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Market Pulse • 12-Jan-2020
If the economy is so darn good, why are yields so darn low? Jim Caron Data is getting better, but bond yields are not following. What's going on here? Jim Caron explains.

Investment Insight • 07-Jan-2020
Managing Downside Risk with Global Macro Strategies Robert M. Rafter Amid concerns about potentially unsteady and down markets, we believe two of the strategies employed by global macro managers are particularly worthy of consideration today: tail risk and long volatility.

Investment Insight • 07-Jan-2020
Long-Short Equity Strategies - “Hedging” Your Bets Eric Stampfel Faced with market uncertainties, investors may be seeking ways to de-risk. Long-short equity strategies have the potential to provide steady gains even in down markets.

Market Alert • 31-Dec-2019 • 4 Min
Market Alert with Andrew Slimmon: Don’t Overreact to an Early January Andrew Slimmon Andrew Slimmon, Head of the Applied Equity Advisors Team, offers a timely perspective on what is shaping the markets now as well as insights on investment opportunities and risk within global equities. Listen to his Market Alert.

Market Pulse • 18-Dec-2019
U.S. - China Phase 1: More a Truce Than a Deal, but a Step in the Right Direction Jim Caron On December 15 the U.S. and China stopped the “rock throwing” as no new tariffs were announced by either of the antagonists. And while there is no official deal in place, this “truce” is clearly a good first step, as outlined by Jim Caron.

Market Pulse • 13-Dec-2019
December FOMC: Connecting the Dots Jim Caron After three rate cuts in 2019, the Fed indicated that it would not touch rates in 2020, instead forecasting that its next action would be a rate increase in 2021. The market, however, has a different view, pricing in a rate cut at the end of 2020.

Market Outlook • 05-Dec-2019
Equity Market Commentary - December 2019 Andrew Slimmon In his December commentary Andrew Slimmon talks about staying in the moment and focusing on “where we are NOW,” not where we might be six months or a year from now.

Investment Insight • 04-Dec-2019
Alternative Risk Premia: Taking Control of Your Exposures Patrick Reid, Gary Chan ARP have the potential to mitigate downside risk, while in many cases still generating positive returns in a liquid and costefficient way.

Market Alert • 04-Dec-2019 • 4 Min
Market Alert with Andrew Slimmon: Capitulation is Just Commencing Andrew Slimmon Andrew Slimmon, Head of the Applied Equity Advisors Team, offers a timely perspective on what is shaping the markets now as well as insights on investment opportunities and risk within global equities. Listen to his Market Alert.

Investment Insight • 02-Dec-2019

Alternative Lending: Why Today and Through the Credit Cycle?

Kenneth Michlitsch

Against a backdrop of low interest rates and tight corporate credit spreads, investors struggle to find sufficient yield from traditional fixed income. Fintech-driven alternative lending is a nascent, consumer-focused private credit asset class that potentially offers yield pick-up, as well as duration and diversification benefits.

Global Fixed Income Bulletin • 30-Nov-2019
The Song Remains the Same Global Fixed Income Team December’s unequal, even seemingly random, bond market performance reinforces our thesis that there are few themes that investors can latch onto.

GLOBAL EQUITY OBSERVER • 29-Nov-2019
The ESG Advantage Vladimir Demine, William Lock, Bruno Paulson Does investing in companies with sound ESG practices mean investing in better companies?

Market Pulse • 27-Nov-2019
Top 10 for ‘20 Jim Caron In our view, 2019 was a mid-cycle reset where the Fed cut rates three times, capital expenditure bottomed out and global GDP slowed. The bad news is that yields are low and investors are long on duration, a big risk given that the Fed will likely stay on the sidelines and not lower rates in 2020.

Market Pulse • 19-Nov-2019
From Mid-Cycle Reset to Cyclical Recovery Jim Caron This time last year the market projected the economy was headed into a recession, and the Fed engaged in a policy mistake by planning to hike rates above 3.00%. Instead, what we realized was 75bps of rate cuts along with cuts from global central banks and a restart of quantitative easing (QE).

Global Fixed Income Bulletin • 18-Nov-2019
Normalization Continues Global Fixed Income Team In many ways, October was a continuation of the developments that started in September. Yet the Global Fixed Income Team now believes fixed income markets have reached a fork in the road: Either data will get better as geopolitical risks recede, or we will return to trade war concerns and deteriorating economic fundamentals.

Sustainability Insight • 14-Nov-2019
ESG Investing: Living in a Material World Leslie Delany Can exemplary corporate behavior on ESG issues really translate into better financial results and improved stock price performance? In our mind, the answer is a resounding yes. The key is materiality.

