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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.
The Investor's Guide to China podcast: Technology and innovation
"Artificial intelligence and specifically deep learning is where China is going to be the leader," says Senior Technology Analyst Johnny Tseng.
Fund may open door to larger scale debt mutualisation
The fund marks a major step towards a stronger common fiscal policy as it will be administered through the EU’s budget and financed by EU-issued debt.
Defying gravity: How long can monetary-driven markets ignore economic reality?
How long can central bank stimulus enable markets to defy gravity from Covid-19 reality?
Chart Room: Beware the narrowing market
Equity market performance is now at its narrowest since the 2008 Financial Crisis, with the rally riding on a dwindling number of large-cap growth stocks.
May's Rich Pickings podcast: The case against inflation
Why inflation will be some way off - and how portfolios are being adjusted as the old rules are torn up.
These 8 charts suggest cautious consumer sentiment in China's Covid-19 rebound
These 8 charts suggest cautious consumer sentiment in China's Covid-19 rebound
Fidelity CIOs: Effects of monetary explosion
The sheer scale of central bank action could store up problems for the future.
EU recovery fund: A step forward, but time is running out
Germany and France have agreed to some form for debt mutualisation but the rest of the EU states will have to agree
Fidelity Pulse Survey: Society’s big moment
Fidelity's May survey of 145 analysts found that the Covid-19 crisis is focusing companies' attention on social issues.
Podcast: The future of... retail and real estate: liquidity, liquidity, liquidity
As the pandemic changes consumer behaviour - perhaps permanently - we look at what the future of retail and its associated real estate could look like.
Macro briefing: More stimulus expected, but will it be enough?
New figures show that more than 2.9 million workers applied for unemployment benefits, taking the total count to 36.5 million applications in two months.
Chart Room: Mind the valuations
After recent rebounds in stocks and bonds, we take a quick look at valuations and how they stack up against history.
Fidelity CIOs: Spotlight on solvency
Balance sheets come under scrutiny.
CEO update podcast: Anne Richards on resilience and reinvention
Fidelity CEO Anne Richards explores what has to change in supply chains, corporate aims, and capitalism itself.
Fidelity Leading Indicator shows broad weakness as the focus turns to recovery
The three-month Fidelity Leading Indicator growth rate is already halfway to the Global Financial Crisis trough.
How India’s economy is navigating Covid-19
As the world begins to come out of lockdowns and economies normalise, India can offer bright spots for emerging market investors.
Macro briefing: German court ruling may reduce ECB firepower
The German court ruling poses long-term risks to ECB's flexibility
China’s tourists step out again
Over 100 million travellers in China hit the road over the five-day May Day holiday, the first big test for tourism since lockdowns started being lifted.
“Just in case” and the case for conditionality
This crisis has shown us that contingency planning is as important as risk mitigation and supply chain optimisation.
Chart Room: What in the world is going on with gold?
The correlation between gold and equities has increased to an 18-month high, calling into question the metal’s usual benefit as a porfolio diversifier.
The New Economic Order
We believe the Covid-19 crisis will trigger a step-change in policy, accelerate existing trends and transform investment frameworks.
Oil tankers gush profits as global storage space overflows
Oil tankers are earning windfall profits - but how long can this situation last?
CIO update podcast: International cooperation needed
CIO Andrew McCaffery on the why a V-shaped recovery is unlikely and why greater international cooperation is needed to avoid long-lasting damage.
ECB: Whatever it takes, a thousand times over
ECB introduces pandemic emergency refinancing operations.
Macro briefing: Central banks prepare for further action as economic outlook darkens
The Eurozone economy contracted at the fastest rate on record in Q1
Fed holds fire for now, but ready for further action
The Fed Reserve made it clear that it is prepared to intervene further if required
Fidelity CIO: Society’s focus on sustainability and resilience to go parabolic
Fidelity analysis shows companies with higher ESG scores outperformed during the March sell-off.
Chart Room: More policy easing supports China bonds
This week’s Chart Room shows how ample liquidity is helping China’s onshore bond markets navigate around global volatility.
The BOJ expands purchases and eases further
The BOJ expands purchases and eases further
Liquidity briefing: Still on the right track
Liquidity remains on the right track, especially in markets that have benefited from central bank action, but is still lower than pre-coronavirus standards.
A shelter from the storm, for now: China’s bond market set to open further
When global fixed income investors scrambled for cover last month, China’s onshore bond market was a rare haven with low volatility and no liquidity crunch.
Macro briefing: ECB relaxes collateral rules to accept junk bonds
ECB’s decision comes ahead of S&P Global Ratings’ review of Italy’s credit rating
April's Rich Pickings podcast: Where we go from here
"I am quite surprised by the optimism of markets," says portfolio manager Jeremy Podger in this month's Rich Pickings.
Chart room: Beauty of big tech stocks is in the eye of the beholder
Our latest Chart Room takes a comparative look at the long run up in the Nasdaq 100 index.
Fidelity CIOs: Dispersion increases as demand effects filter through
Investors become more selective as demand shock hits oil price and other sectors.
