vulnerable if manufacturing data moderates
Any moderation in the growth of new manufacturing orders could make cyclicals vulnerable to a de-rating.
The inflation puzzle and how to tackle it
Will inflation return despite dis-inflationary forces?
Fidelity International on Asset TV's ESG Masterclass
Jenn-Hui Tan features on this ESG masterclass panel, discussing everything from process and data to returns and China’s sustainable response to Covid.
Swinging 60s inflation pattern due a comeback
The years between 1964-75, a time of fiscal expansion and low rates, shows why inflation might come back faster than some think.
Bike sheds and powerplants: Corporate governance in an uncertain world
For a board attempting to govern a company in this uncertain world, breaking Parkinson's Law of Triviality has never been so crucial.
September's Rich Pickings podcast: Allocating for recovery
"The market is underestimating inflation. Reduce duration and look for income," says Chief Investment Officer Steve Ellis, in this month's Rich Pickings.
Japan: Suganomics > Abenomics?
Japan: Suganomics > Abenomics?
Chart Room: Is disinflation lurking around the corner?
In a bullish signal, the bond market’s short-term expectations for US inflation are back near pre-crisis levels. But are investors being overly optimistic?
Podcast: The future of... banking
"Banks are increasingly fulfilling a social role," says cross-asset analyst Federico Wynne.
Analyst Survey podcast: The world catches up with China
Listen to the latest Analyst Survey podcast to hear what Fidelity's almost 150 analysts saying about the state of the corporate world.
ESGenius: Getting ‘hydrogen ready’
Hydrogen demand could increase seven-fold by 2050.
Chart Room: Why some tech valuations may be lower than you think
A closer look at longer-term valuations reveals some surprising trends in tech.
Analyst Pulse Survey: Companies are restructuring, but are they resilient?
Certain sectors will need to do more to be resilient in the face of diminishing government support and possible infection rate rises.
Near-zero rates expected through 2023 amid Fed concern about the economy
Fed offers forward guidance following shift in inflation targeting framework.
Boosting sea legs
The Covid-19 pandemic has left numerous seafarers stranded. Fidelity is acting fast to sound the alarm on an issue of global humanitarian concern.
ESGenius: Getting to net zero in real estate
ESGenius: Getting to net zero in real estate
Chart Room: Emerging market currencies lag on inflation risks
EM countries are using some of the same monetary and fiscal measures as developed markets. But this could add to rising inflation and currency weakness.
Fidelity Leading Indicator signals broad-based recovery
Four out of five FLI sectors are experiencing both growth and acceleration, with only Consumer and Labour lagging.
CIO update podcast: How to spot resilience
CIO Andrew McCaffery on market sentiment, Fed commitments, and what we mean by resilience.
Fidelity CIOs: Focus on resilience
Greater focus on resilience and sustainability is benefiting domestic economies and altering supply chains.
Chart Room: China’s Covid rebound puts the ‘V’ in investment
Fixed asset investment (FAI) in China has recovered to its pre-Covid levels of growth, with infrastructure and property driving the nation’s broader economy.
A to-do list for Japan’s next prime minister
Ensuring fiscal and monetary policy continuity while overseeing Japan's response to the Covid-19 crisis will be top priorities for Shinzo Abe's successor.
Fed resets framework for greater flexibility
Rates likely to remain low even if inflation moderately overshoots target.
Chart Room: The resilience of China’s onshore stocks
China’s onshore stocks (A-shares) have outperformed their Hong Kong and overseas listed counterparts, but their valuations are relatively undemanding.
Why India could be the next breeding ground for tech unicorns
The Silicon Valley giants are shifting their attention to India as the next big growth market.
China property: Built for the long run
Facing challenges in their core business of building and selling new homes, Chinese real estate developers have found an alternative source of revenue.
Chart Room: A new record high for US stocks, but mind the lopsided valuations
The average European bank capital ratio has never been stronger. This has led to a stark contrast in returns across bank capital structures.
GEARs: Bursting through the ceiling?
Fidelity International’s GEAR (Gauges of Economic Activity in Real Time) activity indicators continue to rebound strongly.
Fidelity’s August Pulse Survey: Preparing for a second wave of Covid-19
Fidelity’s August Pulse Survey: Preparing for a second wave of Covid-19
The connectivity revolution is only just beginning
Most investment opportunities from unprecedented connectivity lie in the future.
Overweight autos: The road less travelled
Despite the risks, we believe that the auto sector now presents an investment opportunity.
Chart Room: US debt delinquencies drop, but recession looms as unemployment surges
Household debt forbearance measures have given a temporary boost to borrowers in the US. But as unemployment surges, more supportive measures will be needed.
