When Will the U.S. Economy Stop Slowing Down and Start Speeding Up?

Posted on May 21, 2013 by Marco Pirondini

As earnings data from companies comes trickling in, it all but confirms a slowdown in the second quarter.

The U.S. economy is moving slowly at a 2.5% growth rate, but doing better than other economies around the developed world. The U.S. has been able to produce this growth in a period when the fiscal stimulus is diminishing and we’ve seen a steep increase in taxes in the first part of 2013. The real positive news, as far as the U.S. economy is concerned, is that the real estate market continues to improve. (more…)

Filed under: Equity Market Insights, Europe, Macroeconomics, Marco Pirondini | Tagged: , , , , , | Leave a Comment »

Redrawing the Investment Map

Posted on May 21, 2013 by Giordano Lombardo

Since the global financial crisis of 2008, the world has evolved in ways that are unpredictable and often unsettling for investors. Our 2013 Colloquia Series Forum, titled “Redrawing the Map: New Risk, New Reward,” was held in April in Beijing, China and brought investment experts from Pioneer Investments together with leaders from central banks, sovereign wealth funds and academic communities to discuss these issues and their implications for investments. (more…)

Filed under: Equity Market Insights, Europe, Giordano Lombardo, Macroeconomics, Political | Tagged: , , , , , , , , , , , , , , , , | Leave a Comment »

U.S. GDP: After Some First-Quarter Flurry, a Slowdown?

Posted on April 15, 2013 by Ken Taubes

We had a little flush of activity in the first quarter, which we believe will lead to much better GDP – potentially well over 3% – than people anticipated in the beginning of the year. We look at this activity as a little bit of a catch-up, for a couple of reasons: (more…)

Filed under: Europe, Ken Taubes, Macroeconomics, Uncategorized | Tagged: , , , , , , , | Leave a Comment »

What’s Next for U.S. and European Markets?

Posted on April 4, 2013 by Mike Temple

I was asked recently to provide some color around the state of global fixed income markets as we close out the first quarter of 2013. Of course, one of the more watched situations in the global markets has been Cyprus’s banking crisis. I won’t go into too much depth on the subject here, as my colleague, Cosimo Marasciulo, has recently provided a comprehensive analysis.

(more…)

Filed under: Europe, Fixed Income Market Insights, Macroeconomics, Mike Temple, Political | Tagged: , , , , | Leave a Comment »

Cyprus’s Banking Crisis: Testing the EU’s Problem-Solving Skills

Posted on April 3, 2013 by Giordano Lombardo

I had the opportunity to talk with Cosimo Maracsciulo, Pioneer’s Head of European Government Bonds and Foreign Exchange, on the latest issues with Cyprus’s banking crisis. A summary of his thoughts follows.

Why did Cyprus’s financial crisis spur the European Union into action?
There are a couple of reasons worth mentioning. The first is that these smaller countries have developed, at times, a banking industry whose assets under management outgrow GDP by several times: the ratio is above 7-to-1 for Cyprus. The second reason for watching Cyprus’s liquidity crisis closely is that it may provide the first severe test of the European Union’s (EU) ability to deal with the EMU debt crisis after the European Central Bank (ECB) pledged to save the euro from collapse.

(more…)

Filed under: Europe, Fixed Income Market Insights, Giordano Lombardo, Macroeconomics | Tagged: , , , , | Leave a Comment »

Currency and Emerging Markets: What Can We Expect?

Posted on March 28, 2013 by Giordano Lombardo

Currency markets are making headlines again after taking a low profile amid the crises and the turmoil in financial markets of the last five years or so. I asked Greg Saichin, Head of High Yield and Emerging Markets Fixed Income Portfolio Management here at Pioneer, to provide his views about what is going on, and what he sees as the drivers of investment flows into emerging markets.

(more…)

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Concerned by Recent Economic Data? Look Closer …

Posted on February 11, 2013 by Marco Pirondini

We’ve seen a lot of GDP data recently that, at first look, may seem a bit concerning. But if we take a moment for analysis, much of the news is actually good for the economy and the markets. (more…)

Filed under: Equity Market Insights, Europe, Marco Pirondini | Leave a Comment »

Quick Takes on the Investing Year Ahead

Posted on January 22, 2013 by Sam Wardwell

We covered a lot of market and investment topics at Pioneer’s National Sales and Marketing Meeting last week. Here are some summarizing notes on a few that were popular:

  • GDP Growth for the U.S.
  • Expectations for rates: Fed Funds Rate and the 10-year Treasury
  • EM equities favored over U.S. Equities?
  • Things that keep us up at night (outside of the debt ceiling, Europe, and Middle East tension) (more…)

Filed under: Equity Market Insights, Europe, Fixed Income Market Insights, Macroeconomics, Political | Leave a Comment »

Taking Stock of the Greek Issue

Posted on January 18, 2013 by Giordano Lombardo

After a lot of discussion about imposing strict provisions to obtain new funds, the EU disbursed another loan for Greece with a few strings attached. I spoke with Monica Defend, Pioneer’s Head of Global Asset Allocation Research, to get her opinion on some questions asked.

(more…)

Filed under: Europe, Giordano Lombardo, Macroeconomics, Political | Leave a Comment »

Italy: The Impending Elections

Posted on December 20, 2012 by Giordano Lombardo

As Italy’s technocratic party prepares to exit , I asked Cosimo Marasciulo, Pioneer’s Head of European Government Bonds and Foreign Exchange, for his thoughts on pending elections in 2013 and how they might affect investors. I’ll share a few of those thoughts with you here:

(more…)

Filed under: Europe, Giordano Lombardo, Macroeconomics, Political | Leave a Comment »

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