May 25, 2020
Joshua Varghese's picture

Real estate is seemingly the easiest investment asset class in the world for investors to understand, as property may be the only asset class that every person on earth uses all the time. It’s therefore unsurprising that real estate, a ~$USD 230 trillion industry, is the world’s largest asset class, more than doubling the size of the...

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May 19, 2020
Jeff Elliott's picture

In my previous blog, I outlined several of the key facts and unknowns related to the current global pandemic, including potential treatments and the results of possible health policies aimed at allowing a return to “normal.” At Signature, the examination and discussion of these issues has formed a key part of our investment outlook, helping us...

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May 13, 2020
Jeff Elliott's picture

These are unprecedented times, both from a human health and welfare perspective and a market perspective. Things are moving quickly and there is a lot of misinformation and partial information circulating. It is often difficult to keep things in perspective, so data about things like the supposed Korean re-infections or the implications of a...

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April 24, 2020
Drummond Brodeur's picture

We enter the second quarter in a virtual lockdown as the world reels from the impact of the global COVID-19 pandemic. Having exploded across China in February, the virus spread quickly through the developed world in March and, we fear, may continue to make explosive inroads into many emerging economies in the coming month(s). It has been and...

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April 15, 2020
Matthew Strauss's picture

Despite some recent improvements in the markets, we remain reluctant to fully re-engage emerging market equities at this point due to several factors:

Uncertainties for emerging markets remain high as COVID-19 continues to spread. While it appears to be peaking in some countries, the full impact of the pandemic is still unknown. The...

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April 9, 2020
Jean-Philippe Bry's picture

« Il y a des décennies où rien n’arrive, et il y a des semaines où les décennies arrivent. » – Vladimir Lénine

À la différence de la crise de 2008 qui a été précipitée par une crise financière, la crise actuelle est essentiellement sanitaire, et c’est cette dernière qui a entraîné une crise économique et l’arrêt de l’activité...

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April 1, 2020
Eric Bushell's picture

The monetary and fiscal policy response to the epidemic globally has been unusually quick and effective. In two weeks, core response elements relating to economic and financial challenges have been put in place to prevent the health crisis from morphing into a broader crisis. Effective health policy and innovation will be needed, however,...

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March 26, 2020
Alexandra Gorewicz's picture

This is the first global consumer shock (especially for U.S. and Chinese consumers) since the Great Financial Recession (GFR) of 2008-2009, so the fear gripping capital markets is completely justified because the consumer has propped up the post-GFR global economic recovery. In addition, post-GFR, business investment has been quite weak (...

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March 17, 2020
Jean-Philippe Bry's picture

Of course, that was even more true of non U.S. central banks as interest rates in a majority of countries were already at 0%, but it is now also true in the U.S. where the Federal Reserve just lowered rates to 0%.

Even the recent central bank cuts of 50 basis points (1/2 a percent) in the U.S., the U.K. and Canada all saw...

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March 17, 2020
Eric Bushell's picture

In a follow-up note to our recent pieces on the COVID-19 outbreak, Signature Coronavirus Commentary - February 28, 2020 and Coronavirus: Separating the disease from the market reaction - March 2, 2020, we wanted to outline our thoughts on the developing public health responses to COVID-19 and at a high level, the potential implications...

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