Oil below zero: bad, but not that bad
Oil fundamentals are weak - but Monday’s price move should be seen as an outlier.
How to think about dividend cuts
A spate of dividend reductions or postponements has raised concerns among investors globally. But not all dividend cuts are created equal.
Macro briefing: Fed extends its reach to support employment
The Fed is now using all creative tools at its disposal to mitigate the surge of layoffs in the US.
Liquidity briefing: Further signs of improvement
Central bank measures have helped improve liquidity conditions.
China’s economy is turning the corner after a historically bad GDP contraction
China’s economy is turning the corner after a historically bad GDP contraction
Fidelity CIO: Possible economic scenarios
Challenges lie ahead for the global economy.
Survival and sustainability
Research into ESG factors and the Feb-March bear market
Chart Room: Fidelity analysts expect longer disruptions from Covid-19
Chart Room: Fidelity analysts expect longer disruptions from Covid-19
Outrunning a crisis: Sustainability and market outperformance
Outrunning a crisis: Sustainability and market performance
Eurozone: Mutual seems to be the hardest word
If the current Covid-19 emergency isn’t enough to spur the European Union member states into combining forces on debt, then the question is when.
Fidelity Pulse Survey: The coming solvency squeeze
The global shutdown will put a significant dent in corporate earnings this year, according to 150 Fidelity analysts surveyed this month.
Downgrade risks when zombies become fallen angels
The high yield bond market prepares for an influx of downgraded investment grade debt.
Tenant resilience is key as rental recovery rates fall
Real estate investors are fast having to learn that sustainability of cashflow is perhaps just as important, if not more so, than location.
Macro briefing: Clock ticking on further fiscal support
Macro briefing: Clock ticking on further fiscal support
Liquidity briefing: Signs of easing
Liquidity briefing: Signs of easing
Chart room: Japanification and the rise of the widow maker trade
Chart room: Japanification and the rise of the widow maker trade
Delayed demand making its return to China’s property market
New home sales are recovering faster than expected in China. This has big implications for domestic demand and the macroeconomic outlook.
Spiking US unemployment could unleash a cascade of systemic risks
The unprecedented rise in US unemployment has the potential to set off a chain of events that could destabilize already fragile markets.
Valuing companies in an economic shutdown
Methods to value companies will have to adapt to the economic shutdown
Crisis drives shift in public/private relationship not seen since WWII
State aid for companies is likely to come with conditions attached.
FLI: Consumer pain leads the way
The three-month Fidelity Leading Indicator growth rate is already halfway to the Global Financial Crisis trough.
EU’s €1 trillion Green Deal could aid post-crisis recovery
The EU's Green Deal faces political and financial challenges, but the direction of travel is clear.
Liquidity briefing: A long way from normal
Despite some stabilisation, liquidity levels still remain far from satisfactory
Podcast: Positioning for a post-pandemic world
"We're going to be in an environment with a much more purpose-driven corporate sector," says Chief Investment Officer for Asia Pacific Paras Anand.
Fidelity CIO Podcast: Finding value and income
Opportunities for value and income as volatility lessens.
Strong underpinnings to Asia’s investment grade bond market
Asia’s investment grade bond market looks attractive as we continue working through the Covid-19 outbreak, and global coordinated stimulus take effect.
Macro briefing: Data weak as new measures keep coming
Macro briefing: Data weak as new measures keep coming
Chart room: Governments open their fiscal taps
Doing "whatever it takes".
The view from Hong Kong
Corporate China’s path as it emerges from economic lockdown may point the way for the rest of the world.
What recent market moves imply about the US economic outlook
We take a look at 20 years of data to estimate the hit to the US economy being priced in by equity and credit markets.
Finding opportunities in fixed income markets
Dislocations in credit valuations present an opportunity for active managers to add exposure selectively in specific areas.
Fidelity CIOs: A new paradigm
The Covid crisis is accelerating changes already underway.
Inflation expectations close to nadir
Low Inflation expectations mean breakevens nolw look attractively priced
Liquidity briefing: Spread levels improve
A market liquidity update from the Fixed Income team at Fidelity
Chart room: The dash for dollars
Currency basis swap rates reflect dollar liquidity squeeze.
Market distortions could provide opportunities for long-term investors
Market volatility is throwing up opportunities for long-term investors in companies and sectors which are expected to survive the current crisis.
Macro briefing: Heavyweight policies launched but more may be required
Macro briefing: Heavyweight policies launched but more may be required
Analysing the shift from bad to less bad
The stimulus to fight the economic shutdown in the wake of the coronavirus is second only to the Marshall Plan following the Second World War.
Not business as usual
Global health, monetary and fiscal policy are converging to triage the worst impacts of the Covid-19 coronavirus outbreak, but they come with a cost.
A cautious consumer rebound takes hold in China
Chinese consumers are offering a ray of hope in the economic wreckage from the Covid-19 coronavirus
Massive US fiscal package needs effective implementation
A rescue package for ‘Main Street’ has been agreed. This far-reaching deal unlocks funds to support the US economy, but implementation is crucial.
