US and European equities continued their upward momentum. The S&P 500 led the charge in developed markets as expected, reaching new all-time highs, returning 5.3% over the month (USD) and the Euro Stoxx 50 returning 1.9% (EUR).
Jim Caron, Portfolio Manager and Head of Global Macro Strategies for the Global Fixed Income Team, shares his macro thematic views on key market drivers.
Vaccines and stimulative policy have made DM’s leaders of global recovery. But we are cautious as record equity issuance and inflows create a tug-of-war.
March was an exciting month if you were investing or following U.S. Treasuries. Yields continued their seemingly relentless climb on the back of unremitting good news on vaccines, economic data and a repricing of Fed policy.
In 2019, we published our Morgan Stanley Investment Management (MSIM) Fixed Income “ESG and Sovereign Fixed Income Investing: A Better Way” approach. We highlighted our thesis that countries’ sustainability performance should be evaluated in the context of their stage of development.
A mass-market brand aims to sell to all the buyers of the category. In fact, the typical buyer of a brand is a light buyer. Take a certain globally known soft drinks manufacturer: