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11 December 2025

The Fed’s latest rate cut was widely expected and pleased markets. But with inflation running a full 1% above target and policymaker dissent growing ahead of Chair Powell’s departure, fiscal strains and stubborn long-term rates are clouding the outlook.

11 December 2025

Investment Director Jian Shi Cortesi highlights China’s 2025 equity rebound, fuelled by low valuations and policy support. Innovation, technology and structural growth themes create compelling opportunities despite tariff headlines and shifting investor sentiment, according to Jian.

01 December 2025

The US central bank is facing growing political pressure amid speculation over Chair Powell’s successor. With faster rate cuts potentially on the table, markets have been basking in the dovish glow. But, in time, consumers may thank those policymakers who tried to keep smouldering inflationary fires under control.

December 2025

Asia/China Growth Equity: "Domestic policy settings have had a far greater impact for Asian equity performance than external factors like tariffs."

December 2025

European Equity: “One of the joys and drawbacks of investing in Europe is that it consists of over 40 different countries.”

December 2025

Emerging Market Debt: "In a world of diminished DM returns and rising fiscal fragility, EM debt is reasserting itself as a strategic allocation."

December 2025

Commodities: “Unless we see a global recession, the demand for commodities should find some resilience out of strong EM demand.”

December 2025

Emerging Market Equities: “2025 marked the beginning of EM’s resurgence – but it was just the start.”

December 2025

Sustainable Climate Bonds: "Green does not have to equal lower return."

December 2025

Credit Opportunities: “We see the European financial sector as one of the best opportunities within credit markets in 2026.”

December 2025

Event-Driven Strategies: “How to make money in a bear market? It might not be the question investors are asking, but it is the one they should be.”

December 2025

Sustainability: "Sustainability is evolving from over-engineered targets and unrealistic commitment into a discipline focused on real progress, risks management and alpha generation."

December 2025

Swiss Equity: “A rise in manufacturing purchasing manager indices could particularly benefit the Swiss small- and mid-cap segment.”

December 2025

Multi-Asset Solutions: “We remain firm believers in the case for structural engagement in equities over time.”

December 2025

Private Shares: “Liquidity began to re-emerge in 2025, with several meaningful exits and secondary transactions.”

December 2025

Securitised Income: “We are seeing the effects on weaker borrowers, and little to no impact on sectors such as residential mortgages.”

December 2025

Catastrophe Bonds: “Over nearly three decades, the cat bond market has demonstrated consistent performance through varying rate and loss environments.”

03 December 2025

It’s that time of year when the inescapable passage of time sees the transition from one calendar year to the next, and with it the inevitable demand for the entire investment industry to view the world in new ways.

28 November 2025

The UK Budget has finally passed with predictable grimness. It is unlikely to solve Britain’s multi-decade stagnation. UK-based investors can, however, capitalise on decline.

25 November 2025

The US stockmarket is starting to show signs of fatigue with Artificial Intelligence (AI). But the underpinnings of this revolution remain fundamentally sound. Investors’ main focus should be long-term equity returns and effective diversification.

21 November 2025

China continues to demonstrate robust economic growth, despite global uncertainty. Ygal Sebban, Investment Director, Emerging Markets Equities, highlights the country’s resilience and its potential to benefit significantly from advancements in artificial intelligence (AI) and technology.

17 November 2025

The UK Autumn Budget looms on Wednesday 26 November amid policy U-turns and a backlash over rumoured manifesto-breaking tax hikes. With fiscal pain now unavoidable, bond and FX markets are signalling broader unease, mirroring the challenges facing many free-spending, heavily indebted Western economies.

10 November 2025

As rate cycles diverge, Atlanticomnium Fund Manager Grégoire Mivelaz sees Europe’s policy stability, alongside the strength of its banks, drawing renewed investor interest.

07 November 2025

The world has a healthcare cost problem - biosimilars and generics are part of the solution.

03 November 2025

Tech megacaps are locked in an AI capex arms race. Despite AI productivity gains in several sectors confirming its lasting value, with many tech stocks trading at nosebleed earnings multiples, talk of AI bubbles just won’t go away. Effective diversification of multi-asset portfolios should enable investors to maintain exposure to AI innovation, all the while helping to smooth out the inevitable market corrections.

December 2025 | Arcus

Japan (Long/Short) Equity: “Our strategy is built around disciplined recycling of capital from successful investments into new undervalued opportunities.”

28 October 2025

LLMs (large language models) - which are enhanced pattern-recognition tools - do some wonderful things. We use Quartr as the AI-powered backbone of our stock research process.

23 October 2025

Aerospace & defence giants Airbus, Leonardo and Thales combine their space businesses.

23 October 2025

Huge amounts are being committed to investments in artificial intelligence. Josh Sambrook-Smith, Investment Manager, Global Equities, discusses what this could mean for various parts of the AI ecosystem and where he and the team are seeing opportunities to take advantage.

20 October 2025

Tariffs, political pressure on the Fed and policy-driven labour shortages threaten to drive above-target US inflation even higher. For investors, real assets like gold can feel like inflation ‘safe havens’. But a more effective hedge could be hidden in plain sight.

17 October 2025

Recent pressure on the Fed threatens a longstanding central banking consensus. The logic behind this pressure is flawed given the role and nature of long-term rates. The risk is inflation, but portfolios may already be better protected than many think.

10 October 2025

We have generally been cautious on consumer exposure as many companies prioritised short-term profitability over brand positioning during the last five years.

07 October 2025

Yet another US government shutdown really should be bad for growth. But with short-term rates pricing in multiple Fed cuts, the 'bad news = good news' narrative lives on, but for how long? With results from financials and IT behemoths looming, investors want reassurance that hefty AI spend is on track to deliver returns.

06 October 2025

Julian Howard, GAM’s Chief Multi-Asset Investment Strategist, outlines his latest multi-asset views, exploring how US equity markets went on a tear in the third quarter, despite elevated uncertainty and signs of slowdown in the US economy. For investors, predicting the next correction will be challenging but ensuring portfolio diversification less so.

