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Multi-Asset – CIO Market Update – 9th Mar 2020

09 March 2020

CIO Update with Will Bartleet, CIO and multi-asset portfolio manager at Pacific Asset Management

Market Overview
Growing concerns around the coronavirus have led to a sharp increase in volatility in markets over the last few weeks. Today, markets have fallen as Italy has quarantined 16 million people in Lombardy and the oil price has fallen sharply on a dispute between OPEC members. Equity markets are concerned about the impact of the virus on the global economy and on corporate earnings.  

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Emerging Markets – February 2020 Review

06 March 2020

Emerging Markets – February 2020 Review
From the North of South Capital team

During a volatile February, the fund slightly lagged the MSCI Emerging Markets index. Having been ahead of the index for most of the month, we saw a selloff in some of our key markets during the final days. In particular weakness in Russia, triggered by a sell-off in oil prices proved a drag on performance. Additionally, the explosive spread of Coronavirus in South Korea via a religious sect caused that market to underperform.   

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Multi-Asset – CIO Monthly View – February 2020

03 March 2020

CIO Monthly View with Will Bartleet, CIO and multi-asset portfolio manager at Pacific Asset Management

Markets fell sharply in the last week of February as investors were spooked by the marked rise in the number of coronavirus cases outside China. It is now clear that hopes that the spread of Covid-19 would be contained within China have been dashed, despite China’s draconian steps to halt the movement of around 50 million people.  

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PAM Weekly Investment Team Meeting

03 March 2020

Conference Call for Clients
With the PAM Investment Management Teams

Last week saw markets fall sharply as investors became unnerved by the marked rise in the number of coronavirus cases outside China.  Because of the increased market volatility, Pacific Asset Management invited clients to listen and take part in the Pacific Weekly Investment Team Meeting. Matthew Lamb (CEO), was joined by Will Bartleet CIO / Portfolio Manager of Pacific’s range of multi-asset solutions and by our Emerging Markets and G10 Macro rates fund teams. 

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G10 Macro Rates Market Analysis – Weekly Review – 2nd Mar 2020

02 March 2020

With the Pacific G10 Macro Rates Team

Global Macro Overview
Last week the main news and market reactions were again dominated by Coronavirus events and news flow. Markets repriced as they continued to absorb the virus related information flow. A picture of lower economic activity has emerged and the markets have priced a higher probability of large-scale lockdowns being implemented in Europe and North America. This realisation was a result of extensive outbreaks over the previous weekend in northern Italy and South Korea, demonstrating that modern countries with well-developed health systems are no less susceptible than any other.  

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Multi-Asset – CIO Market Update - 28th Feb 2020

28 February 2020

CIO Update with Will Bartleet, CIO and multi-asset portfolio manager at Pacific Asset Management

Market Overview
Markets have fallen sharply over the past week as investors have been spooked by the marked rise in the number of coronavirus cases outside China. It is now clear that the hopes that the spread of Covid-19 would be contained within China have been dashed, despite China’s draconian steps to halt the movement of around 50 million people. The virus has now been detected in every continent apart from Antarctica and has become a concern for all countries around the globe. As we write, there are over 83,000 reported cases, of which nearly 79,000 are within China.  

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G10 Macro Rates Blog – Central banks can’t come up with vaccines

26 February 2020

Latest G10 Macro Rates Blog
With Shayne Dunlap, Co-Portfolio Manager

"Central banks can’t come up with vaccines"
So said regional Federal Reserve Bank president Tom Barkin.

We have experienced two world changing events over the last 12 months, the first was last August with the standoff between the US and China on Trade Agreements and now we are experiencing the spread of CoVid-19. Both are similar in that they are affecting the major G10 economies in the same way and at the same time. The net effect of this is that correlations of markets have increased once again. 

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G10 Macro Rates Market Analysis – Weekly Review – 24th Feb 2020

25 February 2020

With the Pacific G10 Macro Rates Team

Global Macro Overview
Last week we observed continued divergence between equity and fixed income markets. Whilst Fixed Income markets started to price in a very benign global growth outlook due to concerns about the spread of coronavirus, the S&P reached new highs on Wednesday.  

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G10 Macro Rates Market Analysis – Weekly Review – 17th Feb 2020

17 February 2020

With the Pacific G10 Macro Rates Team

Global Macro Overview
Interest rate markets were trading with caution over the last week trying to navigate through the coronavirus headlines, politics and macroeconomic data. Yield on the 10-year US Treasuries was stuck in a narrow (less than 10bps) corridor the whole week. At the same time, equities continued grinding higher despite the uncertainty and unquestionably lower (short- to medium-term) global growth prospects that is starting to show in the data. 

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G10 Macro Rates Market Analysis – Weekly Review – 10th Feb 2020

10 February 2020

With the Pacific G10 Macro Rates Team

Global Macro Overview
Coronavirus related headlines continued to dominate financial markets last week. Once again G10 interest rates paid little attention to strong fundamental data with government bonds selling off in the first half of the week and then rallying back into the weekend. 

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