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Chart Room: Earnings, not valuations, will carry China’s rebounding markets forward
Improving corporate earnings are likely to take over from cheap valuations as the main driver in the next stage of the Chinese stock market's rebound.
Rich Pickings podcast: The real workhorse of Asia Pacific
"Emerging growth versus value orientation and corporate governance changes makes for a really attractive region," says portfolio manager Dale Nicholls.
The Investor's Guide to China podcast: Trade and growth
"Despite geopolitical friction capital flows to China look set not just to persist but to accelerate," says CIO for Asia Pacific, Paras Anand.
March's Rich Pickings podcast: The Testing of The Fed and other tales of central bank credibility
"Maintaining the debt is an important part of central banks' objectives even if they don't openly talk about it," says head of global macro Salman Ahmed.
Rich Pickings: The Analyst Survey episode
The results are in for Fidelity's annual Analyst Survey. We pick apart the key findings to discover what our sector experts expect for the year ahead.
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.
January's Rich Pickings podcast: The big vaccine rollout episode
"China's rebound is like watching a movie," says Portfolio Manager Amit Lodha in January's Rich Pickings.
Chart Room: After the Gold Rush
Is it time to take profits in gold?
Chart Room: A liquidity tide for the record books
2020 brought us new high-water marks in the US for both money supply growth and the personal savings rate.
Rich Pickings podcast: (What) A Year in Review
For the final episode of the year Fidelity's Global Chief Investment Officer discusses the market history that was made and the lessons to take from 2020.
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.
Reflationary thesis strengthens as Democrats win slim Senate majority
Reflationary thesis strengthens as Democrats win slim Senate majority
Chart Room: China government bond yields catch their breath
Chart Room: China government bond yields catch their breath
Chart Room: Weakening dollar gives emerging markets a shot in the arm
Emerging markets may be helped further along by the weaker outlook for the US dollar.
Building solid foundations: Fidelity International China Stewardship Report 2020
Fidelity International's inaugural China Stewardship Report shows steady progress in investment stewardship and implementing ESG at domestic A-share companies.
November's Rich Pickings: Outlook 2021
Fidelity's chief investment officers discuss the paths they're taking in the year ahead.
European high yield: The curious case of the defaults that didn’t happen
At the height of the March crash, defaults looked set to soar. The reality turned out to be very different.
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.
US elections podcast: The very different fiscal scenarios
Fidelity's Global Head of Macro Salman Ahmed on why the US is on the verge of an economic paradigm shift.
Fidelity Analyst Survey: Sentiment improves again but could be nearing plateau
October’s survey of Fidelity International’s analysts reveals that sentiment and leading indicators are once again incrementally better than last month.
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.
Mapping US election tail risks: a framework-based approach
Mapping US election tail risks: a framework-based approach
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.
October's CIO podcast: Strength in numbers
Fidelity International's Chief Investment Officer Andrew McCaffery gives his latest analysis of markets and what it means for investors.
Chart room: European cyclicals vulnerable if manufacturing data moderates
Any moderation in the growth of new manufacturing orders could make cyclicals vulnerable to a de-rating.
The inflation puzzle and how to tackle it
Will inflation return despite dis-inflationary forces?
Swinging 60s inflation pattern due a comeback
The years between 1964-75, a time of fiscal expansion and low rates, shows why inflation might come back faster than some think.
September's Rich Pickings podcast: Allocating for recovery
"The market is underestimating inflation. Reduce duration and look for income," says Chief Investment Officer Steve Ellis, in this month's Rich Pickings.
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?
Podcast: The future of... banking
"Banks are increasingly fulfilling a social role," says cross-asset analyst Federico Wynne.
Analyst Survey podcast: The world catches up with China
Listen to the latest Analyst Survey podcast to hear what Fidelity's almost 150 analysts saying about the state of the corporate world.
ESGenius: Getting ‘hydrogen ready’
Hydrogen demand could increase seven-fold by 2050.
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.
Analyst Pulse Survey: Companies are restructuring, but are they resilient?
Certain sectors will need to do more to be resilient in the face of diminishing government support and possible infection rate rises.
ESGenius: Getting to net zero in real estate
ESGenius: Getting to net zero in real estate
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.
CIO update podcast: How to spot resilience
CIO Andrew McCaffery on market sentiment, Fed commitments, and what we mean by resilience.
A to-do list for Japan’s next prime minister
Ensuring fiscal and monetary policy continuity while overseeing Japan's response to the Covid-19 crisis will be top priorities for Shinzo Abe's successor.
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.
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.
The connectivity revolution is only just beginning
Most investment opportunities from unprecedented connectivity lie in the future.
Overweight autos: The road less travelled
Despite the risks, we believe that the auto sector now presents an investment opportunity.
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.
The Investor's Guide to China podcast: Consumers
"Premiumisation and technology-driven innovative business models are two areas where growth potential is underestimated," says Portfolio Manager Hyomi Jie.
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.
July's Rich Pickings podcast: Beware the consensus - what the US election means for investors
"There are more similarities between Trump and Biden than people realise," says Portfolio Manager Aditya Khowala in this month's Rich Pickings.
