In the September issue of our monthly flagship publication, we feature:On the Record by Chief Investment Officer Tony Roth, where he shares his views on the resiliency of the financial markets amid political and social crises, including the resurgence of COVID-19 and waning vaccine effectiveness, China’s regulatory crackdown, and high U.S. inflation, among a host of other developments.
August 9, 2021—Last week’s jobs report was strong for the second month in a row and immediately prompted questions about how it may affect the Federal Reserve’s dovish posture. With 1.9 million combined jobs added in June and July, gross domestic product (GDP) surpassing the pre-pandemic peak in 2Q 2021, and inflation at the highest in decades, it’s natural to think the Fed would normalize policy soon.
July 30, 2021—In recent weeks sweeping regulations from Chinese policymakers in several industries have rattled investors and sent Chinese equities reeling. The MSCI China Index has fallen 31% since its February peak and 11% between July 26–27 alone (Figure 1). China’s hefty weight in the MSCI Emerging Markets Equity Index—over 34%—makes it impossible for an investor to ignore (Figure 1).