Fidelity CIOs: Dollar devaluation could be the end game from Fed actions
Fiscal and monetary stimulus could weaken the dollar and be inflationary.
China and its neighbours reboot supply chains
As China’s economy emerges from lockdown, activity across Asia’s sprawling network of factories, ports and logistics hubs is picking up.
Tackling liquidity challenges in equity and bond markets
Despite recent central bank action, market liquidity is expected to be tight in the near term while volatility remains high.
Fed unleashes unprecedented QE, but unclear if Congress will act soon enough
The Fed has launched QE infinity, committing to unlimited purchases of government bonds and mortgage backed securities.
Fidelity CIOs on market conditions and whether policy action is enough
Flat is becoming the new up.
Bolder Fed action needed to restore market confidence
The Fed needs to increase the size and scope of its existing QE programme.
Recession is here - how bad will it be?
Recession is here - how bad will it be?
European IG: With volatility comes opportunity, but discipline is key
Recent price dislocations means the long run return potential of European investment grade bonds is positive, but prepare for continued volatility
Coronavirus and the new reality
How should markets navigate the new reality of economic shutdown due to the coronavirus?
Why the coronavirus crisis is more like 1918 than 2008
Why the coronavirus crisis is more like 1918 than 2008
Ways to navigate volatile markets
Protection in the form of safe haven assets, portfolio diversification and volatility insurance will be increasingly important for investors
Bank of Japan’s coordinated easing signals more proactive asset purchases
Today’s move by the Bank of Japan to boost asset purchases underscores a globally coordinated effort by central banks to contain the coronavirus fallout.
Three long-term calls
Here are three big themes that are likely to persevere through the current volatility and rotation in market leadership.
The Fed reaches for the entire arsenal
The Fed reaches for the entire arsenal
March's Rich Pickings podcasts: CIOs and portfolio managers on navigating stormy markets
March's Rich Pickings podcasts: CIOs and portfolio managers on navigating stormy markets
Fidelity analysts say China will lead recovery from virus
Fidelity analysts say China will lead recovery from virus
Limited correction likely in European real estate
Limited correction likely in European real estate
China gets back to business
How fast and how fully activity recovers in China will have huge implications for one of the world’s key economic growth engines.
Fed dusts off crisis playbook with massive liquidity injection
Ultra-low interest rates and asset purchases will be with us for a long time yet.
ECB: Not another “whatever it takes” moment, but a smart move nonetheless
The ECB unveiled a targeted stimulus package but kept rates unchanged.
As gold’s surge draws wider interest, miners shine too
Gold's lustre is also rubbing off on the companies that dig it up from the ground.
Fidelity CIOs on the response needed to stabilise the markets
Fidelity CIOs on the response needed to stabilise the markets following coronavirus and oil shocks
Will ECB's Lagarde reach for the bazooka to avoid European liquidity crisis?
Tomorrow Christine Lagarde, head of the ECB, gets her chance to calm markets. Will she reach for the bazooka?
Oil price war set to escalate
The oil price war between Russia and Saudi Arabia is still in escalation mode - and things could get worse before they get better.
UK Treasury and BOE unveil ‘comprehensive’ stimulus package to combat virus effects
BOE and Treasury action on the same day signals the policymakers’ preparedness to respond.
FLI: Consumer confidence holds up amid broad-based slowdown
For the first time in two years the Fidelity Leading Indicator cycle tracker signals both below-trend growth and deceleration.
Cool Heads: Fidelity CIOs on oil crash, volatility and what's next
Managing liquidity is key.
Your move, governments
Markets are reacting to two shocks in one day: an oil price drop and coronavirus risk. They form a clear catalyst for fiscal policy action.
Ask the Analysts: How are your companies dealing with Coronavirus?
As the business impact of Coronavirus grows, Fidelity analysts describe the level of preparedness that they are observing amongst their companies.
A supply and demand shock for oil markets
Expectations of a demand shock due to the Covid-19 coronavirus collided with an anticipated supply surge after OPEC+ had a major fallout over production cuts.
Fundamentals podcast: Tesla, VW, and the big electric bet
As Tesla and Volkswagen make big pushes to bring electric vehicles to the mass market we ask whether 2020 is the year EVs finally put their foot to the floor.
Markets to focus on a narrower field in US presidential race
Markets to focus on a narrower field in US presidential race
Fed's emergency cut is a strong signal to markets
The US Federal Reserve has issued an emergency 50bps cut to allay coronavirus fears ahead of its monetary policy meeting in March.
Coronavirus: Seven themes to watch in bond markets
Ways to judge how long this episode may last.
Coronavirus: will there be a global recession?
Market expectations of intervention remain high.
A Billy Beane guide to markets
A Billy Beane guide to markets
Outbreak deepens China’s e-commerce push
While the coronavirus threatens to put a dent in China’s overall growth, pockets of the online economy are booming.
