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Asia eyes a tantrum-free taper this time
A faster-than-expected tapering by the Federal Reserve remains a risk for Asian bond markets, but investors have been reassured by the latest policy signals.
Chart Room: Bond markets tempt FAIT amid prospects for a steeper US yield curve
The market sees risks that the Fed will not accommodate a large inflation overshoot, but we think the yield curve may have flattened too far.
Chart Room: What Japan’s digital transformation means for markets
After years as relative laggards, Japanese companies are diving headfirst into DX, or digital transformation, and investors should take notice.
Chart Room: The crisis and opportunity in recycling single-use plastics
Production of single-use plastics is forecast to continue rising for the next decade-plus, and investment opportunities will depend greatly on recycling.
Chart Room: Stronger for longer for China’s renminbi?
Expectations for further renminbi appreciation have risen, but we think short-term gains could be capped from here.
Credit risk at China’s SOEs in focus amid Huarong saga
China’s bond and equity markets have been rattled by concerns that state-owned enterprises could face greater default risk.
Chart Room: China’s EV industry is charged for growth
The combination of falling battery costs and rising adoption rates means China's EV industry is charged for growth.
Chart Room: An uneven supercycle for commodities?
Most commodity prices have been strong this year, spurring talk of a potential supercycle. But the returns could be more dispersed from here.
Chart Room: The rapid rise of digital payments in India
The technological transformation of India’s economy has accelerated in recent years, as can clearly be seen in the accelerating shift to digital transactions.
Chart Room: Why dividends make sense in an inflationary environment
History shows how dividend-focused investment strategies can provide sustainable income in a reflationary environment.
Chart Room: China has fewer reasons to be hawkish
China's short-end rates remain low despite earlier expectations for monetary tightening.
Why India’s ‘fallen angel’ risk is rising
India’s ballooning debt levels amid a structural growth slowdown have raised the risks of an imminent downgrade by credit ratings agencies.
Deep dive on Japan: exporters bolstered by China recovery
Earnings and margins set to grow among Japanese exporters, especially those with large exposure to China.
Analyst Survey 2021: Region by region
Here we look at what Fidelity International's analysts say will be the prevailing regional trends over the next 12 months.
Chart Room: Staying afloat amid a rising tide of debt
Central banks have been playing a key role in keeping higher debt loads affordable.
Chart Room: Risk-on and on, with caveats
Caution and careful positioning are important from here, based on the latest readings from Fidelity’s risk aversion indicator.
Chart Room: The return of the value super-cycle?
In this week’s Chart Room, we look at both sides of the long-standing debate between value and growth investment styles, as seen from both Europe and China.
Chart Room: Chinese stocks, playing catchup, finally retrace 2015 highs
But the rally in China’s main onshore index still lags its US and global counterparts.
Unlocking India’s structural opportunities: 10 charts
Reforms and new infrastructure paving the way for manufacturing investment and employment will be key to unlocking India’s next stage of development.
Chart Room: Deploying the fiscal firehose
Chart Room: Deploying the fiscal firehose
Chart Room: Oil vs gold - two sides of the reopening trade
Chart Room: Oil vs gold - two sides of the reopening trade
Chart Room: The clear link between ESG and returns
How have stocks that scored high for Environmental, Social and Governance (ESG) factors held up amid the Covid-19 fallout?
China takes aim at trash
A massive nationwide effort is underway to improve China's waste management systems.
Chart Room: Some sectors may be set for a margin squeeze
The latest reading from our monthly analyst survey shows which companies are struggling with inflationary pressure but also weaker pricing power.
Chart Room: Correlations boil and bubble 🎃 and may spell toil and trouble 🦇
In this follow-up special Halloween edition of Chart Room, we look at how correlations are casting a spell over markets.
Chart Room: Government debt climbs to spooky heights
In this special Halloween edition Chart Room (part 1 of 2), we look at the frightening levels of government debt around the world.