30 September 2025

Chinese stocks have far outpaced gains in global equities lately. Resilience in exports in the face of US tariffs and rate cuts may not tell the whole story. But a domestic cultural savings shift into stocks might.

23 September 2025

Steepening yield curves could spell trouble ahead for deficit-addled economies, potentially sooner rather than later. Big-spending governments would do well to heed the warning of soaring long-end yields. For investors, avoiding this value trap in favour of more effective diversifiers could be key, argues Julian Howard.

15 September 2025

With the US labour market softening, a cut of 25 bps looks in the bag this week, but pressure is mounting for more, even with inflation holding far above target.

09 September 2025

As investors increasingly seek to diversify away from the US, demand for European credit is surging. Grégoire Mivelaz, Fund Manager at Atlanticomnium, who co-manages GAM’s Credit Opportunities strategies, emphasises the importance of active management, deep experience and disciplined positioning in subordinated debt investing.

02 September 2025

With a summer sizzle, stock markets have defied the usual seasonal doldrums, with the S&P setting record highs amid rate cut hopes. But with the Fed's independence under pressure, could inflation risks and consumer jitters bring a pre-winter chill for markets?

01 September 2025

As geopolitical tensions underscore energy security and the relentless rise of AI drives soaring electricity demand, nations face a pivotal moment to rise to the challenges. GAM’s European Equities team – Tom O’Hara, Jamie Ross and David Barker - believe this presents unprecedented investment opportunities in areas such as power infrastructure.

26 August 2025

Randel (Randy) Freeman, Co-Head of GAM Alternatives, explores why Korea may be the most interesting market in the world right now for event-driven and deep value investors, and why he believes it could follow a similar path to Japan’s transformation a decade ago.

18 August 2025

Emerging markets, once seen as volatile, are now demonstrating strong fundamentals and macro discipline—offering not just diversification, but real opportunity, says Ygal Sebban, Investment Director, Emerging Markets Equities.

12 August 2025

Despite everything thrown at them so far in 2025, equities have quickly recovered from setbacks. Beyond the US economic and corporate earnings picture, a new wave of forum-driven and gamified app investors may be fuelling this resilience. But how would these relative newbies react in any real market crisis?

11 August 2025

Europe’s consumer slowdown is deepening as pricing fatigue spreads across sectors once deemed resilient, says GAM Investments’ European Equities team.

05 August 2025

The S&P 500 scraped through last week with mixed results. Although the broader market was down by -2.4%, driven in large part by more tariff melodrama and disappointing jobs figures (for which the Commissioner of the Bureau of Labor Statistics ironically lost her job), the Technology sector broadly delivered versus expectations during a crucial week of earnings announcements.

31 July 2025

Kevin Moss, President and Portfolio Manager at Liberty Street Advisors (LSA), Inc., sees private equity, and specifically late-stage venture capital, as a high-potential opportunity for investors seeking long-term growth, especially in a market where companies are staying private longer and scaling rapidly before reaching public markets.

29 July 2025

Global equity returns for GBP investors have been lagging their international counterparts. A rare period of USD weakness, rather than GBP strength, is the culprit. How long will it last, and how should GBP investors structure their portfolios?

22 July 2025

President Trump’s short-lived threat to oust Chair Jerome Powell briefly roiled markets. Despite the Big, Beautiful Bill and sticky inflation, markets are already pricing in multiple rate cuts, even with no change to the Fed hot seat. And the bond markets vigilantes will be watching, whether Jay walks or not.

16 July 2025

Hosted by Steven Williams, Head of UK Distribution, this webinar features Paul Markham, Investment Director and Head of Global Equities at GAM Investments, as he explores how shifting global dynamics are reshaping equity markets, and how investors can adapt.

25 June 2025

Amid the noise and chaos of tariffs and conflict in the Middle East, it is easy to forget about the humble Federal Reserve (Fed) whose job is to ‘just’ set the benchmark interest rate, which helps to price all assets.

24 June 2025

Emerging market equities offer compelling opportunities, but demand selectivity. Investment Director Ygal Sebban highlights targeted areas of strength, driven by structural trends, policy support and valuation appeal.

23 June 2025

Europe’s aerospace sector reaffirmed its global dominance at the 2025 Paris Airshow. Bolstered by strengthened supply chains, growing aftermarket demand and rising defence budgets amid geopolitical uncertainties, GAM's European Equity team believe the aerospace sector could be a high-flying opportunity for investors seeking attractive long-term growth.

16 June 2025

Israel’s strike on Iran sparked a predictable immediate reaction, with oil rising and equities falling. But, in a microcosm of the post-Liberation Day market moves, stocks soon recovered. While the US economy appears sound and retail investors relaxed, gold is telling us a very different story, underlining the value of effective diversification.

17 June 2025

Global long-dated bond yields have jumped in recent weeks. This increases the cost of capital for economies and corporations. The main culprit is the US spending bill. Can it be reined in?

12 June 2025

Germany’s new government, a reluctant coalition between the Christian Democratic Union of Germany (CDU)/Christian Social Union in Bavaria (CSU) and the Social Democratic Party of Germany (SPD), represents the fourth time they have teamed up in coalition since the 1990s.

11 June 2025

Changes in US trade policy may have pressured luxury brand equities, but Flavio Cereda, Investment Director of the Luxury Brands strategy, sees performance emerging more selectively and expects any slowdown to be milder than feared.

04 June 2025

With President Trump’s tax bill set to add trillions to US government debt and potentially fuel inflation, a bond buyers’ strike could test the ‘TACO’ theory ahead of the 4 July Senate vote.

04 June 2025

How a fund helps you: Should you always own AT1s, which AT1s do you select and diversification

21 May 2025

With US inflation lingering above target, tariff uncertainty persisting and major retailers warning of looming price hikes, the risk of consumer belt-tightening is real. As uncertainties abound, the case for effective diversification in multi-asset portfolios grows ever stronger.

16 May 2025

The US stock market’s recovery from Liberation Day appears complete. But are investors really out of the woods as markets seem to suggest? Perhaps the real lesson lies in the emotional response to the entire episode.