February's Rich Pickings podcast: Coronavirus - the view from China
"Unorthodox policy may have to meet an unorthodox situation," says head of fixed income in Asia, Bryan Collins, in this month's Rich Pickings.
Europe catches coronavirus: Inside the market sell-off
European equity and debt markets flipped from exuberance to pessimism after the coronavirus spread to Northern Italy.
Markets flash volatility on, risk off, but pockets of resilience remain
Risk assets extended their recent selloff, but amid the renewed volatility are some areas of unexpected outperformance.
How to avoid the bond 'greenium'
The recent rush for green bonds has often made them more expensive than ordinary bonds, despite offering the same returns.
When the playbook stops working
Why did markets wait so long to sell off in the wake of the Covid-19 coronavirus outbreak?
Cool Heads: Coronavirus hits global markets
Amit Lodha and Judith Finegold discuss the emerging investment implications as the coronavirus spreads beyond Asia to Europe and the Middle East.
White paper: Active share and index concentration
We examine active share, and assess how its value as a tool for evaluating portfolios and investment managers can vary with the underlying benchmark index.
How to navigate China's economic lockdown
The Covid-19 coronavirus outbreak has delivered an exogenous shock to China’s economy, one that has ramifications for global growth.
Covid-19: The impact on supply chains
The outbreak of a novel coronavirus from China, known as Covid-19, is putting pressure on supply chains across multiple sectors.
The Investor's Guide to China podcast: Environment
Fidelity's China and sustainability experts put the country's environmental record and ambitions under the investment lens.
A growing chasm
Optimism over a trade truce between the US and China is premature. Investors should be prepared for divergence in key areas.
Market volatility spikes on coronavirus impact
How should investors respond to the uncertainty caused by the coronavirus outbreak, and the volatility it may create?
Fidelity Leading Indicator signals slowing global growth as coronavirus impact looms
The economic impact of the novel coronavirus outbreak is only just beginning to be captured by the latest FLI reading.
Coronavirus: the impact on our global economic outlook
Global growth shock in a world of limited policy tools.
Cool Heads: Coronavirus
Markets respond to liquidity injection, but longer-term impact remains unclear.
China’s financial support targets second-order fallout from coronavirus
China’s healthcare workers have been struggling to contain the spread of coronavirus. Now, policymakers are grappling with the second-order financial effects.
January's Rich Pickings podcast: Counting the cost of a pandemic
"I think concern is right, I'd avoid hysteria; we need to ground ourselves in the data," says Director of Equities Terry Raven in this month's Rich Pickings.
Coronavirus: Sector impacts and lessons from SARS
Online businesses typically faring better than offline.
BOE shies away from insurance cut and prays for sustainable growth
The BoE held rates at its first meeting of the new year and its last before the UK leaves the EU
Fed prolongs expansion for those left behind
Fed funds rate remains unchanged amid strong labour market.
Coronavirus impact: Fund manager views from Asia
Our fund managers give their views on the possible short- and long-term implications of this outbreak for investors.
ECB’s Strategic Review gives investors plenty to think about
The ECB held interest rates steady, but the focus of the meeting was on the announcement of its new Strategic Review.
Putin's succession problem
Russia's unexpected change of government highlights Putin's succession problem
US China Phase 1: Apocalypse Postponed
'Phase 1’ of the US- China trade pact reveals no credible path forward, so instead the two sides have chosen to stand still
Investment Outlook Q1 2020: Slowing but going
Overall, 2020 looks to be a story of growth stabilisation rather than big acceleration and it displays the signs of the final stages of a bull market.
Fidelity Leading Indicator: Still strong but approaching the limit
The Fidelity Leading Indicator's acceleration is circling back towards zero after a period of strong improvement.
Small could be beautiful, as mega caps overreach
Small could be beautiful, as mega caps overreach
Sterling investment grade set to outperform US/Euro bonds
With reduced political uncertainty, fundamental credit considerations will once again frame returns for the sector.
ESGenius: What sustainability investors can learn from European consumer staples
ESG principles have long been an integral part of how many European consumer staples companies are run, but it wasn’t always this way.
Fundamentals podcast: The battle for 5G (and what else we learned in Silicon Valley)
Fresh from Silicon Valley, Fidelity International reveals what 5G technology promises and why it's become a battleground of national importance
December's Rich Pickings podcast: Politics and the portfolio
"We need to be very careful to understand the impact of politics on companies," says portfolio manager Amit Lodha in this month's Rich Pickings.
Fidelity International on Asset TV - Asia Fixed Income
Luc Froehlich, Global Head of Investment Directing Fixed Income, features on this Asia Fixed Income Masterclass panel.
Fidelity International on Asset TV - Asia Outlook
Dhananjay Phadnis, Portfolio Manager, Fidelity Emerging Asia Fund, features on Asia Outlook Masterclass panel.
Beyond the rotting soybeans of the US and China trade dispute
Looking at the big picture on global protectionism
Cool Heads: UK election result positive for markets, but not a game changer
The Conservatives have won the UK election, making Brexit more likely. Markets have rallied on the news, but longer-term implications remain unclear.