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.
Crisis accelerates trends in European real estate
The implications of the Covid-19 pandemic for European real estate investors
Landmark EU deal may lead to better economic outcomes
EU Recovery Fund marks new chapter for Union.
Chart Room: Why China government bonds have underperformed other markets
China government bond yields are diverging from other major government bond markets.
ESGenius: Due diligence on Wirecard revealed that the sums didn’t add up
For investors focused on sustainability and governance, the warning signs of financial misreporting were there for some time.
The future of energy podcast: the 1.5 trillion dollar question
"I do think that [the pandemic], for the power industry, is going to make it have a more green generation mix," says analyst Christine Miyagishima.
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.
June's Rich Pickings podcast: Know your enemy
"The anaesthetist has shown up to give morphine [to the global economy] but the doctor's still not shown up to do surgery," says Portfolio Manager Amit Lodha.
Finding genuinely defensive ways to diversify portfolios
What constitutes a defensive asset in the time of Covid-19?
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.
European retail recovers, but luxury needs big spenders
It is still unclear time how much of this recovery is just pent-up demand that will subside and how much of it is sustainable as furlough support fades.
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.
Fidelity International Pulse Survey: 10 months of disruption remain
Fidelity International’s June survey of 149 analysts finds that activity in most sectors and regions is expected to return to a stable level in under a year.
Podcast: The future of... connectivity
"After this, I don't think any law-maker will disagree that telecom connectivity is as important as any other utility," says portfolio manager Sumant Wahi.
Dislocation, dislocation, dislocation: Opportunities in UK real estate
Opportunities in UK real estate amid Covid-19
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?
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.
Public equity markets are flagging when we need them the most
Revived public equity markets will be needed to recapitalise additional debt burdens resulting from the Covid-19 crisis response.
Fidelity CIO: Thinking differently about diversification
Portfolios may need to encompass a broader range of assets than in the past.
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
The Investor's Guide to China podcast: Technology and innovation
"Artificial intelligence and specifically deep learning is where China is going to be the leader," says Senior Technology Analyst Johnny Tseng.
Defying gravity: How long can monetary-driven markets ignore economic reality?
How long can central bank stimulus enable markets to defy gravity from Covid-19 reality?
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.
May's Rich Pickings podcast: The case against inflation
Why inflation will be some way off - and how portfolios are being adjusted as the old rules are torn up.
Podcast: The future of... retail and real estate: liquidity, liquidity, liquidity
As the pandemic changes consumer behaviour - perhaps permanently - we look at what the future of retail and its associated real estate could look like.
Fidelity CIOs: Spotlight on solvency
Balance sheets come under scrutiny.
The New Economic Order
We believe the Covid-19 crisis will trigger a step-change in policy, accelerate existing trends and transform investment frameworks.
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.
April's Rich Pickings podcast: Where we go from here
"I am quite surprised by the optimism of markets," says portfolio manager Jeremy Podger in this month's Rich Pickings.
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.
Fidelity CIOs: Dispersion increases as demand effects filter through
Investors become more selective as demand shock hits oil price and other sectors.
Survival and sustainability
Research into ESG factors and the Feb-March bear market
Outrunning a crisis: Sustainability and market outperformance
Outrunning a crisis: Sustainability and market performance
Downgrade risks when zombies become fallen angels
The high yield bond market prepares for an influx of downgraded investment grade debt.
Crisis drives shift in public/private relationship not seen since WWII
State aid for companies is likely to come with conditions attached.
EU’s €1 trillion Green Deal could aid post-crisis recovery
The EU's Green Deal faces political and financial challenges, but the direction of travel is clear.
Podcast: Positioning for a post-pandemic world
"We're going to be in an environment with a much more purpose-driven corporate sector," says Chief Investment Officer for Asia Pacific Paras Anand.
Fidelity CIO Podcast: Finding value and income
Opportunities for value and income as volatility lessens.
Strong underpinnings to Asia’s investment grade bond market
Asia’s investment grade bond market looks attractive as we continue working through the Covid-19 outbreak, and global coordinated stimulus take effect.
What recent market moves imply about the US economic outlook
We take a look at 20 years of data to estimate the hit to the US economy being priced in by equity and credit markets.
Finding opportunities in fixed income markets
Dislocations in credit valuations present an opportunity for active managers to add exposure selectively in specific areas.
Inflation expectations close to nadir
Low Inflation expectations mean breakevens nolw look attractively priced
Chart room: The dash for dollars
Currency basis swap rates reflect dollar liquidity squeeze.
Market distortions could provide opportunities for long-term investors
Market volatility is throwing up opportunities for long-term investors in companies and sectors which are expected to survive the current crisis.
Fidelity CIOs: Dollar devaluation could be the end game from Fed actions
Fiscal and monetary stimulus could weaken the dollar and be inflationary.
European IG: With volatility comes opportunity, but discipline is key
Recent price dislocations means the long run return potential of European investment grade bonds is positive, but prepare for continued volatility
Outbreak deepens China’s e-commerce push
While the coronavirus threatens to put a dent in China’s overall growth, pockets of the online economy are booming.
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