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Growth Team Weekly Investment Insights
In this week's post, we highlight inflation and retail sales results, market performance, Starbucks's new CEO, and a key milestone hit by AstraZeneca.
Great Expectations
Narratives have always had the power to drive markets. For stocks, few narratives are more compelling than those about new technologies, innovations or business models that can produce tremendous profits growth for the foreseeable future.
Growth Team Weekly Investment Insights
1) Equity Market Roller Coaster
Recession concerns and market returns gyrated back and forth all of last week.
2024 EMsights Olympic Games
As world-class athletes vie for gold medals in Paris, the EMsights Capital Group is hosting its own unique competition where we celebrate standout countries in the emerging markets landscape.
Growth Team Weekly Investment Insights
1) Hard Landing Fears
Volatility increased last week (and has continued at the time of writing this) due to concerns that the US may not thread the soft-landing needle.
Growth Team Weekly Investment Insights
1) The Potato Economic Indicator
One of the latest bottom-up data points indicating consumer weakness comes from one of the world’s largest potato producers, Lamb Weston.
Growth Team Weekly Investment Insights
After a few weeks off due to vacation and working through the quarter-end rush, we are back.
1) Deflation
Starting at a higher level, there has been a lot of data released over the past few weeks that point to a macro environment of slowing inflation and a slowing (albeit still strong) economy.
The Dog Days of VRIs
Value Recovery Instruments (VRIs), also known as warrants, are instruments that provide contingent payouts to creditors under specific scenarios. They are typically structured as call options or warrants that are tied to a state variable (such as GDP or exports), which is strongly correlated with the borrower’s ability to repay debt.
Often seen as deal “sweeteners”, VRI’s expedite debt restructurings by helping bridge the expectation gap between creditors and debtors.
Public vs Private Credit: Golden Age, or Fool’s Gold?
One of the most widely debated investment topics in recent years is the rise of private credit, in particular the growth of the sponsored direct lending sector. We discussed our team’s view on this topic at our recent 2024 Artisan Investment Forum, diving into the drivers of growth across public and private credit along with key considerations that investors should bear in mind when allocating to credit markets in today’s investing environment.
Global Perspectives on the US Construction Boom
Benefiting from over $1.2 trillion in government-backed stimulus and a post-COVID economic recovery, many investors may not be aware of the substantial surge in US construction spending, particularly in manufacturing.