Chart Room: Why growth still has room to grow in China equities
The valuation premium for China growth stocks versus value stocks hit a new all-time high, lifted by the consumer, tech and healthcare sectors.
Chart Room: Is disinflation lurking around the corner?
In a bullish signal, the bond market’s short-term expectations for US inflation are back near pre-crisis levels. But are investors being overly optimistic?
Chart Room: Why some tech valuations may be lower than you think
A closer look at longer-term valuations reveals some surprising trends in tech.
Chart Room: Emerging market currencies lag on inflation risks
EM countries are using some of the same monetary and fiscal measures as developed markets. But this could add to rising inflation and currency weakness.
Chart Room: China’s Covid rebound puts the ‘V’ in investment
Fixed asset investment (FAI) in China has recovered to its pre-Covid levels of growth, with infrastructure and property driving the nation’s broader economy.
Chart Room: The resilience of China’s onshore stocks
China’s onshore stocks (A-shares) have outperformed their Hong Kong and overseas listed counterparts, but their valuations are relatively undemanding.
Why India could be the next breeding ground for tech unicorns
The Silicon Valley giants are shifting their attention to India as the next big growth market.
Chart Room: A new record high for US stocks, but mind the lopsided valuations
The average European bank capital ratio has never been stronger. This has led to a stark contrast in returns across bank capital structures.
Chart Room: US debt delinquencies drop, but recession looms as unemployment surges
Household debt forbearance measures have given a temporary boost to borrowers in the US. But as unemployment surges, more supportive measures will be needed.
Chart Room: European banks’ CoCo bonds soar while equities slump
The average European bank capital ratio has never been stronger. This has led to a stark contrast in returns across bank capital structures.
A heavy outlook for the US Dollar
The relentless spread of Covid-19 across the US and improving risk sentiment elsewhere is crimping demand for the safe-haven reserve currency.
With nowhere to go, Chinese tourists spend closer to home
Most travel destinations remain off-limits, and as Chinese people’s savings have increased, so has their pent-up demand and desire to treat themselves.
Chart Room: Why China government bonds have underperformed other markets
China government bond yields are diverging from other major government bond markets.
Chart Room: Chinese consumers’ growing preference for local brands
The Covid-19 experience is spurring changes in behavior among Chinese consumers. Among these is a growing preference for domestic brands over foreign ones.
Chart Room: Asian equities diverge, creating opportunities
The difference in performance between equity markets in East Asia and South Asia (India, ASEAN nations) is the largest in nearly 15 years.
US-China trade war: The chips are down for tech supply chains
The latest front in the US-China trade war centers on tighter sanctions on the Chinese tech giant Huawei.
Chart room: Despite a recent rally, high yield bonds still look cheap
For US high yield, valuations look historically cheap on a relative basis - especially when compared to equities.
Chart room: Another false dawn for value stocks?
Over the past decade, previous periods of value outperformance have been short-lived. Will this time be different?
Japanification in 12 charts
Many western economies are mirroring Japan’s experience over the past 30 years.These 12 charts show how some of the key trends are playing out.
Chart Room: QE expectations vs. reality, market moves
Market expectations of future asset purchases by the Fed have an even greater influence than the purchases themselves.
Central banks in emerging markets hop on the bond-buying bandwagon
EM central bankers are taking a page from the developed-market playbook and purchasing local bonds as a way to cushion the blow
Chart Room: Mobility data shows most economies are rebounding slowly
Economic activity is being determined by virus response rather than slower-moving traditional industrial cycles. We need to adjust our toolkits accordingly.
Chart Room: Beware the narrowing market
Equity market performance is now at its narrowest since the 2008 Financial Crisis, with the rally riding on a dwindling number of large-cap growth stocks.
Chart Room: Mind the valuations
After recent rebounds in stocks and bonds, we take a quick look at valuations and how they stack up against history.
How India’s economy is navigating Covid-19
As the world begins to come out of lockdowns and economies normalise, India can offer bright spots for emerging market investors.
Chart Room: What in the world is going on with gold?
