Institutions Log Second Consecutive Quarter of Positive Returns
After a punishing 2022 ended on a slight upswing, allocators posted a 4.1% increase in this year’s first period, per a Northern Trust study.
Market Moves
CII Opposes Admitting Dual-Class Stock to S&P Indexes
The April scrapping of a 2017 ban cleared the way for the likes of Blackstone to join the S&P 500.
Warehouses Outperform in Cloudy Commercial Real Estate Environment
Warehouses have been red-hot for a long time but show no signs of meaningfully slowing down.
Commercial Real Estate Faces ‘Staring Contest’
Even if interest rates stop going up, CRE investors face years of fine margins and crucial risk calculations.
South Korean Pension Fund Will Buy US Dollars to Boost Sinking Won
The gambit is designed to help the nation’s currency in a deal engineered by its central bank.
Gold’s Price Nears Record High, Driven by Uneasiness
Shaky banks and other worries propel the haven investment upward.
Alecta Replaces Equities Head in Wake of US Banking Losses
Liselott Ledin was placed on leave after Sweden’s largest pension fund lost almost $2 billion during recent U.S. banking failures.
Uncertainty Expected to Dominate Global Markets
Major economies ‘remain imbalanced’ with more volatility ahead, WTW finds.
Slowly It Turns: The Market Rotates Back to Rally Mode
Cyclical stock sectors re-take the lead, but with deliberation, as earnings weaken.
Inverted Yield Curve Passes Danger Line
With the spread between short and long rates upside down for more than 15 straight trading days, that portends a recession for sure by August, Bespoke warns.
Good News: An Earnings Drop Might Not Bring a 2023 Recession, Says Stovall
Profit plunges don’t always augur an economic downturn, CFRA’s top strategist finds.
Is All the Bad News Priced Into the Stock Market? Nope
A possible trap: With equities on another tear, BCA Research warns that investors really don’t appreciate all that can go wrong.
Market Volatility Erases More Than 5 Percentage Points from Public Pension Funded Ratios in September
Investment losses for the 100 largest public pensions ranged from 3.3% to 9.6% during the month.
Ladies and Gentlemen, Start Your Engines: Porsche Dual-Class IPO Goes Off Seamlessly
In Germany’s largest IPO since 1996, and Europe’s largest since 2011, Porsche’s IPO hit the road running, raising €9.4 billion on 911 million shares offered.
3rd Quarter Earnings Season Gets Off to a Wheezing Start
Banks’ so-so results don’t inspire confidence, as the stock market continues its losing ways.