Market Outlook • 14-Nov-2019
Equity Market Commentary - November 2019 Andrew Slimmon In his latest commentary Andrew Slimmon notes that the S&P 500 has finally broken out of its year-and-a-half trading range, and could end the year near 3200.

Market Alert • 13-Nov-2019 • 4 Min
Market Alert with Andrew Slimmon: The S&P 500 Has Broken Out to New Highs, Now What? Andrew Slimmon Andrew Slimmon, Head of the Applied Equity Advisors Team, offers a timely perspective on what is shaping the markets now as well as insights on investment opportunities and risk within global equities. Listen to his Market Alert.

Investment Insight • 08-Nov-2019
Our Formula for Earnings Resilience Laura Bottega In our view, “the formula” for successful investing consists of two critical elements: pricing power and recurring revenues.

Macro Insight • 07-Nov-2019
The Real Problem with Low Yields Jim Caron Fixed income plays a special role in managing risk because it tends to be a safer, more liquid and less volatile asset. We still think that is largely true, however, there is a catch. Traditional bond strategies may be less effective in acting as a hedge and also have less appreciation potential than when yields were higher.

Global Equity Observer • 31-Oct-2019
Exploring Pricing Power William Lock, Dirk Hoffmann-Becking, Bruno Paulson Why is pricing power important? The International Equity Team explains why it is a key attribute of quality compounders.

Macro Insight • 30-Oct-2019
VIDEO: Peak Car—or Just Bumps in the Road? Andrew Harmstone, Christian Goldsmith This video provides a short summary of the latest Andrew Harmstone Monthly Commentary article.

Market Alert • 25-Oct-2019 • 4 Min
Market Alert with Andrew Slimmon Andrew Slimmon Andrew Slimmon, Head of the Applied Equity Advisors Team, offers a timely perspective on what is shaping the markets now as well as insights on investment opportunities and risk within global equities.

Market Outlook • 22-Oct-2019
3Q19 Review/Outlook: Global Fixed Income Opportunities Christian Roth The direction and magnitude of interest rate moves over the past year has been truly breathtaking. Chris Roth discusses the catalysts for these changes.

Sustainability Insight • 22-Oct-2019
Engage - Fall 2019 International Equity Team The latest edition of Engage, the International Equity Team’s semi-annual update on their ESG engagement activity.

Global Fixed Income Bulletin • 17-Oct-2019
Reversal Month Global Fixed Income Team What three principle reasons led to the sell-off in September and how have they impacted our positioning? The Global Fixed Income Team discusses.

Macro Insight • 14-Oct-2019
VIDEO: Peak Car—or Just Bumps in the Road? Andrew Harmstone, Christian Goldsmith This video provides a short summary of the latest Andrew Harmstone Monthly Commentary article.

Sustainability Insight • 10-Oct-2019

ESG and Sovereign Fixed Income Investing: A Better Way

Jim Caron, Teal Emery

As environmental, social and governance (ESG) factors become more broadly incorporated into investment decision-making, sovereign fixed income investors are grappling with the best way to benchmark and quantify these factors across a diverse group of countries. Morgan Stanley Investment Management has developed what we consider to be a better approach.

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Macro Insight • 30-Sep-2019
Peak Car—or Just Bumps in the Road? Andrew Harmstone The global auto industry has recently experienced a disruptive slide where registrations, demand and production have all slumped across the world. Have we hit “Peak Car“—or just some bumps in the road?

GLOBAL EQUITY OBSERVER • 30-Sep-2019
Plastic Matters Vladimir Demine, William Lock, Bruno Paulson Why engage? To get the full story. The International Equity team discusses what’s driving change for consumer staples and plastic.

Global Equity Observer • 27-Sep-2019
Compounding in Health Care Marcus Watson Where can you find high quality investments in the health care sector? Marcus Watson from our International Equity Team shares his views.

Market Outlook • 25-Sep-2019
Equity Market Commentary - September 2019 Andrew Slimmon Markets have experienced a series of “recession scares.” Yet Andrew Slimmon maintains that the U.S. stock market will break out during the fourth quarter of 2019, with the S&P 500 ending the year well north of 3,000.

Global Fixed Income Bulletin • 20-Sep-2019
Volatility and Uncertainty Continue Global Fixed Income Team Why have government bonds and other fixed income assets prevailed in the current market environment while other sectors and asset classes have struggled?