Does the UK election outcome matter for global markets?
Does the UK election outcome matter for global markets?
Lagarde brings her “own style” to the ECB
Lagarde kept policy unchanged at the ECB
Rates unchanged as Fed engineers soft landing
The Federal Reserve leaves rates unchanged as Chairman Jerome Powell says US economy is 'in a good place'
Fidelity Leading Indicator: Marginal cooling but still positive
The global economy is still expected to grow into 2020, but at a subdued pace
Emerging market debt in the 2020s: Green trade wars and a land of opportunity
What will the next decade bring for emerging market debt investors?
Sustainable investors should wake up to companies in transition
To meet global emissions targets, we need an inclusive approach that offers the right incentives. That means embracing companies transitioning to low carbon.
Cool Heads: Investors are getting climate change wrong
Assessing a portfolio's climate pathway, rather than its emissions relative to a benchmark, should help reduce overall emissions.
ESGenius: Regulation bites the tech giants, but does it have teeth?
It remains uncertain whether this amounts to a real change in the way companies use data, or if these changes are only being implemented to appease regulators.
China needs a trade deal more than the US
Given the mixed economic indicators, it is China - and not the US - that could do with the fiscal and sentiment boost that a trade deal would deliver.
Trade wars supercharge China’s drive to tech self-sufficiency
The trade war with the US is driving China to double down on strengthening its tech infrastructure and building self-sufficient supply chains.
Fidelity Leading Indicator: Keeping the dream alive
The FLI is keeping the dream of a solid acceleration into 2020 alive, and points to the worst being in the rear-view mirror.
No man is an island: The new scarcity
The world today is faced with a pair of contradictory terrors: the economic fear that growth will soon come to an end, and the ecological fear that it will not
Global GEARs whisper stabilisation
Our global proprietary Gauges of Economic Activity in Real-Time (GEARs) are starting to appear convincing in their stabilisation.
November's Rich Pickings podcast: Outlook 2020 special
This month, Rich Pickings gathers Fidelity's Chief Investment Officers to ask them what investors should be watching for in 2020.
Silver linings for European high yield despite coupon erosion
High yield investors are still getting compensated relative to other assets and low rates have allowed for easier refinancing and improved issuer liquidity.
China's Singles Day ecommerce extravaganza is pushing offline
China's Singles Day is now targeting more online/offline integration and deeper penetration of lower-tier cities
China stimulus takes aim
We think China's policymakers will focus on more targeted stimulus measures with more localised impact, like this week’s cut to a key policy rate.
The fourth automation wave will be ‘Made in China’
China is set to lead the world in automation developments, because it has lots of data and the means to leverage it.
Labour shortages and ageing populations create opportunities for Japan's tech firms
Japan's technology sector offers companies that can grow across cycles by capitalising on labour shortages and other structural changes.
UK high yield turns a corner as no-deal Brexit worries fade
UK high yield bonds - which have been shunned by investors in recent years - look increasingly attractive.
October's Rich Pickings podcast: Central banks 'running out of road'
"Regions which have been beaten down could see some positive momentum," says Lead Cross-Asset Strategist Wen-Wen Lindroth in October's Rich Pickings.
Cool Heads: Romain Boscher and Marty Dropkin on earnings and consumer strength
Romain Boscher and Marty Dropkin discuss discuss the rebound in earnings and the divergence between manufacturing and consumer strength.
Bank of Japan holds its firepower but stresses it is poised to fight if needed
Bank of Japan holds its firepower but stresses it is poised to fight if needed
Fed cuts again but stays mute on future path
The US Fed cut rates by 25 basis points, the third cut this year. This week's meeting was hotly anticipated for any clues as to the further path of rates.
Low bond yields are here to stay, even if fiscal stimulus returns
Even if fiscal stimulus makes a return, we think low bond yields will stay because of central bank action and late-cycle effects
Cool Heads: Another cut expected from the Federal Reserve
The Federal Reserve is expected to cut rates for the third consecutive time this year.
European Central Bank: Goodbye Mario, good luck Christine
ECB leaves rates unchanged at Draghi's final meeting.
Cool Heads: Ian Samson and Andrea Iannelli on growth and inflation
Ben Deane sets out what’s been driving inflation, Ian Samson explains his outlook for the coming months and Andrea Iannelli examines what it means for markets.
Impact scenarios for Asia’s own trade standoff: Japan and South Korea
An ongoing dispute between Japan and South Korea could have wider ripples across the global supply chain.
The Investor's Guide to China podcast: Corporate governance
The Investor's Guide to China podcast: Corporate governance
Cool Heads: where next for sterling?
Tim Foster says the pound could benefit from a more positive UK outlook.
Global GEAR suggests economy remains on weak footing
Our proprietary Gauges of Economic Activity in Real-Time (GEAR) is flat but there is plenty of divergence at the individual country level.
