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carons-corner fixed-income Fixed Income audio
Caron's Corner  •  26-Jan-2022  •  9:11 Min

Fed Meeting: A Clear Lack of Clarity 

Global Fixed Income Team
Jim Caron, Portfolio Manager and Chief Fixed Income Strategist for the Global Fixed Income Team, shares his macro thematic views on key market drivers.

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Caron's Corner  •  24-Jan-2022  •  13:41 Min

Shift F9: A Fed Policy Reset 

Global Fixed Income Team
Jim Caron, Portfolio Manager and Chief Fixed Income Strategist for the Global Fixed Income Team, shares his macro thematic views on key market drivers.

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2022-outlooks real-assets Real Assets page
2022 Outlook  •  20-Jan-2022

Top Trends for Real Estate and REITs in 2022 and Beyond 

Global Listed Real Assets Team
The Global Listed Real Assets Team sees favorable macroeconomics and secular tailwinds favoring global real estate and REITs in 2022.

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2022-outlooks active-fundamental-equity Active Fundamental Equity video
2022 Outlook  •  18-Jan-2022

The Search for Better Outcomes - Video 

International Equity Team
Whether looked at through the lens of economics, health, politics or sustainability, what outcomes might we see in the year ahead? Here more from the Marte Borhaug, Head of Sustainable Outcomes for the International Equity Team.

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2022-outlooks active-fundamental-equity Active Fundamental Equity page
2022 Outlook  •  18-Jan-2022

The Search for Better Outcomes  

International Equity Team
Companies faced with a changing world and seeking to deliver better sustainable outcomes must explore their surroundings and seek new information for survival. The International Equity team’s Marte Borhurg explores.

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2022-outlooks page
2022 Outlook  •  18-Jan-2022

Carbon Risk, Human Capital Management to Impact Security Prices in 2022 

John Streur
Calvert Research and Management CEO John Streur expects actions by regulators, corporations and investors to increase the importance placed on ESG factors in investment decisions across global capital markets in 2022. For more, please read his full 2022 outlook.

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2022-outlooks page
2022 Outlook  •  18-Jan-2022

Unearthing opportunities in an altered landscape 

John Baur, Marshall Stocke
For every country like Turkey, where heterodox policy is cause for concern, Co-Directors of Emerging Markets Marshall Stocker and John Baur highlight the lesser known and overlooked EM success stories. For more, please read their full 2022 outlook.

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2022-outlooks page
2022 Outlook  •  18-Jan-2022

Forging Opportunities in a Changing High Yield Market 

Jeff Mueller, Steve Concannon
As demand from U.S. and global institutional investors provides potential support following episodes of weakness, Co-Directors of High Yield Jeff Mueller and Steve Concannon discuss potential buying opportunities available to long-term oriented investors. For more, please read their full 2022 outlook.

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2022-outlooks solutions-and-multi-asset Solutions & Multi-Asset page
2022 Outlook  •  18-Jan-2022

Rising rates key in shaping road to recovery 

Global Balanced Risk Control Team
Labor market and inflation dynamics are paving the way toward a tightening of monetary policy by the Fed. The Global Balanced Risk Control Team discusses where they see risks and opportunities and their latest tactical views.

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2022-outlooks solutions-and-multi-asset Solutions & Multi-Asset video
2022 Outlook  •  18-Jan-2022

Rising rates key in shaping road to recovery - Video 

Global Balanced Risk Control Team
Labor market and inflation dynamics are paving the way toward a tightening of monetary policy by the Fed. The Global Balanced Risk Control Team discusses where they see risks and opportunities and their latest tactical views.

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2022-outlooks page
2022 Outlook  •  18-Jan-2022

As Municipal Bonds Remain an Attractive Diversifier, Counteract Absolute Low Rates with Active Management 

Nisha Patel
Director of Portfolio Management Nisha Patel believes the fragmented nature of the municipal bond market and the heavy influence of retail investors may result in inefficiencies that may be exploited to achieve additional return through active management and relative value trading. For more, please read her full 2022 outlook.

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2022-outlooks page
2022 Outlook  •  18-Jan-2022

Loans take center stage as inflation threat grows for 2022 

Ralph Hinckley, Andrew Sveen
In a year when concerns over tightened monetary policy rising rates and inflation periodically wracked the markets, Co-Director of Bank Loans explains why the asset class outperformed in 2021 and why he believes loans deserve consideration for helping conserve fixed‐income portfolios in rising rate environments. For more, please read his full 2022 outlook.

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2022-outlooks page
2022 Outlook  •  18-Jan-2022

2022 Global Equity Outlook Favors Quality Stocks, Non-U.S. Markets 

Chris Dyer, Ian Kirwan
Director of Global Equity Chris Dyer expects potentially solid economic growth across developed economies in 2022, albeit at a slower pace than the recovery‐driven levels seen in 2021. For more, please read his full 2022 outlook.

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2022-outlooks page
2022 Outlook  •  18-Jan-2022

Flexibility Will Be Key for U.S. Multisector Income 

Vishal Khanduja
Director of Investment Grade Fixed Income Portfolio Management and Trading Vishal Khanduja expects inflation to moderate from the most recent spike in 2021 as global supply disruptions and durable goods demand may continue to ease. For more, please read his full 2022 outlook.

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2022-outlooks page
2022 Outlook  •  18-Jan-2022

A Changing Rate Environment in 2022 Could Benefit Active MBS Investors 

Andrew Szczurowski
Director of Mortgage-Backed Securities Andrew Scczurowski believes that agency MBS investors could potentially outperform in a rising rate environment by moving up in coupon. For more, please read his full 2022 outlook.