Market Pulse • 16-Sep-2019
ECB Action Puts Pressure on Fed Jim Caron The ECB's recent actions have put pressure on the Fed to take some action of their own. Jim Caron from the Global Fixed Income Team shares his views.

Sustainability Insight • 05-Sep-2019
Software & Services Marcus Watson Understanding the connection between ESG and performance can positively impact employee recruitment, retention and engagement, says the International Equity Team’s Nathan Wong and Richard Perrott.

Macro Insight • 04-Sep-2019
VIDEO: Tug-of-War Andrew Harmstone, Manfred Hui This video provides a short summary of the latest Andrew Harmstone Monthly Commentary article.

Sustainability Insight • 04-Sep-2019
Consumer Staples Nic Sochovsky How can a company differentiate itself? Get its environmental and social policies right. The International Equity Team’s Nic Sochovsky explains.

Sustainability Insight • 03-Sep-2019
25-50 of the Highest Quality Stocks in the World International Equity Team Global Sustain is a high-quality, low carbon portfolio using bottom-up fundamental analysis and active engagement with company management.

Sustainability Insight • 02-Sep-2019
Pay X-Ray Alex Gabriele Vladimir Demine discusses how certain compensation scheme practices – such as earnings adjustments – may be red flags.

Sustainability Insight • 29-Aug-2019
Knock-On Effects Laura Bottega What does material mean? Laura Bottega discusses the factors that may influence the sustainability of returns.

Sustainability Insight • 28-Aug-2019
Tackling Plastics Vladimir Demine Vladimir Demine explains how a company's attention to plastic consumption may not only benefit the environment, but also create opportunities to differentiate itself.

Macro Insight • 27-Aug-2019
Tug-of-War Andrew Harmstone Tariffs applied during the U.S.-China trade war have paradoxically not raised U.S. inflation. In our latest insight, Tug-of-War: We examine the tug-of-war pitting the direct inflationary effects of tariffs against the indirect deflationary impact of other forces at play.

Global Equity Observer • 23-Aug-2019
The Two Risks We Manage: Earnings and Multiples William Lock, Dirk Hoffmann-Becking, Bruno Paulson Should equity investors be worrying about multiple threats? Bruno Paulson talks earnings and multiples.

Global Fixed Income Bulletin • 19-Aug-2019
Just When It Looked Safe to Go Back in the Water Global Fixed Income Team We were set for a quiet August, but financial markets had other plans. The Global Fixed Income Team believes this change of events should be taken seriously.

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A World of Fixed Income Opportunities Christian Roth The U.S. fixed income market is less than half of the global fixed income market. Chris Roth of the Global Fixed Income Team discusses the importance of considering international fixed income investments.

Macro Insight • 05-Aug-2019
Equity Market Commentary Andrew Slimmon Why were recent stock markets at all-time highs? Andrew Slimmon details the underpinnings of those markets and his outlook on what's next.

Market Pulse • 25-Jul-2019
Expect the Unexpected from the ECB Anton Heese The ECB changes course and gets ready to announce a package of easing measures. The Global Fixed Income team shares their views on what’s to come.

Global Equity Observer • 19-Jul-2019
Rebuilding Moats in the Digital Age William Lock, Dirk Hoffmann-Becking, Bruno Paulson Who is top of the class as consumer staples go back to school? The International Equity Team discusses dominance in the digital age.

Macro Insight • 18-Jul-2019
VIDEO: An Holistic Approach to the World’s Water Woes Andrew Harmstone, Christian Goldsmith This video provides a short summary of the latest Andrew Harmstone Monthly Commentary article.

Macro Insight • 18-Jul-2019

An Holistic Approach to the World’s Water Woes

Andrew Harmstone

The high usage and scarcity of water have become consequential issues not only for human health, but for the global economy. A lot of economic activity is reliant on water—a lot of water. We review the interconnectedness of the world’s water issues, illustrates the impact of water stress on important industries and encourage investors to consider water issues when making decisions.

Global Fixed Income Bulletin • 17-Jul-2019
Central Banks Poised to Keep the Expansion Rolling Global Fixed Income Team Central Banks seem poised to do all in their power to keep the expansion rolling. The Global Fixed Income team shares their review of the first half of 2019 and their outlook for the second half.

Global Fixed Income Insights • 12-Jul-2019
European and Japanese investors: Consider not fully hedging your USD exposure Sahil Tandon, Warren Mar, Eric Baurmeister Europe- and Japan-based investors typically hedge all USD exposure, but is this the best practice? The Emerging Markets Debt Team shares why they believe it may not be.