Cool Heads: Bill McQuaker and Charlotte Harington on geopolitical risk
Bill McQuaker and Charlotte Harington discuss the rise of geopolitical uncertainty and what investors can do to combat it.
Cool Heads: Alex Wright on UK equities beyond Brexit
Portfolio manager Alex Wright talks about how UK companies are faring amid Brexit uncertainty and the impact on corporate earnings
Further Fed easing could create opportunities in credit
As the Fed eases, credit investors should prepare for widening spreads that offer better entry points, increasing their odds of producing excess returns.
Cool Heads: Fidelity CEO Anne Richards on Brexit and fragmentation
Watch our new series Cool Heads, in which Fidelity investors cut through the noise to focus on what really matters.
Hunting for yield in frontier markets: Egypt
When smaller frontier markets mature into benchmark names, early investors can earn attractive returns in these relatively niche, often overlooked places.
Negative interest rates: a bold but dangerous experiment
In an environment of negative interest rates, it could be growth companies not negative yielding bonds, which are the 'safe' investment choice.
FLI: Surprisingly upbeat into Q4
The Fidelity Leading Indicator (FLI) showed firm improvement in September
Investment Outlook Q4 2019: Bending, not breaking
The Investment Outlook is our flagship quarterly outlook publication that outlines our views on all the major asset classes and details the 'house view'.
Mounting risks in 2020, despite central banks’ best efforts
Mounting risks in 2020, despite central banks’ best efforts. Investors should be ready in case as the macroeconomic and political environments evolve.
Timing of Trump impeachment could further weaken global economy
Trump's impeachment comes as the latest ISM data shows US manufacturing firmly in contraction territory.
Volatility is a double-edged sword that investors can’t live without
A better understanding of volatility and its role in portfolios can help investors to position themselves for any turbulence ahead.
What Warren Buffett gets wrong about gold
Contrary to Warren Buffett’s complaints about gold, it’s constantly offering useful insights if you look closely enough.
China tiptoes down easing street with rate reform
While the Fed and ECB are signaling more rate cuts and quantitative easing to come, China’s central bank has been taking a more cautious approach.
September's Rich Pickings podcast: The question of corporate profits
"Profits growth has been more anaemic than the market thinks. I find that troubling," says portfolio manager Bill McQuaker in this month's Rich Pickings.
Pushing against the tide
Reports the Trump administration is considering restricting US portfolio flows to China are a cause for concern but would be a challenge to implement.
ESGenius: Will flight shame take off?
If flight shame spreads from Sweden to the rest of Europe, it could be a big ESG problem for arlines
India’s tax cut hits the reset button
We believe India’s domestic demand-driven structural growth story continues to provide compelling opportunities for long-term investors.
Global GEARs suggest stable and subdued activity, now near levels of recent troughs
Our Global GEAR, an unweighted average across all countries, nudged higher and is now dead flat year-to-date.
BOE holds steady but case for rate cut is compelling
The Bank of England (BoE) left rates unchanged but the case for an 'insurance cut' is compelling in the face of weak growth and Brexit uncertainty.
Bank of Japan holds fire ahead of sales tax increase, but strikes a more dovish tone
The BOJ held steady and said it would pay “closer attention” to economic momentum and review economic and price trends at the next monetary policy meeting.
Fed cuts by another 25 bps, but a cut doesn't cut it anymore
The 25 bps rate cut was widely expected, so markets should be relatively unmoved.
Momentum reverses, but is value back?
Last week’s reversal saw the most crowded quality-growth names sell off and the much unloved value stocks outperform the market.
ECB’s QE: Not enough to boost Eurozone bond markets
Modest size of ECB's new QE programme will be too inadequate to support the broader Eurozone government and corporate bond markets.
Risk premium rises after attack on Saudi oil hobbles global supply
US sanctions on Iran could be more severe.
The Investor's Guide to China: Stock picking
China's businesses operate in a unique environment and understanding that matrix is imperative to those hoping to identify the best companies for investment.
ECB fires an 'open-ended' salvo
The ECB announced a wide-ranging 'easing' package, including a rate cut and a restart of its QE programme.
FLI: Another solid month indicates that global recession fears are overblown
Our Fidelity Leading Indicator boosts hopes that the worst is firmly behind us, and that the next move in global growth will be to the upside.
Despite macro challenges, pockets of resilience in Chinese corporate earnings
Some bright spots in recent earnings reports suggest interesting opportunities
Room for upside for next Argentinian government
The next government could surprise to the upside as many tough political decisions have already been taken.
Sterling could weaken further, but main risks may lie beyond Westminster
UK unlikely to be immune to external macro risks.
Volatility could create opportunities to buy high-quality cyclicals
Investors should consider rotating away from overbought defensive assets into largely-ignored cyclical growth stocks.
A fork in the road for US corporates
Capital allocation priorities need to evolve to match new corporate purpose.
Fed Chair Powell strikes the right balance at Jackson Hole
Probability of December rate cut has increased.
Grit in the GEARs, but global economy not grinding to a halt
Some grit in the GEARs persists, especially in Europe and some emerging markets, but the global economy has yet to grind to a halt.