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2022-outlooks page
2022 Outlook  •  18-Jan-2022

Stay Active to Capitalize on Municipal Bond Opportunities 

Cynthia Clemson, Craig Brandon
In the face of expected increases in tax rates and likely rate hikes from the U.S. Federal Reserve, Co-Directors of Municipal Investments Cindy Clemson and Craig Brandon believe that municipal bonds should remain an important and diversified component of a suitable investor’s portfolio. For more, please read their full 2022 outlook.

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2022-outlooks fixed-income Fixed Income page
2022 Outlook  •  18-Jan-2022

No Market Consensus Widens the Opportunity Set  

Global Fixed Income Team
Jim Caron, Portfolio Manager and Chief Fixed Income Strategist for the Global Fixed Incomed team, sees great potential for active – and selective – investors building fixed income portfolios in the upcoming year

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2022-outlooks active-fundamental-equity Active Fundamental Equity page
2022 Outlook  •  17-Jan-2022

Capturing Opportunity in Fast-Changing Emerging Markets 

Emerging Markets Equity Team
EM equities are poised for a comeback in 2022 and beyond. Jitania Kandhari, Deputy CIO of the Solutions and Multi-Asset Group, Portfolio Manager for Active International Allocation, Head of Macro and Thematic Research for the Emerging Markets Equity team, shares five reasons why.

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2022-outlooks active-fundamental-equity Active Fundamental Equity video
2022 Outlook  •  17-Jan-2022

Capturing Opportunity in Fast-Changing Emerging Markets - Video 

Emerging Markets Equity Team
EM equities are poised for a comeback in 2022 and beyond. Jitania Kandhari, Deputy CIO of the Solutions and Multi-Asset Group, Portfolio Manager for Active International Allocation, Head of Macro and Thematic Research for the Emerging Markets Equity team, shares five reasons why.

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2022-outlooks solutions-and-multi-asset Solutions & Multi-Asset page
2022 Outlook  •  17-Jan-2022

History Is Not To Be Ignored 

Applied Equity Advisors Team
Andrew Slimmon looks at the history of post-recessionary environments and concludes that despite a less accommodative Fed, equity returns should be in positive territory again in 2022.

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2022-outlooks solutions-and-multi-asset Solutions & Multi-Asset video
2022 Outlook  •  17-Jan-2022

History Is Not To Be Ignored - Video 

Applied Equity Advisors Team
Andrew Slimmon, Senior Portfolio Manager and Head of the Applied Equity Advisors team for the shares his thoughts on 2022.

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Global Fixed Income Bulletin  •  15-Jan-2022

Déjà vu? No, 2022 Will Not Look Like 2021 

Global Fixed Income Team
How impactful will Omicron be? How much should markets fear the Fed? Will inflation slow? The Global Fixed Income Team examine the prevailing market dynamics.

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2022-outlooks real-assets Real Assets page
2022 Outlook  •  14-Jan-2022

2022 Global Real Estate Outlook Late-Cycle Investing Philosophy Comes Early 

Morgan Stanley Real Estate Investing
2021 swift economic recovery has propelled the global economy to the mid-phase of a typical economic cycle. With GDP growth expected to moderate, and monetary policy to tighten, Morgan Stanley Real Estate Investing examine what the new phase may mean for the asset class.

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2022-outlooks solutions-and-multi-asset Solutions & Multi-Asset page
2022 Outlook  •  13-Jan-2022

Hedge Funds in 2022: Changing With Changing Risk 

AIP Hedge Fund Team
Our AIP Hedge Fund Solutions team examines the changing nature of risk that we can expect to see in 2022. Rising volatility and performance dispersion creates an opportunity for hedge fund managers in the new year.

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2022-outlooks page
2022 Outlook  •  12-Jan-2022

Seizing Opportunity With Value Equity in 2022 

The Eaton Vance Value Equity Team makes the case for Value investing in 2022.

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Caron's Corner  •  10-Jan-2022  •  12:51 Min

Why the Fed’s Balance Sheet May Matter More than Rate Hikes 

Global Fixed Income Team
Jim Caron, Portfolio Manager and Chief Fixed Income Strategist for the Global Fixed Income Team, shares his macro thematic views on key market drivers.

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2022-outlooks fixed-income Fixed Income page
2022 Outlook  •  05-Jan-2022

Corporate Performance to Support Credit Spreads  

Global Fixed Income Team
The Global Fixed Income Team shares it views on the credit market in the upcoming year.

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sustainable-investing private-credit-and-equity Private Credit & Equity page
Sustainable Investing  •  04-Jan-2022

Push and Pull Factors Drive the Evolution of Sustainable Investing in Private Markets 

Morgan Stanley Next Level
The importance of sustainability continues to increase in the private markets. Here we examine the factors, such as government legislation and client preferences, that are driving the change and evolution towards better sustainable investing practices.

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global-equity-observer active-fundamental-equity Active Fundamental Equity page
Global Equity Observer  •  30-Dec-2021

To the Moon? Quality Investing and Blockchain 

International Equity Team
Blockchain technology not only underpins cryptocurrencies but has the potential to alter existing industry dynamics and encourage cooperation among natural competitors, resulting in greater efficiencies and higher quality. Alex Gabriele of the International Equity team explains.

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edge active-fundamental-equity Active Fundamental Equity page
EDGE  •  26-Dec-2021

Drones 

Counterpoint Global
After decades of development in garages and hobby shops, small drones are finally ready to make an impact in the enterprise. We discuss the evolution of enterprise drones and how the technology could disrupt small package delivery and aerial data collection. We also discuss the regulatory and societal challenges facing the enterprise drone industry today and highlight recent progress towards overcoming those challenges.

