Disclaimer: Views in this blog do not promote, and are not directly connected to any L&G product or service. Views are from a range of L&G investment professionals, may be specific to an author’s particular investment region or desk, and do not necessarily reflect the views of L&G. For investment professionals only.
Asset allocation
Equity valuations uncovered (part 5): Beyond extremes
Do valuations only matter in extremes? And can the precise form of the valuation metric lead to different conclusions? 
Chart of the month: Have reports of the dollar's death been greatly exaggerated?
In May 1897, rumours began to circulate in New York of the death of Mark Twain. The great writer, who was in London at the... 
Why diversification is key to a resilient portfolio
In the first of a series on overcoming equity market concentration risk, we consider alternatives to a traditional portfolio, and provide a practical guide to... 
T-bill stakes: of markets and accords
Exploring President Trump’s unconventional paths to securing dollar-treasury dominance. 
T-bill stakes: finding buyers and sellers
Treasury ownership has changed significantly since discussion of the ‘balance of financial terror’ 20 years ago. 
Margin call: will ‘middlemen’ markups amplify tariff inflation?
Does the behaviour of branded baked-bean prices during the energy crisis point to upside risks to tariff inflation from ‘middlemen’ markups? 
Equity valuations uncovered (part 4): How much of an edge do valuation tilts offer?
We explore the extent to which forming more accurate return expectations translates into efficient trading strategies. Whilst tilting using valuations alone may modestly boost risk-adjusted... 
Skirting recession
The US administration has reversed course on its most aggressive use of tariffs, but some economic damage could still lie ahead. 
Factor forecasting, recalibrated
We update some past research into expected returns and risk of factors to allow for recent experience. 
Chart of the month: Don’t fear the dip?
Major falls in global stock markets often dominate the headlines. They fuel panic and confusion, potentially leading to rash decisions by investors. But how long... 
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