Global Fixed Income Bulletin • 25-Jun-2019
Déjà vu...Maybe Not Global Fixed Income Team Fixed income markets are behaving a lot like last year. Is this déjà vu? We don’t think so. The key difference is that the Fed is in play and can cut rates. The Global Fixed Income Team shares their view.

Global Equity Observer • 25-Jun-2019
Journey Into The Unknown William Lock, Dirk Hoffmann-Becking, Bruno Paulson Journey into the unknown: the International Equity Team talks politics, profits and pricing power.

Market Outlook • 04-Jun-2019
Applied Equity Advisors Investment Process Leslie Delany, Andrew Slimmon A global, unconstrained and style flexible investment process lets Applied Equity Advisors “stay in the game” and take advantage of a wider set of investment opportunities.


VIDEO: Midgame Andrew Harmstone, Manfred Hui This video provides a short summary of the latest Andrew Harmstone Monthly Commentary article.

Macro Insight • 31-May-2019
Midgame Andrew Harmstone After a growth scare in the fourth quarter of 2018, global economies may not be heading towards a recession—but U.S./China trade tensions may delay recovery.

Market Outlook • 30-May-2019
Andrew Slimmon's Outlook on the Current Markets Leslie Delany, Andrew Slimmon Over the past decade, “pause” years in the market have been followed by years with positive double-digit returns.

Investment Insight • 28-May-2019
An Introduction to Alternative Lending Kenneth Michlitsch Alternative lending is an asset class borne of bank disintermediation and technological innovation. In this paper, Ken Michlitsch shares his insights on the space.

Macro Insight • 23-May-2019
How Flexible is Your Approach? Leslie Delany, Andrew Slimmon The best golfers have to be flexible and experienced enough to effectively hit any number of difficult shots. We think the same holds true for portfolio managers and their approach to managing money.

Global Equity Observer • 17-May-2019
Credit Where Credit Is Due William Lock, Dirk Hoffmann-Becking, Bruno Paulson With shadow banking subdued, the International Equity Team considers the risks involved in the new Chinese corporate debt.

Global Fixed Income Bulletin • 16-May-2019
And the Beat Goes On... Global Fixed Income Team The global economy is cruising at just the right temperature for growth…now only if those pesky trade issues would go away! The Global Fixed Income team shares their views and outlook.

Market Outlook • 15-May-2019
Applied Equity Advisors May 2019 Commentary Andrew Harmstone Andrew Slimmon, head of the Applied Equity Advisors team, discusses his market views in the May 2019 Monthly Commentary.

Sustainability Insight • 09-May-2019
An Emerging Markets Approach to ESG: Our Progress Global Emerging Markets Team The Global Emerging Markets Team discusses how ESG factors are integrated in their process, with the portfolio managers leading engagements on key issues.

Macro Insight • 29-Apr-2019
A Tale of Risk Andrew Harmstone Effective risk management means understanding the critical difference between “risk” events and “uncertain” events. We explore the issue, and possible solutions, in our latest outlook, A Tale of Risk.

Global Fixed Income Bulletin • 17-Apr-2019
Goldilocks Redux? Global Fixed Income Team Optimism abounds that the markets are on the right path for 2019, and we agree! We believe easy monetary policy and lower real yields will support economies and lengthen the business cycle. The Global Fixed Income Team shares their views.

Sustainability Insight • 17-Apr-2019
Engage - Spring 2019 International Equity Team The latest edition of Engage, the International Equity Team’s semi-annual update on their ESG engagement activity.

Sustainability Insight • 16-Apr-2019
Compounding with a Conscience Vladimir Demine, William Lock, Bruno Paulson The International Equity Team’s discusses its latest offering, Global Sustain, and why understanding ESG factors is essential for successful compounding.

Global Equity Observer • 12-Apr-2019
In Search of a Late-Cycle Buffer William Lock, Dirk Hoffmann-Becking The International Equity Team asks: is it time to deploy a late-cycle buffer?

Macro Insight • 12-Apr-2019
A Positive Outlook for Europe Richard Ford Ric Ford, Head of Global Credit, shares his views on how reversing negative factors are creating a positive outlook for Europe and European credit.

Sustainability Insight • 27-Mar-2019
ESG Focus Adds Value For Our Clients Vladimir Demine Vladimir Demine explains why having a dedicated head of ESG research is the right thing to do for clients.

Sustainability Insight • 27-Mar-2019
Being Principled, Without Sacrificing Return William Lock William Lock explains why there is no need for compromise between returns and principles.

Sustainability Insight • 27-Mar-2019
Holistic and Responsible Investing in a Rapidly Changing World William Lock Laura Bottega discusses how global factors encourage companies to balance profit and ESG.

