Economic and Market Research
Valuable Insights & Opportunities
The latest research, data, and insights from the investment experts at Key Private Bank.
Key Private Bank Investment Brief
The global spread of COVID-19 has caused significant market movements and uncertainty among investors.
Your investment brief houses our experts' latest analysis and strategies for navigating the turbulence created by the outbreak—keeping you updated on our thinking and how these changes might impact your portfolio.
Key Questions: Is the Bounce in European Equities Believable?
Over the past several years, European stocks have trailed their US brethren by a considerable margin. This underperformance trend extended into 2020: European equities lagged US equities by a full ten percentage points from the beginning of the year through mid-May.
Key Questions: Has Irrational Exuberance Returned?
Exuberance is evident, and while not all of it is irrational, some investors may be overly confident of the long-run economic outlook.
Key Questions: You Bought Which Stock?!
I want to introduce you to my long-time friend Pete. Pete is a good guy and knows a lot about a lot of things, which makes him a great conversationalist and a fun person to be around. Professionally, Pete earned his engineering degree from a leading university and has enjoyed a successful career in the healthcare sector.
Key Investment Perspectives: June 2020
Financial markets continued to rally in May, driven by widespread investor optimism. Massive government stimulus measures around the world are providing much-needed economic support, and the gradual reopening of the global economy has begun as the virus case curve has started to flatten. Potential COVID-19 treatment options are emerging, and a coronavirus vaccine could be available before the end of the year.
Key Questions: Wait... What Happened to the Payrolls Report?
Last week, it was revealed that US payrolls in May increased by 2.5 million. Ahead of the announcement, forecasters were anticipating that payrolls would decrease by roughly 7.5 million, translating into a forecasting error (albeit a positive error) of approximately 10 million jobs.
Key Questions: Will US Interest Rates Fall Below Zero?
In the past two months, the US Federal Reserve (Fed) has unveiled a veritable alphabet soup of programs designed to support the economy. These measures include outright bond purchases as well as credit facilities to support both the municipal and corporate credit markets.
Key Questions: How Do We Come Together When Told to Remain Apart?
After many weeks of closures and stay-in-place orders, cities, states, and countries are reopening. The rate at which this is occurring is uneven. The outcomes are uncertain, prompting angst on two sides. In one camp, there are "the restarters" (those who assert that the cost incurred by keeping the economy closed is too high), and in the other, there are the "quarantiners" (who believe that the health risks outweigh the economic ones).
Key Investment Perspectives: May 2020
April brought a seemingly unending stream of bad economic news with it. Soaring unemployment more than wiped out all of the employment gains since the Great Recession ended 11 years ago. The nation’s GDP plunged, consumer confidence recorded its largest decline in more than 40 years and manufacturing activity fell deeply into contraction territory.
Key Questions: Will Outperformance in ESG Investing Last?
ESG investing is not a fad. Sustainability of the approach is strong and good performance should continue. Embracing its benefits to portfolios and society overall, positions you well within our new world.
Key Questions: Are Municipal Bond Investors Justly Concerned?
With all of the stress on municipalities caused by COVID-19, it’s important to remember not all are created equal. Some municipalities will manage the crisis well, while others will struggle.
Demystifying Hedge Funds
While hedge funds have been around since the 1940s, there is still an air of mystery about them for many investors — and a lot of questions. What do they do? Who may invest in hedge funds? How well do they perform? How do they fit in a portfolio?