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Blockchain – the beginning of a new technological revolution?

In the latest Risk & Reward magazine we discuss bitcoins and other cryptocurrencies, look at what makes blockchain technology so interesting and why a wide variety of industries are so fascinated by the long-term potential of cryptotokens.

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Adding upside potential to insurance portfolios

We look at how an ‘Equity Enhanced Fixed Income' approach could offer insurers an attractive return profile, while providing equity risk management capabilities. And importantly, it can be delivered in a capital efficient way.

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The Survivability of the Euro, Part I: Reform, Relevance and Robustness

Invesco’s Future of Europe series aims to address some of the most pressing questions surrounding the euro, the eurozone (EZ) and the European Union (EU), whilst also examining Europe’s troubled past, uncertain present and possible future. The second paper in the series, The Survivability of the Euro, comprises three parts, of which Reform, Relevance and Robustness is the first. In this paper we analyse the vital issue of imbalances between member states and explore the conflicts that they generate.

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Using factors for potential return enhancement

With expectations of a lower-return environment in the future, we explore how investors can position their portfolios using factors in an attempt to enhance performance.

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They say they want a revolution

The way market participants are investing is changing rapidly for many – on one side we see an increasing need for reduced costs, and on the other, value added is becoming ever more important.

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China’s Belt and Road Initiative – from increased commodity demand to shifting supply routes

Invesco Fixed Income expects China’s Belt and Road Initiative (BRI) to improve both regional connectivity and foster infrastructure development and economic growth, creating potential opportunities for bond investors. We explore the sectors that are likely to benefit the most from an increase in infrastructure spending and regional trade.

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US investment grade credit: a bubble or a buy?

Is the recent sell-off in BBB-rated bonds a sign of worse things to come, or has the market over-reacted? Are there stabilizing trends on the horizon?

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Balance sheet normalisation for US central bank

The balance sheet of the US Federal Reserve has expanded strongly in recent times due to the impact of quantitative easing. At some point, this process will need to be reversed. How will the US central bank go about shrinking its balance sheet and will it be disruptive to financial markets?

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The essence of L’Essence

The European equity team in Henley has been overweight the energy sector since late 2013. With renewed commodity weakness of late, why do the team continue to add to positions?

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Protectionism rears its ugly head again

With the US applying aluminum and steel tariffs to Canada, Mexico and the European Union, and exploring tariffs of up to 25% on imported cars, free trade is being threatened.

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Is it time to worry about a liquidity crisis?

Large-scale asset purchases by major central banks has added to the abundance of liquidity in markets, however the tide is now turning in the opposite direction. As balance sheet normalization accelerates, it seems likely that liquidity issues could accelerate too.

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What does a trade war mean for US macro fundamentals?

In recent weeks, the prospect of a global trade war has emerged more clearly and presents major consequences for global markets. While the implications are difficult to assess, a tightening of financial conditions could be strong enough to significantly curtail US growth.

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Five ‘swords of Damocles’ hang over markets

Global market are facing several issues, including the fast-approaching deadlines for another US government shutdown, a US-China trade deal, and Brexit.

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