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takeaways-key-expectations solutions-and-multi-asset Solutions & Multi-Asset page
Takeaways & Key Expectations  •  22-Dec-2021

Equity Market Commentary - December 2021 

Applied Equity Advisors Team
In his December TAKE Andrew Slimmon suspects that the Bulls will outshine the Bears yet again in 2022.

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global-fixed-income-bulletin fixed-income Fixed Income page
Global Fixed Income Bulletin  •  15-Dec-2021

And the Beat Goes On … 

Global Fixed Income Team
Uncertainty around Omicron in conjunction with hawkish central banks has upended credit and equity markets. How will this affect the growth/inflation nexus?

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Caron's Corner  •  13-Dec-2021  •  10:34 Min

Yield Trap? Why U.S. Bond Yields May Struggle to Rise 

Global Fixed Income Team
Jim Caron, Senior Portfolio Manager and Chief Strategist for the Global Fixed Income Team, shares his macro thematic views on key market drivers.

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Caron's Corner  •  06-Dec-2021  •  13:29 Min

Can You Handle the Truth? What the Yield Curve Is Telling Us. 

Global Fixed Income Team
Jim Caron, Senior Portfolio Manager and Chief Strategist for the Global Fixed Income Team, shares his macro thematic views on key market drivers.

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active-fundamental-equity Active Fundamental Equity video
Insight Video  •  06-Dec-2021  •  2:19 Min

Health of the economy and our portfolios 

International Equity Team
The International Equity Team’s Bruno Paulson discusses how the team positions its global portfolios to achieve concentrated exposure to long-term compounders, no matter macroeconomic conditions.

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Caron's Corner  •  29-Nov-2021  •  11:50 Min

Once More Unto the Breach. . .but Looking for Opportunities Amid Volatility 

Global Fixed Income Team
Jim Caron, Senior Portfolio Manager and Chief Strategist for the Global Fixed Income Team, shares his macro thematic views on key market drivers.

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global-equity-observer active-fundamental-equity Active Fundamental Equity page
Global Equity Observer  •  24-Nov-2021

Supply Chain Squeeze  

International Equity Team
Something unusual is underfoot: company profit warnings caused by a lack of supply, rather than an unexpected drop in demand. In this environment pricing power is vital to profit margin, as the International Equity team explains.

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fixed-income Fixed Income page
Insight Article  •  15-Nov-2021

Credit Markets Brace for Inflation: Winners vs. Losers 

Global Fixed Income Team
With U.S. inflation accelerating to its highest rate in a decade, the U.S. Investment Grade Research Team provides a detailed snapshot on the effects the surrounding uncertainty is having on fixed income sectors.

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Caron's Corner  •  15-Nov-2021  •  12:47 Min

2022: A Year Ahead Without a Consensus  

Global Fixed Income Team
Jim Caron, Senior Portfolio Manager and Chief Strategist for the Global Fixed Income Team, shares his macro thematic views on key market drivers.

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global-fixed-income-bulletin fixed-income Fixed Income page
Global Fixed Income Bulletin  •  15-Nov-2021

Is Monetary Policy Angst Overdone? 

Global Fixed Income Team
While policy normalization has begun, learn why we believe major central banks will likely take a more leisurely approach to policy adjustments than the market expects and why we feel it will be a ‘long and winding road’ to tighter monetary policy.

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Caron's Corner  •  08-Nov-2021  •  12:45 Min

Market Disconnect? Bond Yields Face-Off Against Inflation Risks 

Global Fixed Income Team
Jim Caron, Senior Portfolio Manager and Chief Strategist for the Global Fixed Income Team, shares his macro thematic views on key market drivers.

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takeaways-key-expectations solutions-and-multi-asset Solutions & Multi-Asset page
Takeaways & Key Expectations  •  08-Nov-2021

Equity Market Commentary - November 2021 

Applied Equity Advisors Team
In his November TAKE, Andrew Slimmon details why it’s entirely logical the S&P 500 has done so well this year. And the market is following one of the most simplistic rules of investing.

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Sustainable Investing  •  03-Nov-2021  •  2:42 Min

Sustainable investing and how it impacts corporations and investment managers 

International Equity Team
Bruno Paulson discusses how the increase in sustainable investing regulations is impacting corporations and investment managers.

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Caron's Corner  •  03-Nov-2021  •  10:35 Min

FOMC Recap: Policy Optionality Matters - No Rush to Hike Rates  

Global Fixed Income Team
Jim Caron, Senior Portfolio Manager and Chief Strategist for the Global Fixed Income Team, shares his macro thematic views on key market drivers.

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Caron's Corner  •  01-Nov-2021  •  12:50 Min

Trouble with the (Yield) Curve? No. Financial Conditions Still Easy 

Global Fixed Income Team
Jim Caron, Senior Portfolio Manager and Chief Strategist for the Global Fixed Income Team, shares his macro thematic views on key market drivers.

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global-multi-asset-viewpoint solutions-and-multi-asset Solutions & Multi-Asset page
Global Multi-Asset Viewpoint  •  31-Oct-2021

Evergrande: What If The Cavalry Never Comes? 

Cyril Moulle-Berteaux, Sergei Parmenov
MSIM’s Global Multi-Asset Team discusses their investment perspective in the latest viewpoint: “Evergrande: What If The Cavalry Never Comes?"

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INSIGHT VIDEO  •  26-Oct-2021

Global Sustain – High quality, low carbon investing 

International Equity Team
In 60 seconds learn about the carbon-light global equity portfolio that is resilient through volatility, aligns with your priorities, and is managed by portfolio managers with the access to engage directly with companies.

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sustainable-investing active-fundamental-equity Active Fundamental Equity page
Sustainable Investing  •  26-Oct-2021

Decarbonisation: The Inevitable Policy Response 

Vladimir Demine, Candida de Sliva
In the second paper of their decarbonisation series, the International Equity team focuses on what the UN Principles for Responsible Investing refer to as the ‘inevitable policy response’ to global warming and asks: why does this matter for investors?

