Global Perspectives

  • Rising LNG Tide Changes How It’s Priced and Traded

    Supply and demand growth in liquefied gas benefits some producers more than others. For investors in U.S. upstream gas producers and Gulf Coast LNG infrastructure, caveat emptor.

  • Powell Tempers the Fed’s “Hawkish Cut”

    While the Fed met expectations in its latest interest rate reduction, it signaled that hikes are a long way off.

  • Repo Market Rate Spikes, Bank Regulation and the QE Misnomer

    Recent stress in repo markets reflect the confluence of a shrunken Fed balance sheet amid steady economic growth and increasing capital and liquidity regulations on banks.

Parsing Long/Short Equity Liquid Alts Performance, Fees and Net Exposures

Investors interested in long/short equity mutual funds would be well advised to consider more than their much-more competitive fees vs. private hedge fund peers. To genuinely hedge the long components of a portfolio, look for lower net long exposures in a long/short equity allocation, and added value on the short side even in rising equity markets.

Guess What Delivered in Spades in Thornburg’s Internal 2017 Global 3 Stock/Security Competition?

At the beginning of every year, a number of investment professionals at Thornburg voluntarily place their informal, internal-only bets on which three securities—from stocks to currencies or other financial assets—might together produce the best beta-adjusted returns in the year ahead. In 2017, the winner was Sean Sun, whose three picks included bitcoin. The cryptocurrency skyrocketed last year, of course, helping Sean win the prizeless competition by a wide margin.

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