07 May 2025

Markets bounce back from their excessive early-April despair on optimism that growing pragmatism can resolve the Trump tariff tangle and signs that US corporates can still prosper in the new era.

07 May 2025

Christian Munafo, Chief Investment Officer at Liberty Street Advisors, explores how private companies are responding to market volatility and why this might attract investor interest.

30 April 2025

Following a sell-off that began in mid-February, stock markets’ recent bounce reflects some hopes that, despite the President’s bluster, some pragmatism may be setting in as policymakers and companies react to the uncertainty.

30 April 2025

‘Liberation Day’ and its aftermath have left investors shaken and bruised. Recognising that in the short term markets trade on sentiment is vital. During the present uncertainty, investors could do well to remember that equity buy-and-hold - with effective diversification - remains a well-proven approach.

24 April 2025

Paul Markham, Investment Director, Global Equities, talks to GAM’s Head of UK Distribution Steven Williams on how he defines disruption and the fact it can have an impact across all sectors and industries, with technology an enabler of that disruption rather than necessarily being the business of the companies in which he invests.

23 April 2025

Equities’ post-Easter rally partly reflects moderating rhetoric from the US administration. But with tariff policy up in the air and hopes of a U-turn looking optimistic, investors should keep their discipline to help achieve long-term goals.

17 April 2025

Steven Williams, Head of UK Distribution, talks to Paul Markham, Investment Director, Global Equities, about the themes driving global equity markets, the benefit of experience and the importance of maintaining longer-term conviction ahead of ‘tinkering’.

15 April 2025

Trumpenomics 2.0 is off to a bumpy start for US consumers, with inflation concerns, fears of layoffs and the stock market downturn impacting on both Wall Street and Main Street.

15 April 2025

Powered by innovation from massive R&D spending, China’s technology-focused corporate leaders are pushing ahead of their Western peers, acting out the “Made in China 2025” roadmap before our eyes, says Jian Shi Cortesi, Investment Director, Asia/China Growth Equities. From advances in artificial intelligence (AI) to electric vehicles (EVs) and beyond, these innovations represent a global power shift, presenting what Jian sees as opportunities for investors.

14 April 2025

Simona Rubino from GAM's Responsible Investment team shares her views on key themes for 2025 Proxy Season and provides a review of GAM's approach to proxy voting during 2024.

08 April 2025

Tom Mansley, Investment Director, Asset Backed Fixed Income at GAM Investments, discusses the resilience of mortgage-backed securities (MBS) in the current challenging macroeconomic and political environment.

04 April 2025

Julian Howard, GAM’s Chief Multi-Asset Investment Strategist, outlines his latest multi-asset views, exploring how high hopes for a strong start to America’s new golden age have been dashed amid a chaotic and unpredictable start to the new Trump administration. Attention is turning to other stock markets but American dominance can’t easily be replaced.

27 March 2025

Europe-bashing has become fashionable for commentators in the last few years, but the economy may be showing signs of potential amid the Trump onslaught. Preconceptions about Europe’s stock market could also be changing.

20 March 2025

Steven Williams, Head of UK Distribution at GAM Investments, discusses opportunities in private markets with Kevin Moss, Managing Director at Liberty Street Advisors. They cover a broad range of topics including Kevin’s career, his most and least successful investments, avoiding ‘binary’ sectors and how he and the team source deals.

19 March 2025

President Trump’s ‘shock and awe’ policy approach has created uncertainties for consumers and businesses, in the short term at least, as well leaving the Fed with tricky decisions ahead.

12 March 2025

Steven Williams, Head of UK Distribution, talks to Jian Shi Cortesi, Investment Director, Asia/China Growth Equities, on the opportunities she sees in Chinese companies, which segments of the market she thinks could benefit from Chinese government policy and the potential of artificial intelligence (AI), and how simplicity in investing can be effective.

11 March 2025

Despite selloff amid President Trump’s ‘shock and awe’ policy approach, sound US economic and market fundamentals should provide a valuations floor – eventually.

05 March 2025

With the majority of European banks having reported Q4 earnings, Romain Miginiac, Fund Manager and Head of Research at Atlanticomnium, reflects on the implications for bondholders.

27 February 2025

But with the AI chipmaker’s results leaving investors wanting even more, the case for diversification grows stronger.

27 February 2025

The US stock rally and an unnerving start to Trump 2.0 mean it’s time to talk about diversification. Traditional diversifiers - government bonds - may not be the answer this time though. But an array of alternatives is available to investors, some hidden in plain sight.

18 February 2025

GAM Investments’ Jian Shi Cortesi, Investment Director, Asia/China Growth Equities, discusses the likely impact of a US trade war on China’s exports and equity market.

13 February 2025

Sticky inflation could put Fed Chair Powell on collision course with President Trump, testing Fed’s independence.

05 February 2025

But beyond the Lunar New Year spending flurry there’s still little reason to be ‘over the moon’ about China’s economic outlook.

30 January 2025

Amid a spate of potentially inflationary Trump policies, Fed resists pressure to cut rates, drops reference to inflation steadily coming down.

30 January 2025

US equity returns have been disproportionate by long run standards. Economic fundamentals remain sound but market valuations are stretched. And, for investors, the start of the new Trump administration will matter – to a point.

24 January 2025

GAM Investments’ Paul Markham analyses the factors behind the increased Americanisation of world equity indices. Paul also assesses how investors can best capture global stock market opportunities in an era of increased US megacap dominance.

15 January 2025

Less than a week before Donald Trump’s inauguration, today’s data showed annual inflation rising for the third consecutive month in December.

10 January 2025

Surging gilt yields heap pressure on Chancellor Rachel Reeves, raising the prospect of further tax rises or spending cuts.

07 January 2025

Julian Howard, GAM’s Chief Multi-Asset Investment Strategist, outlines his latest multi-asset views, exploring how we are in the midst of a new American era, defined by a strong economy privileged by its relative isolation and a stock market uniquely placed to benefit. Investors will, however, need to be aware of risks around inflation and over-valuation.