Sustainability Insight • 27-Mar-2019
Investing Wisely By Avoiding Permanent Destruction of Capital Jill Ytuarte Jill Ytuarte breaks down what the International Equity Team believes is their chief responsibility to clients.

Global Fixed Income Bulletin • 20-Mar-2019
Where To From Here? Global Fixed Income Team Central banks becoming more dovish, U.S.-China relations and Brexit have left uncertainty hanging over the markets. Where will we go from here? The Global Fixed Income team shares their views.

Macro Insight • 19-Mar-2019
On the Road Again: Fiscal Stimulus Around the World Andrew Harmstone Major infrastructure programmes might be the key to reducing the risk of global recession and getting the economy “on the road again.”

Market Outlook • 19-Mar-2019
Applied Equity Advisors March 2019 Commentary Andrew Slimmon Andrew Slimmon, head of the Applied Equity Advisors team, discusses his market views in the March 2019 Monthly Commentary.

GLOBAL EQUITY OBSERVER • 13-Mar-2019
When Management Gets “Strategic” William Lock, Dirk Hoffmann-Becking, Bruno Paulson Find out why company management getting “strategic” is a red flag for the International Equity Team.

Sustainability Insight • 07-Mar-2019
ESG and Sustainable Investing Report Kristian Heugh, Marc Fox The Global Opportunity Team shares its new annual report on ESG engagement activity.

Macro Insight • 07-Mar-2019
An Introduction to Morgan Stanley's Private Infrastructure Platform Morgan Stanley Infrastructure Partners Morgan Stanley Infrastructure Partners invests directly in infrastructure assets and seeks to create value through active asset management and operational improvements.

Market Outlook • 28-Feb-2019
Applied Equity Advisors February 2019 Commentary Andrew Slimmon Andrew Slimmon, head of the Applied Equity Advisors team, discusses his market views in the February 2019 Monthly Commentary

Macro Insight • 21-Feb-2019
Global Balanced Risk Control Team Market Update Christian Goldsmith In late 2018, the GBaR team’s defensive positioning helped protect portfolios from falling equity markets. A common question from clients as the team entered 2019 was ‘what would make you more positive on equities?’ Watch Christian Goldsmith, Portfolio Specialist of the GBaR team’s latest market update video to explain.

Global Fixed Income Bulletin • 20-Feb-2019
Why It's Different This Time Global Fixed Income Team 2018 started with strong January performance, but the rest of the year was lackluster. Will 2019 be the same? The Global Fixed Income Team shares their view on why this year will be different.

Global Equity Observer • 20-Feb-2019
Not Out of the Woods Yet William Lock, Dirk Hoffmann-Becking, Bruno Paulson January brought better news, but beware straying from the high-quality path, warns the International Equity Team’s Bruno Paulson – we’re not out of the woods yet.

Macro Insight • 19-Feb-2019
Three Climate Tipping Points Shaping Markets Today Andrew Harmstone Climate change is pushing us to reach political, social and economic “tipping points.” The MSIM GBaR team examines the implications for investors.

Global Multi-Asset Viewpoint • 31-Jan-2019
Secular Outlook for Bond Yields: Structurally Higher MSIM’s Global Multi-Asset Team discusses their investment perspective in the latest viewpoint: “Secular Outlook for Bond Yields: Structurally Higher".

Global Fixed Income Bulletin • 22-Jan-2019
Brave New Year Global Fixed Income Team With a turbulent end to 2018, what will the New Year bring? The Morgan Stanley Global Fixed Income Team shares their outlook for investment opportunities in 2019.

Global Equity Observer • 15-Jan-2019
Multiples Are Down, Risks Are Not William Lock, Dirk Hoffmann-Becking, Bruno Paulson Could falling earnings and a liquidity squeeze prove toxic to asset prices? Where to hide? Asks Morgan Stanley’s International Equity Team.

Market Outlook • 31-Dec-2018
Applied Equity Advisors January 2019 Commentary Andrew Slimmon Andrew Slimmon, head of the Applied Equity Advisors team, discusses his market views in the January 2019 Monthly Commentary

Sustainability Insight • 17-Dec-2018
ESG Scores William Lock, Dirk Hoffmann-Becking, Bruno Paulson ESG Scores: Comparing apples to oranges

Sustainability Insight • 13-Dec-2018
The Value of Engagement William Lock, Dirk Hoffmann-Becking, Bruno Paulson Not all portfolio managers speak directly with senior managements of the firms they hold. William Lock explains why direct engagement is vital.

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