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carons-corner fixed-income Fixed Income audio
Caron's Corner  •  25-Oct-2021  •  17:00 Min

A Bearish View on the U.S. Dollar and its Impact on the Market 

Global Fixed Income Team
Jim Caron, Senior Portfolio Manager and Chief Strategist for the Global Fixed Income Team, shares his macro thematic views on key market drivers.

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Global Equity Observer  •  25-Oct-2021

No Margin for Error  

International Equity Team
Against a relatively positive macroeconomic outlook, there is the potential for significant cost pressures over the next decade, where pricing power will be the key for quality companies to protect margins. The International Equity team explores.

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sustainable-investing engagement-report active-fundamental-equity Active Fundamental Equity page
Engagement Report  •  25-Oct-2021

Engage Autumn 2021 

International Equity Team
The latest edition of Engage, the International Equity Team’s semi-annual update on their ESG engagement activity.

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carons-corner fixed-income Fixed Income audio
Caron's Corner  •  18-Oct-2021  •  12:33 Min

Take it or Leave it: Global Central Banks Are Split on How to Handle Inflation 

Global Fixed Income Team
Jim Caron, Senior Portfolio Manager and Chief Strategist for the Global Fixed Income Team, shares his macro thematic views on key market drivers.

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global-fixed-income-bulletin fixed-income Fixed Income page
Global Fixed Income Bulletin  •  15-Oct-2021

Who Let the Hawks Out? 

Global Fixed Income Team
With inflationary pressures stronger and central banks less dovish, we expect government bond yields to drift higher as we move towards tighter monetary policy.

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sustainable-investing solutions-and-multi-asset Solutions & Multi-Asset page
Sustainable Investing  •  05-Oct-2021

Climate Transition 

Andrew Harmstone, Li Zhang, Christian Goldsmith
Given the increasingly disruptive force of climate events, achieving net-zero carbon emission promises to be one of the themes driving investment markets over the coming decades. We analyse responses, risks and opportunities by country and sector.

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global-multi-asset-viewpoint solutions-and-multi-asset Solutions & Multi-Asset page
Global Multi-Asset Viewpoint  •  04-Oct-2021

What Is The Bond Market Thinking? 

Cyril Moulle-Berteaux, Sergei Parmenov
MSIM’s Global Multi-Asset Team discusses their investment perspective in the latest viewpoint: “What Is The Bond Market Thinking?"

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carons-corner fixed-income Fixed Income audio
Caron's Corner  •  04-Oct-2021  •  13:38 Min

Stagflation? No! But Watch the Dollar. 

Global Fixed Income Team
Jim Caron, Senior Portfolio Manager and Chief Strategist for the Global Fixed Income Team, shares his macro thematic views on key market drivers.

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global-multi-asset-viewpoint solutions-and-multi-asset Solutions & Multi-Asset page
Global Multi-Asset Viewpoint  •  30-Sep-2021

Why the U.S. Housing Boom Can Continue 

Cyril Moulle-Berteaux, Sergei Parmenov
MSIM’s Global Multi-Asset Team discusses their investment perspective in the latest viewpoint: “Why the U.S. Housing Boom Can Continue"

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active-fundamental-equity Active Fundamental Equity video
Insight Video  •  29-Sep-2021  •  1:44 Min

Long-term impact of the pandemic 

International Equity Team
Bruno Paulson discusses what he believes may be the long-term impact of the pandemic.

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carons-corner fixed-income Fixed Income audio
Caron's Corner  •  27-Sep-2021  •  9:16 Min

Why U.S. Bond Yields Are Rising – and How High They May Go 

Global Fixed Income Team
Jim Caron, Senior Portfolio Manager and Chief Strategist for the Global Fixed Income Team, shares his macro thematic views on key market drivers.

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Caron's Corner  •  22-Sep-2021  •  11:14 Min

FOMC Recap: Hawkish Dot-plot, but Dovish Presser  

Global Fixed Income Team
Jim Caron, Senior Portfolio Manager and Chief Strategist for the Global Fixed Income Team, shares his macro thematic views on key market drivers.

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Caron's Corner  •  20-Sep-2021  •  8:25 Min

Ambiguity, not Volatility, Is the Primary Market Risk Currently – How Will the Fed React? 

Global Fixed Income Team
Jim Caron, Senior Portfolio Manager and Chief Strategist for the Global Fixed Income Team, shares his macro thematic views on key market drivers.

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global-fixed-income-bulletin fixed-income Fixed Income page
Global Fixed Income Bulletin  •  15-Sep-2021

Traversing Peaks 

Global Fixed Income Team
With investors debating when economic growth, Covid and inflation will peak, it may be useful to focus on what we know with certainty rather than sentiment.

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global-equity-observer active-fundamental-equity Active Fundamental Equity page
Global Equity Observer  •  14-Sep-2021

Advance Warming 

International Equity Team
The summer of fire and floods has highlighted the compounding effect of global warming, presenting companies with an array of risks and opportunities. Laura Bottega explains how these ESG factors help shape our portfolios.

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carons-corner fixed-income Fixed Income audio
Caron's Corner  •  13-Sep-2021  •  09:20 Min

The Payfors of Taxes, Debt and Inflation May Create a Noisy September 

Global Fixed Income Team
Jim Caron, Senior Portfolio Manager and Chief Strategist for the Global Fixed Income Team, shares his macro thematic views on key market drivers.