Fed’s broken policy dial could benefit Asia investors
Political pressure on the Fed to cut rates is only likely to increase.
US yield curve inverts for first time since 2008, but recession not imminent
While our fixed income team does not expect an imminent recession, the case for further rate cuts in the US is getting stronger and weighing on US yields.
Primary election result in Argentina may reverse business-friendly policies
Macri's shock defeat could trigger contagion to other Latin American economies.
Another hot summer for Italian assets
After several months of relative calm and a strong performance, Italian assets have again come under pressure amid political turmoil.
FLI: An 'uneasy' economic stabilisation ahead
The FLI suggests that even with the impending tariff escalation, we are far from a global recession
Gold glitters amid equity market sell-off, and still has room to run
We expect gold's status as a traditional safe haven will continue to support the price or even drive it higher.
ESG Ratings: Who’s driving?
By creating our own ESG ratings we can do analysis to confirm findings, fill in blanks and correct misconceptions, uncovering opportunities in the process.
Trade war tit-for-tat escalates: Views from the investment desk
Volatility has returned to global financial markets following the latest developments in the ongoing trade spat between the US and China.
Is seven an unlucky number for China’s currency?
China’s renminbi weakened past the seven per US dollar mark for the first time in more than ten years.
Trump ratchets up US-China trade war with new tariffs
Donald Trump announced on Twitter this week that he plans to add new import tariffs on $300 billion of Chinese-made products
BoE: Holds rates steady amid Brexit uncertainty
We expect the Bank of England to cut rates by 25 bps by year-end
Fed opens the door to a further reduction as it makes 25 bps 'insurance' cut
After hiking nine times in the past four years, the Fed has reversed course
If ESG regulations can’t keep up, we must make the rules
Political polarisation is increasing and this is blocking the development of ESG guidelines. As a result, companies and investors should step in.
The grand strategy behind the US-China ‘soap opera’
The US-China trade war features a cast of colourful characters. But behind the spat lies a bigger battle for global economic supremacy.
ECB signals further cuts and a new round of QE in September
The dovish outlook, coupled with prospects of a further stimulus, is expected to fuel the demand for yield that we have seen so far this year.
Investment Outlook Q3 2019: A delicate balance
The Investment Outlook is our flagship quarterly outlook publication that outlines our views on all the major asset classes and details the 'house view'.
Fundamentals podcast: Consumer staples and the risky business of defensive stocks
Fidelity's investment research podcast questions the defensiveness of the consumer staples sector after a decade of cheap debt has transformed balance sheets.
Decades of loose policy have left us in uncharted territory
Driven by loose monetary and fiscal policies, leverage is enormous and market dislocations numerous - anything could happen from here.
July's Rich Pickings podcast: The spectre of inflation
"A return to inflation worries me ... both sides of a balanced portfolio are going to get hurt," says David Buckle in this month's Rich Pickings.
Seeing red: How long can the iron ore rally last?
Seeing red: How long can the iron ore rally last?
A shooting star over Shanghai
Shanghai’s new sci-tech Star Market got off to a sparkling debut, but the real lustre for long term investors will be in the deeper market-based reforms
Solving the plastics problem by engaging with chemical companies
Sustainability engagements with chemical companies should focus on how acting in the best interests of the environment can also drive value creation.
ESG: Focus on the ‘G’ and the rest will follow
Most companies with good ‘E’ and ‘S’ practices have strong governance but it's rare to see firms with poor governance uphold high ‘E’ and ‘S’ standards.
GEARs: Lower for (how much) longer?
Our GEARs have slipped back, reversing the improvement seen in the second quarter.
Gold still has space to shine on
We see more upside for gold, thanks to a potent cocktail of falling interest rates, rising long term inflation expectations and heightening recession concerns.
China data improves but nascent recovery could halt further stimulus
Although the latest GDP figures show the worst may be behind us, there is no room for policy complacency.
Currency risk in pan-European real estate
Why it matters and where the unexpected dangers lie.
Fidelity Leading Indicator: Clinging to optimism
Our FLI cycle tracker indicates the global economy is past the worst
Is the end of globalisation the end of global investing?
Equities Portfolio Manager Amit Lodha shares his insights on the challenges to globalisation and the implications for investors in global equities.
China’s hunger for 17m tons of pork benefits Brazil
China may have to import up to 17 million tons of pork to fill a production gap caused by African Swine Fever.
Outlook bullish for short-term oil prices after surprise OPEC supply cuts
Brent crude oil to trade in the upper half of the $60-80 range for the rest of the year
With US-China trade talks back on track, investors’ focus turns to China economy
With US-China trade talks back on track, investors’ focus turns to China economy
ECB’s QE 2.0: Too much euphoria, too soon?
The current market euphoria around QE 2.0 and its expected impact on spreads might be misplaced.
US-China G20 trade talks: “Back on track” to destination unknown
US-China G20 trade talks: “Back on track” to destination unknown
Should investors hedge against big market moves now?
