The sharp drop in oil prices may have provided a powerful boost to global consumption, but economists are concerned that on a global scale, especially in the Eurozone, that the effects of low inflation might continue in the long-term.The research article provides a deflation risk index that distinguishes countries where external disinflationary effects are likely to prove temporary and where longer term inflation effects may be more severe and might require a greater policy response.
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This report provides a historical review of past economic conditions for 2013 and 2014, and illustrates what might be in store for investors in 2015 by asking five key questions. Those questions include: Will US equities continue to outperform? Is the macro environment in Europe getting worse? What impact will diverging monetary policy have on currencies and bonds?
Micro cap stocks are among the investment world’s worst-kept secrets. They have been around as an asset class category since the 1980s, and research has repeatedly confirmed the advantages they offer to investors – most notably a chance to exploit numerous opportunities for greater excess returns.
The Association of Southeast Asian Nations (ASEAN) is comprised of 10 members whose individual social, economic and political characteristics are the underpinnings of the Association’s collective prosperity. Frequently overshadowed by its more prominent neighboring countries, particularly China and India, ASEAN continues to emerge as an area of vital economic growth within Southeast Asia and on the global stage. This report offers an introduction to this increasingly dynamic region.
President Obama on January 20, 2015, used his sixth State of the Union address to lay out his tax policy agenda to the new Republican-controlled 114th Congress. In a subsequent speech, Treasury Secretary Jack Lew reaffirmed the Administration's tax reform goals that were first outlined in a 2012 'framework' for business tax reform. Meanwhile, the Republican chairmen of the House Ways and Means Committee and the Senate Finance Committee have responded to the President's State of the Union address, and are laying out their own goals for tax reform.
The desire to integrate values and investment decisions has long been important to investors and is a movement that has gained permanency. Research shows that when implemented thoughtfully with active management, impact investing can achieve social goals, as well as produce competitive and even excess returns over a benchmark. A deep and growing field, impact investing cannot be generalized. While significant activity occurs within private investments, this paper focuses on opportunities in the public markets.
The US energy renaissance may be taking a breather, exasperated from ten years of mind boggling growth, but unquestionably it is not over. Global energy demand is expected to grow well into the future and the US is poised to take advantage of the trend to become the world’s marginal producer. At current oil prices, US energy producers will (and have already) cut back their capital expenditures for 2015-16, which should slow production growth and allow demand to catch up.
The foreign exchange market is widely appreciated to be the largest and most liquid market of all global financial markets. However, it is susceptible to shocks which can cause significant unexpected volatility, such as the timing of the Swiss National Bank’s (SNB) decision to remove its 1.20 floor on the Swiss Franc versus the Euro on 15th January 2015. The article examines the effects of this volatility on investors with long USDCHF FX Forward exposure compared to those with long USDCHF FX Options exposure.
This study by Crystal & Co is based on a survey of family enterprises and focused on how families think about certain areas of risk.
This report documents how the family office has fast emerged as a viable structure from which to manage the assets of wealthy families in Asia. The rapid growth of the UHNWI population in the region and the tax-friendly environment and robust capability provided in regional financial hubs suggest a further expansion of the industry in years to come. Participants in the survey upon which this research was built exhibit a nascent to intermediate stage of institutionalization in aggregate and a high degree of family control.