18 December 2024

But with inflation and the jobs market resilient, Fed points to 50 bps of cuts for 2025, compared to 100 bps flagged in Q3.

13 December 2024

The eurozone’s fourth cut of 2024 comes against the backdrop of a potential ‘Perfect Storm’ of political instability and economic woes.

27 November 2024

Latest price data make uncomfortable reading for the Fed in view of bold recent rate cuts and President-elect Trump’s stated policies.

20 November 2024

Above-target 2.3% largely attributed to move in energy price cap, although further “one-offs” could be awkward for policymakers’ easing narrative.

20 November 2024

Atlanticomnium’s Romain Miginiac discusses the strong fundamentals of European banks and his latest perspective on the pricing of extension risk.

13 November 2024

Headline inflation rises for the first time in seven months, lifted by housing costs, while core inflation holds well above Fed’s official target.

13 November 2024

Flavio Cereda, Investment Manager, Luxury Equities, discusses the market segmentation of the luxury sector and explains why he prioritises growth over value.

12 November 2024

China’s stock markets have surged since September’s stimulus announcement. Valuations, combined with more optimism, could yet support the rally. But the lack of bold reforms thus far suggests that waiting before significantly committing could be the best approach for investors.

07 November 2024

GAM Investments’ Japan Equities team discusses the opportunities artificial intelligence (AI) brings to the Japanese technology sector, citing Disco as a prime example.

06 November 2024

Emotion apart, markets are all about business; it is important to separate the short-term reaction from the longer-term implications.

05 November 2024

Investment grade credit spreads have been in a sweet spot of late, despite volatility in underlying government bond markets. Gregoire Mivelaz of Atlanticomnium shares five reasons why he is enthused over the outlook for actively managed credit portfolios.

31 October 2024

Ygal Sebban, Investment Director of Emerging Market Equity, explores the opportunities in emerging markets and explains why he believes investing in Chinese equities looks particularly appealing right now.

30 October 2024

The first Budget from a Labour-led government since the late Alistair Darling’s in March 2010.

22 October 2024

Flavio Cereda, Investment Manager, Luxury Equities at GAM Investments, shares his latest insights on the luxury sector, following a 10-day visit to two major cities in China.

16 October 2024

Headline figure below 2% target and softer-than-expected core inflation could pave the way to decisive post-Budget interest rate cuts.

09 October 2024

Julian Howard, GAM’s Chief Multi-Asset Investment Strategist, outlines his latest multi-asset views, exploring how elevated market volatility, speculation around interest rates and geopolitical uncertainty are failing to reflect benign conditions in the world’s largest economy

04 October 2024

Strong jobs figures raise some questions over the likely path of US interest rates following the Fed’s outsized September cut.

3 October 2024

The race to protect our planet’s biodiversity is just as critical as the fight against climate change, presenting both risks and opportunities for investors. With over half of global GDP reliant on nature, the implications are profound.

02 October 2024

Markets and commentators are excessively pessimistic on the US economy. But the economy has avoided recession and shrugged off high interest rates - this has implications for US stocks and the Federal Reserve’s policy pathway.

27 September 2024

Our Hyper Active series explores how GAM Investments’ portfolio managers – across both equities and fixed income - aim to harness the potential of active management to deliver better results for clients.

25 September 2024

The stars are aligning for Japanese companies from a global and domestic macroeconomic perspective. Ernst Glanzmann and Lukas Knüppel, Investment Directors, and Katsuya Takeuchi, Investment Analyst, Japan Equities, note that at the same time the market and many investors have not fully recognised the shift in earnings momentum towards quality growth companies that is occurring.

20 September 2024

Our Hyper Active series explores how GAM Investments’ portfolio managers – across both equities and fixed income - aim to harness the potential of active management to deliver better results for clients.

19 September 2024

Fed cuts rates for first time since March 2020, says “risks to employment and inflation goals roughly in balance.”

19 September 2024

The past months have delivered a sharp U-turn in market rate expectations. Ralph Gasser, Head of Fixed Income Investment Specialists, shares his views on recent developments and explores these shifts and their implications on investment opportunities across fixed income markets.

11 September 2024

Monthly headline CPI steady but housing costs drive an uptick in core inflation, reducing prospect of a 0.5% rate cut next week.

10 September 2024

The S&P 500 hit an all-time high before losing -8.2% from mid-July to early August. But stockmarkets recovered unnervingly quickly going into September. With the dust settled, it is worth considering if there are any lessons to be learned.

06 September 2024

US economy adds 142,000 jobs in August as the Fed plans to cut interest rates

21 August 2024

GAM Investments’ Jian Shi Cortesi, Investment Director, Asia/China Growth Equities, discusses the simmering transformation of China's economy. She analyses China's pivot to digital and green growth, exemplified by BYD's innovative impact in the electric vehicle sector.

14 August 2024

"Disruption spans across all industries," says Paul Markham, Investment Director, Global Equities, citing SharkNinja's case study to illustrate his strategy.

14 August 2024

Markets now pricing in a full 1% of cuts in US rates by the end of this year.

08 August 2024

Paul Markham, Investment Director, Global Equities emphasises the importance of active management amid ongoing shifts across industries.

05 August 2024

With megacaps dominating during the rally, Julian Howard argues that overlooked US mid-cap stocks now offer compelling fundamentals, including valuations and the sector make-up amid a booming US economy. Technology still has its place, but investors could benefit from a broader US equity mix.

01 August 2024

But pressure to cut rates is building; first move could come in September.

01 August 2024

But policymakers offer no guidance on the prospect of further cuts

26 July 2024

But doubts linger over the prospect of a September rate cut amid mixed inflation signals

22 July 2024

More than ever before, Asia Pacific producers are key players in the global clean energy revolution. But with geopolitical tensions rising and the threat of disruption looming ever larger, GAM Investments’ Meera Patel explores factors behind the risks and opportunities for investors in a region harnessing the might of the green economy to bolster its long-term economic prospects.

