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Sustainability is key for value creation
How should we quantify the valuation impact of sustainable investing?
Analyst Survey 2021: Region by region
Here we look at what Fidelity International's analysts say will be the prevailing regional trends over the next 12 months.
Analyst Survey 2021: Sector by sector
Fidelity International's analysts expect significant differences in the pace of individual sector recoveries.
Analyst Survey 2021: Analyst Q&A
Our analysts talk about the key trends in their respective sectors in the wake of Covid-19.
Analyst Survey 2021: Counting down the days
Confidence is high despite the threat of new variants; ESG emphasis rises again.
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.
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.
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.
Chart Room: After the Gold Rush
Is it time to take profits in gold?
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.
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.
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: 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.
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: 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.
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.
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.
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.
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.
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.
ESGenius: Insurance companies neglect sustainability at their peril
Fidelity research shows disparity in how sustainability is viewed across insurance sector.
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.
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.
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?
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.
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.
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.
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.
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.
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.
GEARs: Bursting through the ceiling?
Fidelity International’s GEAR (Gauges of Economic Activity in Real Time) activity indicators continue to rebound strongly.
Overweight autos: The road less travelled
Despite the risks, we believe that the auto sector now presents an investment opportunity.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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?
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.
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.
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
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.
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.
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.
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.
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 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.
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.
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.
Oil tankers gush profits as global storage space overflows
Oil tankers are earning windfall profits - but how long can this situation last?
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.
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.
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.
Oil below zero: bad, but not that bad
Oil fundamentals are weak - but Monday’s price move should be seen as an outlier.
Chart Room: Fidelity analysts expect longer disruptions from Covid-19
Chart Room: Fidelity analysts expect longer disruptions from Covid-19
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.
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.
FLI: Consumer pain leads the way
The three-month Fidelity Leading Indicator growth rate is already halfway to the Global Financial Crisis trough.
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.
Inflation expectations close to nadir
Low Inflation expectations mean breakevens nolw look attractively priced
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
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.
Recession is here - how bad will it be?
Recession is here - how bad will it be?
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.
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.
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.
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.
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.
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.
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.
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.
Analyst Survey 2020 podcast: The findings discussed
Hear our experts dissect the findings of Fidelity's annual Analyst Survey and the forecasts of more than 150 analysts across the world.
Analyst Survey 2020: Sector by sector
Key findings from the 10 different sectors covered by the survey.
Analyst Survey 2020: Region by region
The key findings from the 10 different regions covered by the survey.
Analyst Survey 2020: A watershed year for ESG
ESG shoots up the corporate agenda in China and the US.
Analyst Survey 2020: Cycle, what cycle?
Economic cycles typically last several years, not entire decades. But this one is different.
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.
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.
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.
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.
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.
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.
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'.
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.
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.
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
Grocery retail is the next frontier for e-commerce in China
Chinese internet companies like Tencent, Alibaba and JD.com have been acquiring and teaming up with bricks-and-mortar stores.
From Made in China to Designed in China: The luxury brands moving up the value chain
If you haven't heard of these luxury Chinese brands, you will soon. Portfolio Manager Hyomi Jie investigates the premiumisation of fashion labels like JNBY.
Dividend investing in China is growing up
Chinese companies are realising the benefits of paying dividends to attract a more stable investor base and in response to regulation.
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.
Despite macro challenges, pockets of resilience in Chinese corporate earnings
Some bright spots in recent earnings reports suggest interesting opportunities
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.
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.
Seeing red: How long can the iron ore rally last?
Seeing red: How long can the iron ore rally last?
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.
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?
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 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.
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.
China’s stimulus is working, but credit markets hold longer-term risks
The credit stimulus measures that China began last summer are starting to reach a critical mass, but transmission to the real economy remains patchy.
Podcast: Palm oil, Chinese steel and when the environment triumphs
Environmental pressures are beginning to move the tectonic plates of industry. Fidelity's analysts discuss what it can mean for those sectors at the epicentre
A Goldilocks moment for China’s monetary policy, but watch for more easing and bond index inclusion
Two events are driving the outlook for China fixed income- easing monetary conditions and the expected inclusion of Chinese bonds in benchmark indexes.
Barriers to women investing: An Australian perspective
A state-of-the-nation report commissioned by Fidelity International (Australia) which reveals the barriers women face when it comes to investing.
Macro slowdown clashes with market optimism
The disconnect between economic fundamentals and markets is unlikely to be sustainable in the short term.
GEAR update: US and Japan join the slowdown
GEAR update: US and Japan join the slowdown
Region by region: Analyst Survey 2019
Looking at the Analyst Survey by region shows some striking common themes emerge, particularly around declining confidence and ebbing bullishness.
Podcast: Fidelity Analyst Survey 2019
Fidelity's heads of research go in-depth on the findings from this year's Fidelity Analyst Survey.
The Analyst Survey: 16,000 company meetings into one big picture
Why the Fidelity Analyst Survey offers a unique perspective from the bottom up.
Fidelity Analyst Survey 2019: The end of optimism
An overview of the responses to Fidelity's 2019 Analyst Survey points to a slowdown in growth for many industries, but no imminent recession.
Analyst Survey 2019: The key findings explained
Fidelity's heads of research evaluate the data from this year's Analyst Survey and show what the findings tell us about the year ahead.
Analyst Survey 2019: China's slowdown, seen from the ground
Sentiment towards China for the year ahead is more downbeat than for other geographies but there are some pockets of brightness.
Sector by sector: Analyst Survey 2019
Across 10 sectors, only healthcare analysts showed an improvement in sentiment from last year.
Bull and bear cases for China in 2029
Fidelity analysts give bull and bear cases for consumption, financial, and property sectors in China in 2029
Power to the people: the democratisation of the utility sector
Power to the people: the democratisation of the utility sector. How battery storage will revolutionise the electric utility industry.
Fidelity Leading Indicator: FLIrting with disaster?
Perhaps ‘disaster’ is too strong a word to describe January’s Fidelity Leading Indicator (FLI) reading, but it is the worst result since 2012.
Fundamentals podcast: China and the impending smartphone revolution
Fundamentals, Fidelity's investment research podcast, unboxes the next smartphone revolution and discovers why China will be leading the charge.
Fundamentals podcast: Shipping and the new law that could stem the global economy
Fidelity's investment research podcast, looks at regulation designed to clamp down on shipping emissions and its potential unintended consequences.
Fidelity Leading Indicator: Qualified optimism or qualified pessimism
Our proprietary Fidelity Leading Indicator (FLI) is edging up towards the ‘top-left’ quadrant, which suggests that a trough could be approaching.
The best writing on Asia from around the investment world
These are the pieces which have informed our team as we prepared this edition on allocation to Asia.
A burden shared: bail-in bonds for GSIBs
What are bail-in bonds and what do they mean for investors?
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