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takeaways-key-expectations solutions-and-multi-asset Solutions & Multi-Asset page
Takeaways & Key Expectations  •  10-Sep-2021

Equity Market Commentary - Sept 2021 

Applied Equity Advisors Team
In his September TAKE, Andrew Slimmon discusses, region by region, where he and his Applied Equity Advisors team see the best equity opportunities and how their portfolios are positioned.

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consilient-observer active-fundamental-equity Active Fundamental Equity page
Consilient Observer  •  08-Sep-2021

Turn and Face the Strange 

Michael Mauboussin, Dan Callahan
This report examines the barriers to change for organizations. We use sports as the prime example but then apply the lessons to investment management. Organizations can be slow to adopt certain approaches even when they add value due to loss aversion, a preference for the status quo, and the fear of poor outcomes in the short run. Organizations may overcome these challenges by aligning behind a commitment to improvement, learning, transparency, and accountability. Good long-term results require developing and executing strategies that add value.

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Caron's Corner  •  07-Sep-2021  •  11:01 Min

The Four Corners of Risk – And Why Yields Can Rise 

Global Fixed Income Team
Jim Caron, Senior Portfolio Manager and Chief Strategist for the Global Fixed Income Team, shares his macro thematic views on key market drivers.

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global-multi-asset-viewpoint solutions-and-multi-asset Solutions & Multi-Asset page
Global Multi-Asset Viewpoint  •  31-Aug-2021

Inflation Outlook – One Year Later 

Cyril Moulle-Berteaux, Sergei Parmenov
MSIM’s Global Multi-Asset Team discusses their investment perspective in the latest viewpoint: “Inflation Outlook – One Year Later"

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carons-corner fixed-income Fixed Income audio
Caron's Corner  •  30-Aug-2021  •  8:10 Min

Still on Easy Street – But What Are the Risks? 

Global Fixed Income Team
Jim Caron, Senior Portfolio Manager and Chief Strategist for the Global Fixed Income Team, shares his macro thematic views on key market drivers.

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carons-corner fixed-income Fixed Income audio
Caron's Corner  •  23-Aug-2021

The Impact of a Shift From Reflation to Recovery 

Global Fixed Income Team
Jim Caron, Senior Portfolio Manager and Chief Strategist for the Global Fixed Income Team, shares his macro thematic views on key market drivers.

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global-equity-observer active-fundamental-equity Active Fundamental Equity page
Global Equity Observer  •  23-Aug-2021

Global Equity Observer: A Collection of Quality Insights – Volume 1 

International Equity Team
This May, the International Equity team celebrated the publication of our 50th Global Equity Observer (GEO) – our monthly series of investment insights through the lens of our high quality investment approach. We are delighted to share with you this selection of articles from our GEO series.

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global-fixed-income-bulletin fixed-income Fixed Income page
Global Fixed Income Bulletin  •  19-Aug-2021

What's Going On?  

Global Fixed Income Team
Looking at the performance of U.S. Treasuries (and other developed government bond markets), one could be forgiven if one believed the economy was sinking. Other financial asset prices are sending a message that all is well. What gives? The Global Fixed Income Team explores.

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Global Equity Observer  •  13-Aug-2021

Back to Basics 

International Equity Team
In a world of daily financial chatter, it’s easy to get distracted from what drives the core of long-term returns; the power of compounding. William Lock and Alistair Corden-Lloyd explain.

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tales-from-the-emerging-world active-fundamental-equity Active Fundamental Equity page
Tales From the Emerging World  •  10-Aug-2021

The Electric Summer of ’91: India’s Hopes Then and Now 

Emerging Markets Equity Team
India needs to keep in mind is that its economy is still relatively unfree, and so more than ever it should buck the global trend of more regulation and bigger government. Ruchir Sharma, Chief Global Strategist, explains.

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consilient-observer active-fundamental-equity Active Fundamental Equity page
Consilient Observer  •  03-Aug-2021

Everything Is a DCF Model 

Michael Mauboussin, Dan Callahan
We suggest the mantra “everything is a DCF model.” Whenever investors value a stake in a cash-generating asset, they should recognize they are using a discounted cash flow (DCF) model. The topic deserves attention because many market participants don’t think DCF models are relevant, and many use heuristics for value without recognizing the purpose and limitations of the shorthands. The intrinsic value, determined by the present value of future cash flows, attracts the price like a magnetic force. This means it is useful for investors to keep in mind the value drivers of a discounted cash flow model.

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carons-corner fixed-income Fixed Income audio
Caron's Corner  •  02-Aug-2021  •  11:45 Min

Money Never Sleeps. . .but Bond Yields Do 

Global Fixed Income Team
Jim Caron, Senior Portfolio Manager and Chief Strategist for the Global Fixed Income Team, shares his macro thematic views on key market drivers.

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private-credit-and-equity Private Credit & Equity page
Investment Focus  •  31-Jul-2021

Where to Next: A Framework for Resilience 

AIP Private Markets Team
The AIP Private Markets team explains their framework for selecting companeis and constructing a portfolio that seeks to withstand changes in the economic cycle.

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private-credit-and-equity Private Credit & Equity page
Insight Article  •  31-Jul-2021

Increasing Duration Opens Up New Realms for the Private Equity Secondaries Market 

AIP Private Markets Team
The AIP Private Markets Secondaries team explores possible solutions to check or reverse the upward trend in duration and allay investors' concerns about increasing their allocation to private equity.

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carons-corner fixed-income Fixed Income audio
Caron's Corner  •  26-Jul-2021  •  8:51 Min

Why Bond Yields Are Low – Technicals vs. Fundamentals 

Global Fixed Income Team
Jim Caron, Senior Portfolio Manager and Chief Strategist for the Global Fixed Income Team, shares his macro thematic views on key market drivers.