17 July 2024

But resilient services sector inflation could cause unease among policymakers.

16 July 2024

Julian Howard, GAM’s Chief Multi-Asset Investment Strategist, outlines his latest multi-asset views, exploring how the US is becoming increasingly immune to the world’s mounting geopolitical and economic challenges, despite contributing to them.

08 July 2024

Amid ongoing investor fervour for artificial intelligence (AI) stocks, Wendy Chen discusses her key takeaways from the COMPUTEX Taipei IT trade show, and shares her take on how the latest tech developments square with elevated valuations across the sector.

5 July 2024

As expected, the new centre-left government replaces the Conservatives after 14 years in office.

03 July 2024

GAM Investments’ Daniel Häuselmann discusses the Swiss National Bank's recent interest rate cut, its likely impact on the Swiss franc and the implications for Swiss equities.

28 June 2024

But firm spending on goods like software and autos raises doubts that the inflation battle has yet been won.

27 June 2024

Atlanticomnium’s Gregoire Mivelaz and Romain Miginiac provide insights into how they manage extension risk and its potential impact on AT1 bond performance.

25 June 2024

Given the shift of capital from public to private markets, and the trend of high-growth companies staying private longer, Liberty Street Advisors’ Christian Munafo explains how investors can tap into these dynamic, innovative and revenue-rich late-stage US businesses during their most exciting development phases.

20 June 2024

Path set for August easing but market concerns over Labour government spending may pressure sterling and ‘import’ inflation

19 June 2024

Five months ahead of the US election, the socio-political discourse has rarely been more fraught. For investors, the connection between politics and markets is natural, but evidence points to markets continuing to be largely agnostic.

17 June 2024

Why EM bonds could ride the crest of a wave as inflation eases.

12 June 2024

Amid inflation outlook uncertainty, official guidance now points to only one cut in 2024.

06 June 2024

Today's decision by the European Central Bank (ECB) to reduce the deposit rate by 25 basis points from 4.00% to 3.75% was almost a foregone conclusion.

06 June 2024

Delivering on net zero commitments by 2050 will be very challenging, affecting every industry and requiring vastly more resources than many policymakers appreciate, or will admit to their electorates. But for investors, the ambitious drive towards decarbonisation is presenting compelling opportunities across a range of European companies.

24 May 2024

Bad weather drags on spending, while cost of living pressures linger.

23 May 2024

Pan-European manufacturing sector sees upturn, but UK’s dominant services sector growth slows ahead of July election.

22 May 2024

Sticky core and services inflation could delay first rate cut from June to August.

20 May 2024

The end of the near-zero interest rate era and record-high stock markets in 2024 have raised the expectations bar for equity arbitrage. GAM Investments’ Global Head of Investments & Products Albert Saporta outlines the main strategies and tools at investors’ disposal, both in equity and merger arbitrage, to capitalise on the global opportunity set.

15 May 2024

Both headline and core inflation remain above the Fed’s target, although retail sales were flat.

15 May 2024

Larger US companies continue to dramatically outperform their smaller peers, with the credit environment acting as a tailwind for the biggest US companies. The combination of high interest rates and huge cash reserves is also a fillip for corporate titans.

14 May 2024

Wage growth outstripping inflation while jobless rate ticks up poses dilemma for the Bank of England.

10 May 2024

Stronger-than-expected bounce back from last year’s recession could pose a dilemma over the pace of rate cuts.

09 May 2024

With inflation forecasts falling, two 0.25% cuts remain likely this year.

08 May 2024

Governments, businesses and civil society have increasingly called for mandatory sustainability legislation, resulting in significant regulatory developments taking place across the EU, US and beyond. In this explainer, we focus on the Corporate Sustainability Due Diligence Directive (CSDDD) which is set to have game-changing consequences for the corporate landscape in Europe. It is also geared up to operate in tandem with the Corporate Sustainability Reporting Directive (CSRD).

03 May 2024

Weakest jobs growth in six months raises hopes for H2 interest rate cuts.

01 May 2024

Despite sticky inflation, reassurance that rates have peaked could leave policy in Goldilocks zone.

30 April 2024

Euro area economy grew by 0.3% in Q1, June rate cuts still expected, despite core inflation uptick.

26 April 2024

Personal Consumption Expenditures inflation remains too ‘sticky’ for Fed to sanction immediate rate cuts.

26 April 2024

Flavio Cereda, Investment Manager, Luxury Equities, highlights the polarisation within the luxury sector, defines what he calls the ‘luxury pyramid’ and discusses two of the stocks that he feels exemplify the top of the pyramid.

25 April 2024

But lingering inflation concerns could yet delay Fed interest rate cuts.

24 April 2024

In this video update Danny Dhingra, Investment Manager, GAM Systematic, highlights what he believes are the key characteristics of commodities, including their potential diversification and inflation hedging benefits against a backdrop of uncertain markets. He also delves into the themes which drive commodity prices and explains how he thinks about and invests in them.

23 April 2024

Dominant services sector expands for the sixth consecutive month, but manufacturing continues to labour.

11 April 2024

Latest releases fuel expectations that rates could head lower in Europe sooner than the US.

10 April 2024

US stocks have been defying higher interest rates consistently since October 2022, rising by around 40%. At the same time, the US economy has accelerated even as inflation has been cooling. Either something is about to break, or a profound change could propel stocks onwards.

10 April 2024

Upturn in CPI raises fresh doubts over the likely extent of rate cuts this year.

08 April 2024

With the peak of the 2024 proxy season soon approaching, Simona Rubino from GAM’s Governance & Responsible Investing (GRI) team shares her views on six themes that she sees as priorities for this year and are likely to shape the shareholder meetings agenda.

05 April 2024

Julian Howard, GAM’s Lead Investment Director of Multi-Asset Class Solutions (MACS) London, outlines his latest multi-asset views, exploring how the economy is growing without excess inflation and markets are progressing despite high interest rates.

05 April 2024

Strength of the US jobs market raises new questions over the pace of likely rate cuts.

