Wealth

<em>Americas Watch:</em> May 2017
April was a notable month for political activity and uproar (the first round of the French election, North Korea’s provocations, and intraparty battles in the U.S. Congress, to take just three headline generators), but the U.S. economy wasn’t affected by all the...  more
<em>Asia Pacific Watch:</em> April 2017
“South Korea has been rightfully called one of the ‘tiger markets’ of East Asia, so ferocious has been its economic growth and expansion, as well as social progress and development, in recent decades,” Shane Taylor and Juliet Cha say in the April 2017 issue of Asia...  more
<em>Global Macro Outlook:</em> April 2017
Economics forecasting is a virtually impossible task, like trying to predict the position of a series of moving objects with incomplete information about all of them. The largest moving target, global growth, is often revised, and AllianceBernstein’s Global Research...  more
<em>Europe Watch:</em> April 2017
Cautious optimism in the face of daunting prospects characterizes the April 2017 issue of Europe Watch. Frank Aalbers and Esat Gueler recognize the seriousness of the U.K.’s leaving the E.U., the shaky status of some Italian banks, and the strength of right-wing...  more
<em>Americas Watch:</em> April 2017
As real estate investors survey the U.S. economy, the prospects for continued growth seem solid. Stocks have held on to most of the post-election gains, even after retreating a bit in March. And manufacturing looks good too. “The manufacturing sector, which had...  more
<em>Asia Pacific Watch:</em> March 2017
Developers are not likely to put their names on warehouses or other industrial properties, but the sector can reward careful investors. This is as true in the Asia Pacific region, which is expected to show healthy growth in 2017, as in developed markets. In the March...  more
<em>Global Economic Outlook:</em> March 2017
It may put their membership in the Dismal Science Society at risk, but AllianceBernstein’s Global Economic Research analysts believe 2017 will be a good year for economic growth. “We now expect the global economy to grow by 3.0 percent this year, up from 2.4 percent...  more
<em>Europe Watch:</em> March 2017
The financial crisis of 2008 hit Ireland hard and recovery was slow. After the economy bottomed out in 2009, growth was held back by a commitment to austerity as a recipe for recovery. Since 2015, though, growth has accelerated, to the point that Andrew Angeli...  more
<em>Americas Watch:</em> March 2017
Traders are supposed to hate uncertainty, according to one explanation that is trotted out when the stock market goes down. If that is the case, the various stock averages have no business setting records as they have over the past few months. Over in the political...  more
Economic forecasting: Is the business cycle flat?
For better or for worse, we live in The Age of Big Data and there is no going back. For consumers it is a decidedly mixed bag, with targeted ads following us around the Internet and personal details being collected at every click. For economists, it is a dream come...  more
Yellen signals higher official rates
At long last, the Federal Reserve has set forth a path to higher rates. Fed Chair Janet Yellen told Congress that believes economic conditions "warrant further gradual increases in the federal funds rate," the interest rate charged on loans to the largest banks. Wall...  more
<em>Asia Pacific Watch:</em> February 2017
Inflation is an elusive target, and not found everywhere. For instance, while price inflation is measurable—though relatively low —in the U.S., it dropped in China and India, according to CBRE Global Investors' Shane Taylor and Juliet Cha. Persistently low inflation...  more
<em>Global Economic Outlook:</em> February 2017
Keep the champagne on ice for now, but it looks like the global economy is on an upswing. Despite a chorus of bears and a high level of uncertainty, AllianceBernstein Global Economic Research believes there could be more good than bad news in 2017. “When we consider...  more
<em>Europe Watch:</em> February 2017
Key to the future of real estate investment in Europe is the impact of the United Kingdom's exit from the E.U., or Brexit, for short. Yet as wrenching as Brexit is expected to be, the effects don't seem to obvious yet, aside from currency traders selling pounds. As...  more
The only certainty is uncertainty
Ninety days from the election and just a few weeks from the inauguration, investors are getting a better picture of the new administration and what it might do. The enthusiasm that fuelled a stock market rally is cooling off as Wall Street realizes that...  more
<em>Americas Watch:</em> February 2017
A marathon session with Fractured Fairy Tales must have inspired Shubrha Jha and her fellow analysts at CBRE Global Investors last month. Looking at the sectors of the U.S. real estate market, they ask which is the fairest of all, as Snow White’s wicked stepmother...  more
National defense: Is another spending boom on the horizon?
The president’s campaign promise to substantially increase spending on defense has AllianceBernstein U.S. Economist Joseph Carson crunching the numbers and cracking the history books. Big dollars are involved, since “It would include modernizing U.S. nuclear weapons...  more
<em>Asia Pacific Watch:</em> January 2017
Australia attracts media attention every January with the playing of the tennis Open but real estate investors should be thinking about it year round. Although the island country is off the beaten track, there is much to recommend it. “Australia has been one of the...  more
What could change the benign nature of the business cycle?
The business cycle is a lot like the weather. It follows the same general path every year, but each season is different. And even with improvements in computer modeling, forecasting the weather is often not accurate. And the same is true of the business cycle...  more
<em>Europe Watch:</em> January 2017
Looking back on 2016, while the year was full of shocks and surprises, it turned out to be generally good for the bottom line. European commercial real estate, for example, did rather well. David Inskip and Simon Kristiansen of CBRE Global Investors call it a...  more
<em>Americas Watch:</em> January 2017
Many Americans were happy to see a new year begin, even though they did not feel a great change at 12:01 a.m. January 1. At least economic conditions are favorable, for which we can be thankful, and “Sentiment regarding the momentum of the economic expansion remains...  more
<em>Asia Pacific Watch:</em> December 2016
Outside Asia’s developed markets of Japan, China, and South Korea, real estate investors can find opportunities as well as some risky situations. On the plus side, Southeast Asia’s economies are expected to grow; a limiting factor is that they contain only 2 percent...  more
<em>Europe Watch:</em> December 2016
In a sea of turmoil (i.e., Europe), the Netherlands looks relatively calm. While not without its societal stresses—such as popular anti-immigrant politician and Trump fan Geert Wilders—the Dutch real estate market continues to appeal to investors. “The story of...  more
<em>Americas Watch:</em> December 2016
While Wall Street celebrates the coming Republican ascendance, some observers are waiting to see if change in Washington will accelerate economic growth. Count Shubhra Jha and her fellow analysts among the sceptics. “There’s a widespread sense that a unified...  more
<em>Global Economic Outlook:</em> December 2016
U.S. equity markets seem to have left fear far behind in favor of a targeted rally, piling into sectors that could benefit under a Republican administration. Cooler heads, though, including AllianceBernstein Global Economic Research, are not convinced. “Donald Trump...  more
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