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global-equity-observer active-fundamental-equity Active Fundamental Equity page
Global Equity Observer  •  23-Jul-2021

Quality in a Brave New World 

International Equity Team
The International Equity team argues that the case for quality compounders remains largely unchanged in the “Brave New World” of reflation and inflation. Bruno Paulson discusses.

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tales-from-the-emerging-world active-fundamental-equity Active Fundamental Equity page
Tales From the Emerging World  •  20-Jul-2021

Whither the Bubblets of 2021? 

Emerging Markets Equity Team
As worry spreads about the rise and fall of market bubbles, questions are asked about whether these price moves count as “bubbles,” poised to pop. Ruchir Sharma, Chief Global Strategist, looks at history for the answer.

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sustainable-investing real-assets Real Assets page
Sustainable Investing  •  19-Jul-2021

Climate-Related Risk Data for Real Assets: A Framework for Assessment  

Morgan Stanley Real Estate Investing
A new framework for assessing climate risk data may help real estate investors evaluate risks.

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carons-corner fixed-income Fixed Income audio
Caron's Corner  •  19-Jul-2021  •  9:49 Min

Pricing the Trough After the Peak - but the Level Matters 

Global Fixed Income Team
Jim Caron, Senior Portfolio Manager and Chief Strategist for the Global Fixed Income Team, shares his macro thematic views on key market drivers.

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global-fixed-income-bulletin fixed-income Fixed Income page
Global Fixed Income Bulletin  •  16-Jul-2021

Where Is All the Yield Going? 

Global Fixed Income Team
Yields continuing to fall, credit spreads tightening and equities rallying despite bearish news. The Global Fixed Income team discuss an extraordinary June.

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takeaways-key-expectations solutions-and-multi-asset Solutions & Multi-Asset page
Takeaways & Key Expectations  •  14-Jul-2021

Equity Market Commentary - July 2021 

Applied Equity Advisors Team
In his July TAKE, Andrew Slimmon shares his thoughts on the latest equity selloff in China and where he and his Applied Equity Advisors team stand with respect to the longer term investment prospects.

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carons-corner fixed-income Fixed Income audio
Caron's Corner  •  12-Jul-2021  •  10:32 Min

Reflation and Reverse Repos: Following the Money 

Global Fixed Income Team
Jim Caron, Senior Portfolio Manager and Chief Strategist for the Global Fixed Income Team, shares his macro thematic views on key market drivers.

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carons-corner fixed-income Fixed Income audio
Caron's Corner  •  06-Jul-2021  •  7:07 Min

Bond Yields Are Falling Despite Stronger Data: What’s Going On? 

Global Fixed Income Team
Jim Caron, Senior Portfolio Manager and Chief Strategist for the Global Fixed Income Team, shares his macro thematic views on key market drivers.

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resilience solutions-and-multi-asset Solutions & Multi-Asset page
Resilience  •  30-Jun-2021

Long Short Equity Strategies: "Hedging" Your Bets 

AIP Hedge Fund Team
Amid the market uncertainty caused by the COVID-19 pandemic, investors may be seeking ways to add resilience to their portfolios. Long-short equity strategies have the potential to deliver steady returns in volatile markets.

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market-pulse fixed-income Fixed Income page
Market Pulse  •  30-Jun-2021

The Policy Puzzle: Procyclical or Countercyclical 

Global Fixed Income Team
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.

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market-pulse active-fundamental-equity Active Fundamental Equity audio
Market Pulse  •  29-Jun-2021  •  4:29 Min

Why the Commodity Boom Can Last 

Emerging Markets Equity Team
Jitania Kandhari, Head of Macroeconomic Research for the Emerging Markets Equity Team and Co-Manager of the Active International Allocation Portfolio, thinks the recent surge in commodity prices has years to run.

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carons-corner fixed-income Fixed Income audio
Caron's Corner  •  28-Jun-2021  •  14:12 Min

Infrastructure a-Go-go: What it Means for Markets 

Global Fixed Income Team
Jim Caron, Senior Portfolio Manager and Chief Strategist for the Global Fixed Income Team, shares his macro thematic views on key market drivers.

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private-credit-and-equity Private Credit & Equity page
Insight Article  •  23-Jun-2021

Investing in Startups Founded by Women and Multicultural Entrepreneurs 

Morgan Stanley Next Level
As part of its ongoing commitment to advance racial and economic equity, Morgan Stanley’s new Next Level Fund invests in early-stage technology companies with women and diverse members on the founding teams.

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consilient-observer active-fundamental-equity Active Fundamental Equity page
Consilient Observer  •  23-Jun-2021

The Impact of Intangibles on Base Rates 

Michael Mauboussin, Dan Callahan
The shift in investments from tangible to intangible assets has important implications for how investors should think about corporate growth rates. Companies with more intangible assets can grow faster, but they can also become irrelevant and shrink faster. Our analysis of historical sales growth rates for U.S. companies reveals both of these results: higher growth and more dispersion, on average, for companies and industries with the highest intangible asset intensity. Skillful investors may be able to identify the companies that will grow faster than expected, hence providing the potential for attractive returns.

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global-equity-observer active-fundamental-equity Active Fundamental Equity page
Global Equity Observer  •  22-Jun-2021

Low Carbon Ambition 

International Equity Team
The companies within the International Equity team’s portfolios are encouraging their customers to live more sustainably. William Lock and Laura Bottega discuss.

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carons-corner fixed-income Fixed Income audio
Caron's Corner  •  21-Jun-2021  •  11:18 Min

Is This the Start of Something Bigger? A Look at Asset Pricing 

Global Fixed Income Team
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.

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takeaways-key-expectations solutions-and-multi-asset Solutions & Multi-Asset page
Takeaways & Key Expectations  •  16-Jun-2021

Equity Market Commentary - June 2021 

Applied Equity Advisors Team
In his June TAKE, Andrew Slimmon shares a number of historical market precedents that may provide insight regarding current equity markets and investor behavior.