04 April 2024

In the dynamic realm of real estate, the tale of housing demand unfolds a narrative shaped by generational shifts and economic forces. Tom Mansley, Investment Director and specialist in mortgage and asset backed securities (MBS and ABS), guides you through the chapters.

03 April 2024

Bigger-than-expected fall opens the door for ECB rate cuts as soon as June.

26 March 2024

But consumer confidence data appears less resilient ahead of November election.

22 March 2024

Plucky consumers keep spending ahead of tax cuts and likely summer fall in interest rates.

21 March 2024

US policymakers still pointing to three 0.25% rate cuts this year.

21 March 2024

Even as manufacturing remains mixed, UK economy has surely already emerged from recession.

21 March 2024

Policymakers still cautious on early cuts, although the first could yet come as soon as June.

20 March 2024

A year ago, the Credit Suisse crisis reverberated through European bank bonds. As we mark the anniversary, Atlanticomnium’s Romain Miginiac delves into the dynamics and future prospects of the AT1 market.

20 March 2024

Larger-than-expected dip raises expectations that multiple rate cuts will begin this summer.

19 March 2024

Yield curve control policy also ends amid above-target inflation and hefty pay hikes.

19 March 2024

Andrea Quapp, Investment Director for Multi Asset Class Solutions (MACS) Continental Europe, recommends that investors have more confidence in the strength and dynamism of the leading economies and utilise this for equity investments. However, geopolitical conflicts, delayed interest rate cuts and a shortage of skilled labour will always put the brakes on stock markets.

14 March 2024

But overall picture is mixed as retail sales disappoint and jobless claims dip

14 March 2024

The dominance of US tech giants has propelled valuations, lifting the US market to a succession of new all-time highs. With the valuation gap between the US and other regions widening, GAM Investments’ Charles Hepworth discusses why investors should take a global approach in their search for quality growth, highlighting diversification opportunities in European equities.

13 March 2024

Likely emergence from recession eases pressure on the Bank of England for early rate cut

13 March 2024

With the belief that emerging market equities are currently mispriced, undervalued and completely misunderstood, Tim Love, Investment Director, Emerging Markets Equities, thinks all that is missing is a ‘risk-on’ catalyst to unleash their potential. What kind of catalyst could that be?

12 March 2024

Softer signs from the jobs market will come as good news for the Bank of England

12 March 2024

Resilient inflation could yet dampen hopes for three rate cuts by the Fed this year.

8 March 2024

But uptick in jobless rate and revisions to December and January numbers raise prospect of a June rate cut.

7 March 2024

Multiple cuts still on the horizon, but any move before June looks very unlikely.

7 March 2024

The US is experiencing strong economic growth, abundant jobs and positive real wages. But puzzlingly, US consumer surveys reveal a deep and persistent dissatisfaction. Are we on the cusp of a self-fulfilling prophecy, or do further good times lie ahead?

6 March 2024

Reaction to Chancellor Hunt’s pre-election Budget

6 March 2024

At GAM Investments, our purpose is to protect and enhance our clients’ financial future. As part of this, we are constantly challenging ourselves to think beyond the obvious. In the GAM Explains series, we outline and explore key industry developments, concepts and less well-known asset classes.

5 March 2024

Revised data reaffirm hopes that UK recession could already be over while Eurozone PMIs paint a mixed picture.

01 March 2024

Latest headline and core rates fall by less than expected, cooling any talk of pre-June rate cut.

29 February 2024

Fed’s preferred inflation measure is still not giving a green light to near-term interest rate cuts.

27 February 2024

Impressive results from Europe’s banks continue to reflect years of balance sheet strengthening, regulatory changes and the end of the era of rock-bottom interest rates.

22 February 2024

FOMC meeting minutes suggest cautious approach to cuts until inflation battle is won.

22 February 2024

More of the same, as services sector grows but manufacturing contracts, posing dilemma for the Bank of England.

20 February 2024

Jian Shi Cortesi, Investment Director, Asia/China Growth Equities, delves into the intricate dynamics of Chinese and Asian equities. She focuses on the impact of manufacturing shifts, India’s emergence and the potential parallels with Japan’s economic trajectory.

16 February 2024

Recovery from December’s disappointment raises hope that UK recession could be both shallow and brief.

15 February 2024

Larger-than-expected dip in economic activity set to pile pressure on PM Sunak

15 February 2024

Slide in retail sales but positive signs from the jobs market add to Fed’s dilemma on early rate cuts.

14 February 2024

Slowdown in food inflation and prospect of lower year-on-year energy costs could put 2% official target in sight during this election year.

13 February 2024

‘Sticky’ wage inflation poses a dilemma for Bank of England policymakers.

13 February 2024

Resilience of headline and core CPI is set to impact the timing of potential rate cuts later this year.

12 February 2024

Hidden in plain sight for many investors, longer-dated US Treasury bonds may seem dull to some but now offer multiple opportunities. With valuations around their most attractive levels in recent years and increasingly competitive with equities, Julian Howard believes they are valuable portfolio diversifiers well-placed to capitalise when inflation and growth ultimately ease.

07 February 2024

Thomas Funk, Investment Director, portfolio manager of Swiss Equities, analyses whether the structural growth of Swiss companies in the coming years will also be reflected in an increase in Swiss franc profits, despite the real appreciation of the franc.

6 February 2024

Cost-of-living impact continues to hit consumers, adding to pressure on the ECB.

05 February 2024

While LVMH’s latest results spark hope for a sales recovery across the luxury sector, Flavio Cereda, Investment Manager, Luxury Equities, discusses their implications and the growth normalisation.

02 February 2024

Stronger-than-expected jobs market likely to push any prospect of Fed rate cut into the second quarter.

02 February 2024

With tight spreads across credit markets seemingly priced for near-perfection and distinctly out of kilter with many economic forecasts, Ralph Gasser asks whether interest rate and credit markets are singing from the same hymn sheet. Against the backdrop of these apparent contradictions, Ralph also assesses the role cat bonds can play in optimising returns and improving diversification in fixed income portfolios.