Fidelity Leading Indicator points to weak recovery
Business sentiment and trade are improving, among signals of a fragile recovery, but consumer confidence and industrial orders lag.
ESGenius: Overcoming fast fashion’s hidden costs
ESGenius: Overcoming fast fashion’s hidden costs
The Investor's Guide to China podcast: Consumers
"Premiumisation and technology-driven innovative business models are two areas where growth potential is underestimated," says Portfolio Manager Hyomi Jie.
Chart Room: European banks’ CoCo bonds soar while equities slump
The average European bank capital ratio has never been stronger. This has led to a stark contrast in returns across bank capital structures.
ESGenius: On governance, and spotting corporate cons
ESGenius: On governance, and spotting corporate cons
Chinese banks are due for national service
As governments around the world exhaust their policy arsenals to save economies, China is reaching for a secret weapon unrivaled by most countries.
A heavy outlook for the US Dollar
The relentless spread of Covid-19 across the US and improving risk sentiment elsewhere is crimping demand for the safe-haven reserve currency.
Biden is the change candidate in the US elections
Democrat hopeful Joe Biden is the current favourite to win in November's US presidential elections, but it is too early to take a firm view.
July's Rich Pickings podcast: Beware the consensus - what the US election means for investors
"There are more similarities between Trump and Biden than people realise," says Portfolio Manager Aditya Khowala in this month's Rich Pickings.
With nowhere to go, Chinese tourists spend closer to home
Most travel destinations remain off-limits, and as Chinese people’s savings have increased, so has their pent-up demand and desire to treat themselves.
Crisis accelerates trends in European real estate
The implications of the Covid-19 pandemic for European real estate investors
Fidelity live: CIOs webcast replay
As the world emerges from lockdown, hear our CIOs discuss their outlook for the next quarter and beyond.
Fidelity live: Analysts webcast replay
Hear from our Head of Research and two of our analysts on the ground as they share the thoughts from over 160 of their analyst peers around the world.
Using gold to hedge an extreme world
Gold can act as a useful hedge against future financial distress and potential selloffs in risk assets
Fidelity CIO Outlook Q3: Nearing the limit
Markets will struggle to surpass second quarter rebound.
Chart Room: Robots on the rise in a post-Covid world
We think factory automation will accelerate further in a post-Covid world, as machines don’t get sick and can work continuously excluding maintenance.
Landmark EU deal may lead to better economic outcomes
EU Recovery Fund marks new chapter for Union.
The Fidelity Leading Indicator finds a floor
The FLI now points to a quarterly contraction about 125 per cent of the magnitude of that seen in the depth of the GFC.
July’s Fidelity International Pulse Survey: Falling costs find some support
July’s Fidelity International Pulse Survey: Falling costs find some support
Covid health code reveals China’s big data edge
A key to China’s success in containing the coronavirus, the health code’s propagation evinces a major advantage in big data development.
Chart Room: Why China government bonds have underperformed other markets
China government bond yields are diverging from other major government bond markets.
July's CIO update: What to expect this summer
Andrew McCaffery on Q3, Fidelity's new normal, and the continued rise of ESG.
ESGenius: Due diligence on Wirecard revealed that the sums didn’t add up
For investors focused on sustainability and governance, the warning signs of financial misreporting were there for some time.
Chart Room: Chinese consumers’ growing preference for local brands
The Covid-19 experience is spurring changes in behavior among Chinese consumers. Among these is a growing preference for domestic brands over foreign ones.
The future of energy podcast: the 1.5 trillion dollar question
"I do think that [the pandemic], for the power industry, is going to make it have a more green generation mix," says analyst Christine Miyagishima.
Infrastructure: A broad universe with diverse benefits and risks
Real assets and infrastructure can offer stable, inflation-linked returns, relatively high yield and diversification of risk.
Post-Covid environment offers new testing ground for sustainable growth in China
China’s nascent trend in ESG investing appears to be alive and well despite the disruption caused by the Covid-19 pandemic.
Chart Room: Asian equities diverge, creating opportunities
The difference in performance between equity markets in East Asia and South Asia (India, ASEAN nations) is the largest in nearly 15 years.
Macroeconomic update: Taking the elevator down and the stairs back up
We have downgraded our 2020 growth numbers for all three scenarios, across both developed markets and emerging markets.
June's Rich Pickings podcast: Know your enemy
"The anaesthetist has shown up to give morphine [to the global economy] but the doctor's still not shown up to do surgery," says Portfolio Manager Amit Lodha.
Finding genuinely defensive ways to diversify portfolios
What constitutes a defensive asset in the time of Covid-19?