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global-fixed-income-bulletin fixed-income Fixed Income page
Global Fixed Income Bulletin  •  16-Jun-2021

Where Did Volatility Go? 

Global Fixed Income Team
A quiet May saw the constructive market narrative continue. How long will this last, what does this mean for investors? The Global Fixed Income team discuss.

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carons-corner fixed-income Fixed Income audio
Caron's Corner  •  16-Jun-2021  •  8:41 Min

Key Takeaways From Today’s Fed Meeting 

Global Fixed Income Team
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.

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carons-corner fixed-income Fixed Income audio
Caron's Corner  •  14-Jun-2021  •  11:16 Min

What if Inflation Is Not Transitory - and What Happens Next? 

Global Fixed Income Team
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.

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sustainable-investing fixed-income Fixed Income page
Sustainable Investing  •  08-Jun-2021

MSIM’s Securitized Sustainability Framework: Promoting Responsible Lending & Driving Positive Impact Alignment 

Gregory Finck, Navindu Katugampola, Barbara Calvi, Erin K. Glenn
Environmental, Social and Governance (ESG) factors are most often discussed in the context of corporate and sovereign debt issuers. But that’s changing, according to the Securitized Fixed Income Team, as client demand is driving change when it comes to mortgage and other asset-backed securities.

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carons-corner fixed-income Fixed Income audio
Caron's Corner  •  07-Jun-2021  •  11:54 Min

The Jobs "Wager"  

Global Fixed Income Team
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.

caronscorner-Insight-Tile-1x1
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sustainable-investing page
Sustainable Investing  •  03-Jun-2021

Mona Benisi Wins 2021 Women in Sustainability Leadership Award 

Mona Benisi wins prestigious Women in Sustainability Leadership Award

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tales-from-the-emerging-world active-fundamental-equity Active Fundamental Equity page
Tales From the Emerging World  •  02-Jun-2021

Where the Digital Future Will Unfold 

Emerging Markets Equity Team
The most ingenious uses of future digital technology are likely to be shaped in the emerging world. Ruchir Sharma, Chief Global Strategist, discusses.

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sustainable-investing fixed-income Fixed Income page
Sustainable Investing  •  02-Jun-2021

MSIM Fixed Income Engagement Strategy: Integrated, Insightful, Influential 

Barbara Calvi, Navindu Katugampola, Anuj Gulati
Fixed income investors play an important role in pursuing positive sustainability outcomes through a constructive dialogue with issuers around ESG. The MSIM Global Fixed Income Team explains how they incorporate engagement throughout their investment process.

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carons-corner fixed-income Fixed Income audio
Caron's Corner  •  01-Jun-2021  •  11:16 Min

Labor, Labor, Everywhere, Not a Person to Hire 

Global Fixed Income Team
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.

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global-multi-asset-viewpoint solutions-and-multi-asset Solutions & Multi-Asset page
Global Multi-Asset Viewpoint  •  30-May-2021

Sectoral Bubbles in U.S. Equities 

Cyril Moulle-Berteaux, Sergei Parmenov
MSIM’s Global Multi-Asset Team discusses their investment perspective in the latest viewpoint: “Sectoral Bubbles in U.S. Equities"

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global-equity-observer active-fundamental-equity Active Fundamental Equity page
Global Equity Observer  •  26-May-2021

Scale and Diversification 

International Equity Team
The twin virtues of scale and diversification in our high-quality holdings have played a part in their strong earnings performance both through the recent crisis and over time. Marcus Watson explains.

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market-pulse fixed-income Fixed Income audio
Market Pulse  •  25-May-2021  •  12:00 Min

Fixed Income Update with Kevin Lynyak 

Fixed Income Managed Solutions
Kevin Lynyak, Head of Fixed Income Managed Solutions and Lead Fixed Income Portfolio Manager, discusses trends, risks and opportunities in the fixed income markets. Listen now.

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takeaways-key-expectations solutions-and-multi-asset Solutions & Multi-Asset page
Takeaways & Key Expectations  •  24-May-2021

Equity Market Commentary - May 2021 

Applied Equity Advisors Team
In his May TAKE, Andrew Slimmon shares his thoughts about what might happen to the U.S. equity markets should Wall Street continue to revise earnings estimates upward.

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carons-corner fixed-income Fixed Income audio
Caron's Corner  •  24-May-2021  •  8:24 Min

It’s Better to Travel Than Arrive 

Global Fixed Income Team
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.

caronscorner-Insight-Tile-1x1
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consilient-observer active-fundamental-equity Active Fundamental Equity page
Consilient Observer  •  19-May-2021

The Economics of Customer Businesses 

Michael Mauboussin, Dan Callahan
This report focuses on the customer as the basic unit of analysis in understanding value. The idea of customer lifetime value has been around for decades, but we believe our discussion is richer and more nuanced than what many companies and analysts present. We discuss a framework called customer-based corporate valuation, which links customer economics to shareholder value and offers a more robust way to forecast revenues. We also show the limitations of common ratios such as customer lifetime value to customer acquisition cost (LTV/CAC), explore how companies can create consumer and supplier surplus, provide a case study, examine trade-offs in the drivers of value, and explore common errors.

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carons-corner fixed-income Fixed Income audio
Caron's Corner  •  17-May-2021  •  11:48 Min

Like Looking Through a Dirty Window: The Data Is Noisy and Unclear 

Global Fixed Income Team
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.

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global-fixed-income-bulletin fixed-income Fixed Income page
Global Fixed Income Bulletin  •  14-May-2021

Welcome to the Brave New World! 