01 February 2024

Rising food costs cast doubt on prospect of near-term cut in Euro area interest rates.

01 February 2024

Follows lead of US and Eurozone peers but the latest inflation projections and vote split raise doubts over timing of likely cuts this year.

01 February 2024

Touches on scenario for possible cuts but wants more reassurance that inflation is coming to heel.

30 January 2024

Germany tipped into recession but growth in Italy and Spain helped wider Eurozone avoid contraction.

26 January 2024

Fed’s preferred inflation measure slips closer to yearly target, keeping chance of a March rate cut alive.

25 January 2024

ECB seemingly happy with its present hawkish bias while US GDP figures top forecasts, allaying some inflation worries.

24 January 2024

US Services PMI highest in seven months, manufacturing returns to growth, in contrast to struggling Europe.

24 January 2024

Manufacturing continues to shrink in France, Germany and the UK but growth in latter’s services sector could yet save the UK economy from recession.

23 January 2024

Growth in VAT and tax receipts eases some strain on public finances ahead of this year’s general election.

19 January 2024

Consumers’ belt-tightening raises fears that recession looms for the UK economy.

17 January 2024

Latest news heightens concerns that ‘sticky’ inflation could scupper hopes of early interest rate cuts.

17 January 2024

With retail sales up 5.6% year-on-year, robust US consumer activity adds to doubts over the pace of likely rate cuts this year.

16 January 2024

Pay growth eases to slowest pace since January last year.

12 January 2024

Still, with GDP shrinking by -0.2% in the three months to November, recession risks are looming large.

11 January 2024

US headline inflation tops forecasts, lifted by higher housing costs, although core inflation broadly met expectations.

09 January 2024

GAM Investments’ Julian Howard outlines his latest multi-asset views, exploring how inflation, growth and interest rates appear set to cool over the course of 2024, leaving the world looking a little more like 2019 again.

05 January 2024

With hourly earnings growth remaining firm, investors are reassessing the likely pace of interest rate cuts this year.

5 January 2024

Phasing out of energy support for consumers lifts headline inflation but core inflation continues to ease.

04 January 2024

This morning’s S&P Global/CIPS PMI survey suggests that activity in the UK’s dominant services sector continues to expand.

4 January 2024

At December’s meeting, US policymakers acknowledged the potential for interest rate cuts by the end of the year.

03 January 2024

Likely to reassure policymakers that the US labour market continues to moderate, with all eyes turning to Friday’s payroll and earnings data.

21 December 2023

L-L-Mentary, my dear Watson– GAM Systematic’s Chris Longworth discusses the rise of Large Language Models in the investment world, their strengths and limitations, and assesses how systematic managers can maximise the opportunities they present.

20 December 2023

Gregoire Mivelaz, Fund Manager, Atlanticomnium, discusses the current state of fixed income markets, European financials and his outlook for subordinated debt.

20 December 2023

COP28 concluded in early December. Was any tangible progress made this time? GAM looks at what came out of it and what the implications are for the energy transition, biodiversity and the future.

14 December 2023

Investors who calculate in Swiss francs need to think about certain things differently, says Andrea Quapp, Lead Investment Director, Multi-Asset Class Solutions (MACS), Continental Europe.

14 December 2023

UK rate-setters appear less dovish than had been expected but ECB reinforces expectations of cuts next year.

14 December 2023

US bond market rallies on unexpectedly dovish tone, with policymakers indicating a 0.75% fall in interest rates next year.

13 December 2023

Bigger-than-expected monthly shrinkage and stagnant three-month picture fuels pressure for rate cuts next year.

13 December 2023

GAM considers the vast array of potential opportunities that artificial intelligence (AI) could enable in the sustainable investing space, as well as some of the risks that will need to be mitigated.

12 December 2023

Slower-than-expected pay growth is welcome news for policymakers in a relatively tight jobs market.

12 December 2023

Annual inflation rate eases from 3.2% in October to 3.1% in November.

12 December 2023

China is not without its problems, but, given the sheer scale of opportunities, warrants far more than peripheral market status for equity investors, argues Jian Shi Cortesi. She believes investors should look through the lingering anti-China haze and instead focus on the powerful longer-term growth story.

8 December 2023

November non-farm employment change shows 199,000 additional jobs over the month, ahead of the expected figure of 184,000

6 December 2023

Retail sales across the single currency zone rise but fall short of forecasts as cost pressures continue to drag on consumer activity.

5 December 2023

Revised figures indicate that activity in the dominant services sector expanded for the first time since July.

4 December 2023

Goro Takahashi and Lukas Knüppel, Investment Directors, Japan Equities, explore how various global and domestic factors have contributed to an optimistic outlook for the Japanese equity market.

30 November 2023

GLP-1 weight loss drugs are transforming the healthcare scene. Some analysts are predicting that the anti-obesity market may become the largest pharmaceutical market in history, while on the other hand, share prices of medical device companies, particularly those specialising in diabetes and obesity management, are beginning to feel the pressure.

30 November 2023

Lower-than-expected EU CPI fuels speculation of interest rate cuts next year.

29 November 2023

GAM outlines the hopes and expectations for COP28, with the investments necessary to facilitate the transition to a net zero economy increasingly coming into focus.

29 November 2023

Higher business investment and government spending lift growth to a level likely to worry policymakers, albeit consensus still says rates have peaked.

27 November 2023

Chinese stocks have taken a significant hit in 2023, disappointing global investors. Real estate scandals, consumer caution and western ‘China bashing’ have been key factors. But Julian Howard believes that China's structural story is undimmed and, short term, sees a strong contrarian case.

24 November 2023

Following a tough 2022, emerging market debt has fared well so far in 2023, outperforming US government bonds and investment grade credit, particularly as some softer US data weighed on the dollar. Paul McNamara, Investment Director and lead manager on emerging market debt strategies, analyses the key factors affecting the asset class and shares his thoughts on what to look out for in 2024.

