Read the Morgan Stanley Investment Management Journal

In this issue of the Journal:

Christian Roth, Joseph Mehlman and Mikhael Breiterman-Loader of the Global Fixed Income team examine an innovative method of global credit investing.

John Watt, Managing Director and Head of Asset Management for Morgan Stanley Infrastructure, discusses how business decisions producing substantial benefits for the environment are found in infrastructure investing.

Andrew Maggio and Diana Shi of the Active International Allocation team discuss the dynamics expected to drive Japan’s fiscal deficit over the next decade, examine potential vulnerabilities of JGB funding, and look at policy options.

David Kemps of the Morgan Stanley Government Relations team focuses on fundamental tax reform as it pertains primarily to individual taxpayers and the realities of the U.S. political process.

Jaidip Singh and Mikhael Breiterman-Loader of the Global Fixed Income team examine several fixed income strategies to help guard a portfolio against sharp rises in inflation.

Rui de Figueiredo, Ryan Meredith, Janghoon Kim and Damon Wu of Morgan Stanley Alternative Investment Partners discuss whether market timing can add value in hedge funds. 

Jim Caron, Managing Director on the Global Fixed Income team, introduces the Financial Conditions Index, developed to measure the central bank’s "policy response function" to gain insights into the performance of financial assets.

Martin Leibowitz and Anthony Bova discuss how duration targeting convergence can hold true, even in the face of sharply rising or falling rates throughout the investment period.

A classic essay by Barton Biggs, former Managing Director, discusses the state of the Chinese economy in the early 1990s.