March 26, 2021—We are currently overweight emerging markets equities—including Chinese equities. Four pillars support our position. First is our view that the vaccines have prompted a cyclical rally that is, in general, constructive for global equities. Second, we believe emerging markets will see faster economic growth than developed markets. Third, the Asia ex-Japan region, including China, has so far successfully managed the COVID-19 crisis, in our opinion.
While the stock market ran hot for much of the second half of 2020 to date, the bond market has been mostly on ice. In fact, last summer we saw the 10-year Treasury yield plunge to levels not seen since 1786. Yet, yields have recently begun to surge.
March 23, 2021—If your business employs family members, or if you are thinking about hiring relatives for the first time, consider the benefits of a family business employment policy. Not only can a well-thought-out policy lead to greater family harmony, but it can set up your employees—and your business—for greater success as well.