Economies worldwide have proved resilient in the face of stubbornly high inflation and monetary tightening, and equities were rewarded with strong returns in the first quarter of 2023. Heightened concern over banks’ stability held back the financial sector, but elsewhere the rebound begun in the fourth quarter of 2022 remained in full swing. Europe’s momentum continued, backed by exports to a re-opening China and ever-cheaper energy; the Eurozone is increasing in the strategy’s model rankings and positioning. Despite Information Technology’s preponderance in the US and market leadership for the quarter, overseas markets kept pace, supported by modest strength in currencies such as the euro and pound, and company fundamentals within sectors. We believe that this latter source of strength—resiliency of earnings and convergence of multiples towards levels seen in US peers—will prove a long-term tailwind for international equities’ performance.
Recent Insights
Bailard CEO Sonya Mughal shares what’s kept her there for 30 years
Sonya Mughal, CFA opens up in a candid interview with Pensions & Investments' about her journey from an entry-level position to CEO, all at Bailard, in her 30-year career solely dedicated to the Company. She discusses her and Bailard's values, how people can find the right place to work, Bailard's culture, and the importance of understanding your clients.
December 9, 2024
Bailard Awarded Fifth in Its Category Among the 2024 Pensions & Investments Best Places to Work in Money Management
Bailard, an independent asset and wealth management firm based in the San Francisco Bay Area, has been named one of the 2024 Best Places to Work in Money Management by Pensions & Investments.
December 9, 2024
Country Indices Flash Report – November 2024
Donald Trump won the electoral college and popular vote on November 5th to regain the U.S. presidency in January. Republicans also gained a Senate majority and held control of the House. Trump has rapidly announced loyal supporters as Cabinet picks. Markets echoed November 2016: a strong dollar, U.S. equity outperformance, and small cap/value stocks outperforming large cap/growth.
November 29, 2024
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