Electric Cars in India

Rising incomes and urbanization, a passenger vehicle sales boom and the drive toward cleaner air could be setting the stage for the transformation of mobility in India and the auto industry worldwide. Air pollution, rising incomes and the largest urbanization wave of the 21st century could drive the next era of mobility in India, one of the world’s most populated nations. This pivot to Autos 2.0 electric vehicles, shared mobility and autonomous driving could potentially help drive half of the incremental global car demand over 2017-30 and position India as a key player in the evolution of auto manufacturing. The shift comes as India faces the largest urbanization wave of the 21st century. By

Investing in China

It’s only a matter of time before global fixed income investors own more Chinese assets, particularly given the prospect of benchmark inclusion into several major global indexes and greater accessibility for the onshore Chinese bond market. Chinese bonds seem favorable to many investors looking to add an element to their global investment portfolio. An important question to examine is why investors are showing an increasing interest in China’s onshore bond markets? China’s bond market is the world’s third-largest after the U.S. and Japan, representing over 10% of the global bond market. While offshore Chinese markets and onshore equity markets have long been accessible to global investors, l

Investing in the Overseas Market

It has been a challenging year for investing in foreign markets. Economic growth has diverged between the U.S. and non-U.S. regions and equity markets have followed suit. It has been a challenging year for investing in foreign markets. Economic growth has diverged between the U.S. and non-U.S. regions and equity markets have followed suit. However, the conditions that led to weakness in international markets and strength in the U.S. could well reverse in the latter part of this year. In the U.S., the Federal Reserve is likely to keep raising interest rates, earnings growth is at a peak and market leadership in the tech and consumer discretionary sectors is looking vulnerable. In contrast, be

The Industrials Sector

Concern about global trade tensions has hurt industrial stocks. But that risk may now be priced in and valuations might start to look attractive again. The industrials sector is made of large multinational manufacturers, defense companies, equipment makers and aerospace firms. Investors have seen this industry has been buffeted by trade conflicts this year, but the risks aren’t going away. However, it is important to note that portfolio managers have a better handle on the situation and believe trade risks have already been factored in stock valuations. Not only that, but they also have characteristics that could enable them to grow in the coming years. The industrials market has been laggin

Universities: The Problems with Academic Conglomerates

Major research universities are struggling with the forces of rising tuition, demographic changes, online learning growth, pressure on research funding, volatile endowment earnings, and overall dissatisfaction with graduate employment opportunities. All these are trends with significant risks for university departments, colleges, and central administrations. In practicality, research universities are similar to corporate conglomerates in structure, but suffer from limited degrees of freedom. A university can be viewed as a conglomerate of independent businesses: colleges, divisions, and school. All of these “businesses” differ by norms such as intellectual traditions and educational objectiv

Emerging Economies: Progress Until Now

Emerging economies made up two-thirds of the world’s GDP growth over 50% of new consumption in an analysis that includes the past 15 years, yet Economic growth among those economies vary widely. Seven economies managed real average annual GDP growth of 3.5 percent for over 50 years. Those seven economies are China, Hong Kong, Indonesia, Malaysia, Singapore, South Korea, and Thailand, Ethiopia, India, Kazakhstan, Laos, Myanmar, Turkmenistan, Uzbekistan, and Vietnam managed to have real average annual GDP growth of over 5 percent for over 20 years. The impacts of such growth is documented well through the diminishing of extreme poverty, a number that has now decreased by more than one billion

The Mystery Behind Global Bond Paradox

Let us discuss how hedging can enhance low local yields. Yields on the German bund remain stuck below 50 basis points while the Japanese government bonds yield virtually zero basis points. U.K. gilts on the other hand yield only 125 basis points. Does this mean non-U.S. bonds such as the ones mentioned above hold any value to dollar-based investors? For a dollar-based investor, hedging foreign currency exposure on lower yielding global bonds may potentially result in higher yields than U.S. Treasuries. Simply put, investors are getting paid to hedge the currency risk back to the U.S. dollar. Other potential benefits for those who invest internationally and hedge their U.S. currency risk expo

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