Global Fixed Income Team
After rising significantly in March, U.S. Treasuries and most other developed market government bond yields fell measurably, despite solid, surprisingly strong economic data. The Global Fixed Income Team examines what these dynamics mean for fixed income investors.

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real-assets Real Assets page
Insight Article  •  13-May-2021

U.S. Office Workplace Survey: Reduced, Reconfigured, but Still Required 

Morgan Stanley Real Estate Investing
The largest investable commercial real estate segment in the U.S., the office sector has also been the most affected by the pandemic. Morgan Stanley Real Estate Investing conducted a survey of U.S. corporates to find out what will really be the lasting impact of COVID-19 on the sector. The findings are in the team’s latest piece.

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market-pulse fixed-income Fixed Income audio
Market Pulse  •  11-May-2021  •  10:51 Min

Fixed Income Update with Kevin Lynyak 

Fixed Income Managed Solutions
Kevin Lynyak, Head of Fixed Income Managed Solutions and Lead Fixed Income Portfolio Manager, discusses trends, risks and opportunities in the fixed income markets. Listen now.

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carons-corner fixed-income Fixed Income audio
Caron's Corner  •  10-May-2021  •  9:58 Min

There Is a Risk of Investor Complacency. Here’s How Bonds Can Help 

Global Fixed Income Team
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.

caronscorner-Insight-Tile-1x1
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market-pulse active-fundamental-equity Active Fundamental Equity audio
Market Pulse  •  05-May-2021  •  4:54 Min

Five Reasons To Be Bullish on the American Consumer 

Emerging Markets Equity Team
Jitania Kandhari, Head of Macroeconomic Research for the Emerging Markets Equity Team and Co-Manager of the Active International Allocation Portfolio, outlines her five reasons to have confidence in the American consumer.

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carons-corner fixed-income Fixed Income audio
Caron's Corner  •  03-May-2021  •  8:30 Min

Strong Data Brings Inflation Risks – Should We Be Worried? 

Global Fixed Income Team
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.

caronscorner-Insight-Tile-1x1
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real-assets Real Assets page
Media Appearance  •  03-May-2021

Back to the Future With the Energy Transition 

Morgan Stanley Infrastructure Partners
The outlook for renewable energy infrastructure in the U.S. has never looked more promising. Morgan Stanley Infrastructure Partners’ Chris Ortega discusses the importance of investing to support the whole value chain of technologies that will facilitate the transition away from carbon-intensive energy systems.

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global-multi-asset-viewpoint solutions-and-multi-asset Solutions & Multi-Asset page
Global Multi-Asset Viewpoint  •  30-Apr-2021

Could Value be Starting a Structural Bull Market? 

Cyril Moulle-Berteaux, Sergei Parmenov
MSIM’s Global Multi-Asset Team discusses their investment perspective in the latest viewpoint: “Could Value be Starting a Structural Bull Market?"

insight-tile-GMA-Viewpoint
 
global-equity-observer active-fundamental-equity Active Fundamental Equity page
Global Equity Observer  •  29-Apr-2021

Is quality now (relatively) on sale? 

International Equity Team
There are reasons to believe that the recent “Growth Bubble” may have peaked and the “Value Rally” is nearing its end. In our minds this presents an excellent opportunity to invest in Quality Compounders. Bruno Paulson explores.

10013399_Quality_on_Sale_Insight-Tile-1x1
 
market-pulse fixed-income Fixed Income page
Market Pulse  •  29-Apr-2021

A Strong Recovery in the Economy is Still Falling Short of Fed Objectives 

Global Fixed Income Team
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.

Fixed-Income-Team-Tile
 
market-pulse fixed-income Fixed Income audio
Market Pulse  •  28-Apr-2021  •  9:54 Min

Fixed Income Update with Kevin Lynyak 

Fixed Income Managed Solutions
Kevin Lynyak, Head of Fixed Income Managed Solutions and Lead Fixed Income Portfolio Manager, discusses trends, risks and opportunities in the fixed income markets. Listen now.

3398242_lynyak_Insight-Tile-1x1
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carons-corner fixed-income Fixed Income audio
Caron's Corner  •  26-Apr-2021  •  7:56 Min

The Policy Clash Point? Worries of an Easy Fed Transitioning to Future Tightening may be Premature 

Global Fixed Income Team
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.

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global-fixed-income-bulletin fixed-income Fixed Income page
Global Fixed Income Bulletin  •  23-Apr-2021

The More Things Change, the More they Stay the Same 

Global Fixed Income Team
Vaccination numbers are far better than anticipated, but, given market pricing and expectations, the strategy implications remain unchanged. GFIO Team explores.

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carons-corner fixed-income Fixed Income audio
Caron's Corner  •  19-Apr-2021  •  9:16 Min

Twin Peaks: After Growth and Fiscal Spending Plateau, What Comes Next? 

Global Fixed Income Team
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.

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consilient-observer active-fundamental-equity Active Fundamental Equity page
Consilient Observer  •  14-Apr-2021

Market-Expected Return on Investment 

Michael Mauboussin, Dan Callahan
This report describes market-expected return on investment (MEROI), which measures the return at which the present value of a company’s profits equals the present value of its investments. This allows executives and investors to see how high the bar is set. Measuring returns has become harder as investments have shifted from being mostly tangible to intangible. We gain a clearer view of returns and expectations by separating expenses and investments properly. We break new ground by connecting valuation and accounting.

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fixed-income Fixed Income page
Insight Article  •  12-Apr-2021

What a difference a year makes: High yield opportunities in 2021 

Richard Lindquist, Jack Cimarosa
Amid improving economic data, declining defaults, and the relatively low level of nominal and real yields the Global High Yield Team explains why they believe high yield bonds remain one of the most appealing investment options available across Fixed Income.