23 November 2023

Digital Platforms are disrupting many industries including sports. David Goodman writes on The Kings League, brainchild of FC Barcelona legend Gerard Piqué, which is disrupting traditional football and using social media platforms for ready-made distribution.

22 November 2023

With the economy flatlining and an election looming, Jeremy Hunt announces a bigger-than-expected £20 billion giveaway, including cuts to business tax and National Insurance.

21 November 2023

With higher food prices becoming ingrained, elevated wage inflation means the fight against inflation is not yet won, says Andrew Bailey.

16 November 2023

Have you imagined going out in a self-driving robo-taxi? It is happening now. Pieran Maru explores the exciting introduction of robo-taxis, including participants such as Waymo, Cruise and Tesla’s Dojo, with testing being carried out on the streets of San Francisco.

15 November 2023

Bigger-than-expected drop in both headline and core inflation fuels speculation over possible interest rate cuts next year.

14 November 2023

Although core inflation continues to show some resilience, softer headline inflation slashes the odds of a year-end rate hike.

14 November 2023

Latest figures show the Eurozone economy remained in the doldrums in Q3. But an upbeat ZEW economic survey raises hopes that Germany could avoid recession.

14 November 2023

Growth in wages ex bonuses eases in line with forecasts but average earnings inc bonuses remain resilient enough to concern the BoE.

13 November 2023

Flavio Cereda, Investment Manager, Luxury Equities, explores the post-Covid transformations in the luxury sector and how the top brands have adapted. He also discusses the future implications and opportunities.

10 November 2023

UK economic activity continues to largely flatline, suggesting that higher borrowing costs have squeezed growth and raised recession risks.

9 November 2023

Pivotal climate Conference of the Parties (COP) meetings in recent years have led to much of the global economy making pledges to achieve net zero by 2050.

8 November 2023

The third consecutive monthly drop suggests that consumers are struggling with stubborn inflation and elevated borrowing costs.

7 November 2023

Asian low price ecommerce marketplace Temu is expanding globally, becoming the most downloaded app in the US. GAM Investments’ Wendy Chen explains how it is achieving success.

3 November 2023

The latest US labour data suggests that the jobs market could be cooling. Despite the Fed’s recent ‘higher-for-longer’ rhetoric, this softer jobs data will raise speculation over the timing of future rate cuts.

02 November 2023

Artificial intelligence (AI) is one of the most disruptive technologies of our time, but some of the AI-driven stocks are finding their valuations hard to justify. GAM Investments’ Mark Hawtin examines the AI capex bubble, citing examples from history of when a “build it and they will come” approach led to irrational exuberance and losses for many investors, but ultimately some long-term gains for disruptors.

2 November 2023

As expected, the Fed left rates unchanged. But their acknowledgement that tighter financial conditions are starting to drag on growth came as a surprise.

2 November 2023

The Bank’s second successive ‘hold’ comes as no surprise given the UK’s subdued economic backdrop, although Andrew Bailey downplayed any prospect of near-term rate cuts.

01 November 2023

Andrea Quapp, Investment Director for Multi Asset Class Solutions (MACS) Continental Europe, advises investors to look through the impact of a flood of negative news flow, including the tragic events in the Middle East and Ukraine. While people are understandably unsettled, she believes they are also overestimating the impact on the macroeconomy.

31 October

The latest CPI figures reflect easing energy and food price inflation, although Eurozone economic activity continues to disappoint.

30 October 2023

Many market commentators and money managers have been recommending going long interest rate duration for months now – but markets have shown no sign of turning in their favour yet. Indeed, we may still not be done, argues Ralph Gasser, Head of Fixed Income Investment Specialists.

24 October 2023

The latest jobless figures suggest that rising borrowing costs may be feeding through to the labour market.

20 October 2023

Following the overnight double by-election defeat for the ruling Conservatives, this morning’s bigger-than-expected fall in retail sales partly reflects cost of living pressures.

18 October 2023

UK inflation remains sticky, underpinned by rising petrol prices. The Bank’s preferred core measure dipped marginally to 6.1% but also topped forecasts.

17 October 2023

GAM Investments’ Julian Howard outlines his latest multi asset views, exploring how committed investors face the challenge of stretched valuations, China’s economic slowdown and rising geopolitical risks.

13 October 2023

Following China’s Golden Week holidays, GAM Investments’ Jian Shi Cortesi and Fanwei Zeng reflect on the country’s latest developments in tourism and consumption, and how the trend towards experiences is set to create investment opportunities.

12 October 2023

The UK economy grew modestly in August, although July’s GDP was downgraded. With the effects of higher interest rates now being felt, the economy’s prospects remain decidedly in the balance.

12 October 2023

With both headline and core US CPI stabilising on an annual basis, markets are pricing in the view that US interest rates are at their peak. But calling the top just yet could be premature.

06 October 2023

While some of the increased hiring is just a post-Covid normalisation, it puts further pressure on the Federal Reserve.

05 October 2023

Following the fallout of the Credit Suisse collapse in March, a dislocation between fundamentals and valuations has persisted in the Additional Tier 1 (AT1) market. Atlanti’s Romain Miginiac discusses how a return to the ‘status quo’ of robust earnings, new issues and banks calling creates a positive environment for AT1s.

04 October 2023

GAM Investments’ Mark Hawtin explains why, following a surge in AI-related share prices, he is reassessing the ‘picks & shovels’ approach to the sector. Mark also discusses why he is taking advantage of attractive valuations to dig deeper into China’s disruptors.

27 July 2023

Rob Mumford from GAM Investments’ Emerging Markets Equity team discusses the recent surge in technology stocks, discussions around generative artificial intelligence (AI) and implications for the emerging market technology sector

28 June 2023

At GAM Investments, our purpose is to protect and enhance our clients’ financial future. As part of this, we are constantly challenging ourselves to think beyond the obvious. In the GAM Explains series, we outline and explore key industry developments, concepts and less well-known asset classes.

28 April 2023

What are green bonds?

07 March 2023

GAM Explains: Diversity

01 December 2022

GAM Explains: The Convention on Biological Diversity (the ‘Biodiversity COP’)