The correlation between gold and equities has increased to an 18-month high, calling into question the metal’s usual benefit as a porfolio diversifier.
Oil tankers gush profits as global storage space overflows
Oil tankers are earning windfall profits - but how long can this situation last?
Chart Room: More policy easing supports China bonds
This week’s Chart Room shows how ample liquidity is helping China’s onshore bond markets navigate around global volatility.
Chart room: Beauty of big tech stocks is in the eye of the beholder
Our latest Chart Room takes a comparative look at the long run up in the Nasdaq 100 index.
Chart Room: Fidelity analysts expect longer disruptions from Covid-19
Chart Room: Fidelity analysts expect longer disruptions from Covid-19
Chart room: Japanification and the rise of the widow maker trade
Chart room: Japanification and the rise of the widow maker trade
Delayed demand making its return to China’s property market
New home sales are recovering faster than expected in China. This has big implications for domestic demand and the macroeconomic outlook.
Chart room: Governments open their fiscal taps
Doing "whatever it takes".
Chart room: The dash for dollars
Currency basis swap rates reflect dollar liquidity squeeze.
China and its neighbours reboot supply chains
As China’s economy emerges from lockdown, activity across Asia’s sprawling network of factories, ports and logistics hubs is picking up.
As gold’s surge draws wider interest, miners shine too
Gold's lustre is also rubbing off on the companies that dig it up from the ground.
Analyst Survey 2020: Sector by sector
Key findings from the 10 different sectors covered by the survey.
Hunting for yield in frontier markets: Egypt
When smaller frontier markets mature into benchmark names, early investors can earn attractive returns in these relatively niche, often overlooked places.
China tiptoes down easing street with rate reform
While the Fed and ECB are signaling more rate cuts and quantitative easing to come, China’s central bank has been taking a more cautious approach.
In 14 charts: China's unprecedented growth
China's unprecedented economic change in manufacturing and services has seen the country leapfrog its rivals in areas such as transport and mobile payments.
Is seven an unlucky number for China’s currency?
China’s renminbi weakened past the seven per US dollar mark for the first time in more than ten years.
Should investors hedge against big market moves now?
With all the uncertainty about the global economic outlook, investors ask whether it's time to add protection against volatility to their portfolios.
China’s stimulus is working, but credit markets hold longer-term risks
The credit stimulus measures that China began last summer are starting to reach a critical mass, but transmission to the real economy remains patchy.
A Goldilocks moment for China’s monetary policy, but watch for more easing and bond index inclusion
Two events are driving the outlook for China fixed income- easing monetary conditions and the expected inclusion of Chinese bonds in benchmark indexes.
Region by region: Analyst Survey 2019
Looking at the Analyst Survey by region shows some striking common themes emerge, particularly around declining confidence and ebbing bullishness.
In nine charts: the world in 2029
The next decade provides new opportunities for travel and tech businesses, but also challenges in the form of increased risks to the environment.
China's easing has not been easy
China’s deleveraging drive has softened, but credit to private companies remains weak. Bigger banks could be pushed to step in.
The rise of active ETFs
The market for actively managed exchange traded funds (ETFs) is growing rapidly globally, and especially in Australia where pension contributions are rising.
Causes and remedies for the funding gaps in DB schemes
DB pension plans were created decades ago, when people were projected to live into their early 70s and the world had strong economic growth and high rates.
How to protect against black swans - if we can at all
Investors can be better prepared for changes in market dynamics and high-impact, tail risk events.
Credit markets react to China's new easing measures
China’s emphasis on deleveraging has softened in recent months, but credit flow to the economy has remained weak.
China’s upgrades to Bond Connect should broaden foreign participation
China's Bond Connect allows foreign investors to access the interbank bond market more easily. New upgrades should remove remaining barriers to adoption.
China's RMB bond market is headed for substantial growth
Fidelity has analysed and forecast the growth for China's onshore RMB bond market - which is substantial. What does this mean for investors?
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