With all the uncertainty about the global economic outlook, investors ask whether it's time to add protection against volatility to their portfolios.
Central banks keep the show on the road, for now
Equity and bond markets don’t agree on what we should expect for the second half of the year. How should investors position in light of these mixed signals?
Active engagement can help passive investors: A new model in Japan
Passive investors can benefit from the expertise of an active manager. Fidelity targets companies that are index components to create value.
US-China trade wars: What to expect from the G20
US President Donald Trump and China’s President Xi Jinping are expected to hold an informal meeting at the G20 Summit in Osaka, Japan on June 28-29.
China bank shares tumble on US ruling that could trigger penalties
Shares declined on news that linked three Chinese banks to a US judge’s finding of contempt of court in a case related to North Korean sanctions violations.
Fed flashes easing signals
The Federal Reserve kept rates on hold as expected and also signaled that cuts - not hikes - are around the corner, amid signs of weakening economic activity.
Draghi’s dovish speech signals further central bank easing
The case for immediate easing by the Fed is however weak.
Central bank fears, calmer GEARs?
Our proprietary Gauges of Economic Activity in Real-Time (GEARs) show the latest Global GEAR looks stable and decently above its recent lows.
Tech and Trump’s China tariffs: Counting the costs to global supply chains and consumer demand
Tech and Trump’s China tariffs: Counting the costs to global supply chains and consumer demand
June's Rich Pickings podcast: Trade tensions - the damage
"There are clear binary downside risks that could be quite big given valuations,” says CIO of Multi Asset James Bateman in this month's Rich Pickings.
The Investor's Guide to China podcast: Opening Up
Travel deep into China's economy with Fidelity's investment experts. Hear how they're navigating its markets to uncover opportunities and avoid the pitfalls.
How to spot red flags when selecting managers
On the multi-asset team, we adhere to some key rules that help mitigate the risks of investing in actively managed funds.
Pick your poison
Some investors in environmental projects think that simply investing in securities with a ‘green’ label is enough to fulfil climate mandates. That’s not true.
Fidelity Leading Indicator: Stronger data indicate a recovery
Improvement in global growth has been reassuringly broad-based
ECB takes a slightly more hawkish tone
The central bank however pushed back raising rates until at least mid-2020.
The CEO’s sustainability dilemma
The primacy of the shareholder is being challenged in the boardroom
In Baoshang Bank takeover, China takes aim at moral hazard
The recent move by regulators in China to take over Baoshang Bank marks a significant event in the development and liberalisation of China’s capital markets.
Teaming up in Asia to target coal financing
Teaming up with other asset managers in Asia has helped change the behaviour of banks financing coal projects
A bottom-up approach to factor investing in corporate bonds
An introduction to Fidelity's ground-breaking approach to factor investing in fixed income
China property: Houses are for living in, not for speculation
A cross-asset analysis shows China’s property sector faces demographic headwinds, but opportunities exist thanks to improved liquidity and diverging policy.
Renewed trade tensions buck the rally
Policy action is now driving market sentiment
After European elections, finding consensus amid fragmentation
European elections: the populist wave that was supposed to have swept the more centrist parties failed to materialise
US treasuries still attractive despite risk rally
In an uncertain world, US treasuries offer the dual benefits of defensiveness and diversification.
India election: Modi for longer
Fresh mandate to help Modi push for further reforms.
The future of real estate: What will the industry look like in 2039?
How will the innovations of the next 20 years change the world of real estate.
Downshifting GEARs as global rebound softens
Downshifting GEARs as global rebound softens
China’s April data disappoints market expectations of resilience
Data on industrial production, retail sales and investment all surprised to the downside.
An outside view of the US-China trade war
Why investors should not expect a swift resolution to the US-China trade war
May's Rich Pickings podcast: Recession retreat
"There are tentative signs of stabilisation but it's too early to call that the green shoots," says Fidelity's Anna Stupnytska in this month's Rich Pickings.
China strikes back at US move with a tariff hike of its own
China strikes back at US move with a tariff hike of its own
US hikes tariffs on Chinese goods: Views from the Asia investment desk
US hikes tariffs on Chinese goods: Views from the Asia investment desk
Fidelity Leading Indicator: Green shoots versus trade war shots
Fidelity Leading Indicator: Green shoots versus trade war shots
The Fed remains firmly on hold
The overall message at the US Federal Reserve’s May meeting was clear and simple - it is firmly on hold for now.
EM outlook: For China and the Fed, old habits die hard
China and the US Federal Reserve are falling back on old habits, which should provide some desperately-needed comfort to emerging markets.
Being the authentic investor
Can investors do well by doing good? Today my answer is emphatically, yes
The last tango for Macri?
Argentinian President Mauricio Macri faces a test as negative sentiment pushes Argentinian bond spreads to levels not seen since the pre-Macri era.
European Parliament elections: Bond investors brace for a populist takeover
The EU elections could inject political risk into sovereign bond markets, making the election results a ‘must-watch’ event for fixed-income investors.