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 3): Short-term insights
A common refrain is that valuations are irrelevant over short horizons, but that they become strong predictors in the longer term. What motivates such statements... 
Equity valuations uncovered (part 2): Valuation regressions – handle with care
What are the pitfalls of regressing equity returns against starting valuations, how can we correct for them and what is the upshot for expected returns? 
A fresh perspective on EM: advanced economies hiding in plain sight
Who’s richer: Japan or China? The answer reveals why GDP per capita doesn’t tell the whole story. 
Chart of the month: What can we learn from the long history of US tariff policy?
The Tariff Act was one of the first major pieces of legislation passed after the formation of the United States in 1789. Where George Washington... 
What should investors make of US tariffs?
President Trump has announced far higher tariffs across all trading partners than markets expected. What’s next for the US economy and markets? 
Equity valuations uncovered (part 1): Fathoming murky waters
I introduce a series of blogs exploring the role of valuations in forecasting equity returns. 
Chart of the month: EU-turn
One of our potential surprises for 2025 was a resurgence in non-US equities. In this vein, it’s certainly been a bumper start to the year... 
The great unravelling?
The initial bout of optimism around President Trump’s agenda for the US economy appears to be fading as uncertainty rises. Is this just a temporary... 
Spreading risk: A matter of philosophy
Could 2025’s run of outperformance for European equities be the start of a new trend? 
Tariffs and trade – the world won’t wait
Current anxiety surrounding global trade is understandable. However, the medium-term picture could be brighter. While President Trump may put up tariffs, we believe the rest... 
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