Sustainable investing: Accelerating evolution
The assumption that shareholder returns should be maximised at any cost has been challenged.
Chart room: US employment may have begun to recover, but there’s a long way to go
Employment has plunged to a deeper trough in 2020 than in previous recessions
The New Prime: Cashflow trumps location for real estate investors
The New Prime: Cashflow trumps location for real estate investors
Elections in the time of coronavirus and recession
Elections in the time of coronavirus and recession
US-China trade war: The chips are down for tech supply chains
The latest front in the US-China trade war centers on tighter sanctions on the Chinese tech giant Huawei.
GEARs: China roars while the global economy snores
Our Gauges of Economic Activity in Real time (GEARs), a proxy for three-month annualised growth, improved this month but remain in extreme hibernation.
European retail recovers, but luxury needs big spenders
It is still unclear time how much of this recovery is just pent-up demand that will subside and how much of it is sustainable as furlough support fades.
Successful shareholder engagement is a long journey
A case study of Fidelity International's multi-year engagement with Kirin in Japan shows that successful shareholder engagement is a long journey
BoE will need to act again, with negative rates still a possibility
The Bank boosted its QE by £100bn
Chart room: Despite a recent rally, high yield bonds still look cheap
For US high yield, valuations look historically cheap on a relative basis - especially when compared to equities.
Fidelity International Pulse Survey: 10 months of disruption remain
Fidelity International’s June survey of 149 analysts finds that activity in most sectors and regions is expected to return to a stable level in under a year.
Podcast: The future of... connectivity
"After this, I don't think any law-maker will disagree that telecom connectivity is as important as any other utility," says portfolio manager Sumant Wahi.
Dislocation, dislocation, dislocation: Opportunities in UK real estate
Opportunities in UK real estate amid Covid-19
Inflation outlook: Disinflation for now, but future depends on policy choices
Inflation outlook: Disinflation for now, but future depends on policy choices
CIO update podcast: Markets versus the real economy
Exploring the dissonance between buoyant markets and gloomy economic data. Meanwhile, US election and Brexit are back on the news agenda!
Chart room: Another false dawn for value stocks?
Over the past decade, previous periods of value outperformance have been short-lived. Will this time be different?
Fed in a holding pattern, for now
Trajectory of the recovery remains uncertain despite better employment figures in May.
ESGenius: A sustainability lens can help discern the trends that matter
By focusing on the sustainability of businesses, we can differentiate between the drivers that are fleeting, and those that are truly influential.
Valuations come to the fore in Hong Kong
Hong Kong equity valuations have been torpedoed by a slew of negative events, we see opportunities here for long-term investors.
FLI takes another leg down despite lockdowns easing
The FLI now points to a quarterly contraction about 125 per cent of the magnitude of that seen in the depth of the GFC.
Japanification in 12 charts
Many western economies are mirroring Japan’s experience over the past 30 years.These 12 charts show how some of the key trends are playing out.
ECB pleases markets with additional €600bn stimulus
The central bank has increased the size of its pandemic stimulus package to €1.35 trillion
Chart Room: QE expectations vs. reality, market moves
Market expectations of future asset purchases by the Fed have an even greater influence than the purchases themselves.
Public equity markets are flagging when we need them the most
Revived public equity markets will be needed to recapitalise additional debt burdens resulting from the Covid-19 crisis response.
When Wall Street wakes up to Main Street
When Wall Street wakes up to Main Street
Fidelity CIO: Thinking differently about diversification
Portfolios may need to encompass a broader range of assets than in the past.
Central banks in emerging markets hop on the bond-buying bandwagon
EM central bankers are taking a page from the developed-market playbook and purchasing local bonds as a way to cushion the blow
Macro briefing: EU Commission unveils historic aid package tied to Green Deal
The EU package is structured in the form of €500 billion of grants while the remaining €250 billion will be made available as loans.
Chart Room: Mobility data shows most economies are rebounding slowly
Economic activity is being determined by virus response rather than slower-moving traditional industrial cycles. We need to adjust our toolkits accordingly.
Hong Kong and the relevance of economic resilience
Markets recently reflected uncertainty over Hong Kong’s status as a centre for international finance, but investors would do well to take a longer-term view.
Is the US turning Japanese?
A higher post-coronavirus savings rate in the US risks pushing the country into a low growth spiral similar to that which first ensnared Japan 30 years ago.
The end of the journey to the West: Chinese tech firms come home
The tides of global capital markets have turned for Chinese tech firms. Instead of US listings, they are starting to find greater China more compelling.
China again primes growth with infrastructure investment
With exports expected to slump and consumption still struggling to fully recover, China is turning to a familiar playbook - infrastructure spending.