The difference between short-term and long-term yield in the U.S. and Canada is the narrowest in a decade. The flatness of the yield curve has been the subject of financial media coverage as a recessionary sign. This article summarizes our research on the meaning and impact of a flat yield curve on financial markets.
Why a...read more
Co-author: Gorlen Zhou
As of June 2018, several onshore Chinese stocks – so-called A shares – will be included in the widely followed MSCI Emerging Markets Index and MSCI All Country World Index; but don’t be swept up by the hype and marketing gimmicks surrounding the event. The...read more
Since the announcement by Kinder Morgan that it would suspend construction on its Trans Mountain Expansion Project, there have been many calls for further action by the federal or Alberta governments to ensure that the project is built. This is a matter of national priority given the stakes involved – billions of dollars and thousands of jobs,...read more
As passive penetration into fixed income picks up, active managers are increasingly making the case for how active management can benefit fixed income. Arguably, the debate between active and passive management of fixed-income investing is driven by asset-accumulation incentives on both sides. This article outlines a portfolio manager’s views...read more
Recently I attended the 2018 Citigroup Global Property CEO Conference, where over 1,200 of the world’s leading property-sector chief executive officers and investors were in attendance. The event saw a record turnout – the highest in over 20 years – which highlights the continued interest in and appetite for global property.