NOW Ep110: US priced for perfection
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The US market is trading ~40% above fair value. What could cause those lofty valuations to deflate? This week on No Ordinary Wednesday, Chris Holdsworth, Chief Investment Strategist at Investec Wealth & Investment International, unpacks the key findings of Investec’s latest Global Investment View, highlighting risks for global investors and where opportunities lie outside the US, including: Europe is loosening fiscal policy to support growth, China is rolling out stimulus, with commodities rallying in response and in South Africa equities remain cheap with commodities and improving SOEs providing tailwinds.
Podcast key moments:
00:00 – Introduction
01:17 - The global investment strategy group keeps its global risk score unchanged
02:48 - What’s keeping valuations elevated in the US?
04:04 - AI driven investment providing a new growth engine
05:14 – Inflation risks in the US
05:41 - Why Europe and China look relatively attractive
07:18 – Why do SA risk assets remain cheap?
08:15 – Eskom, Transnet and the SA economy
09:44 - Local bonds have rerated
10:47 – What should investors be watching in the next 12 to 18 months
Read more on www.investec.com/now
Hosted by seasoned broadcaster, Jeremy Maggs, the No Ordinary Wednesday podcast unpacks the latest economic, business and political news in South Africa, with an all-star cast of investment and wealth managers, economists and financial planners from Investec. Listen in every second Wednesday for an in-depth look at what's moving markets, shaping the economy, and changing the game for your wallet and your business.
Podcast key moments:
00:00 – Introduction
01:17 - The global investment strategy group keeps its global risk score unchanged
02:48 - What’s keeping valuations elevated in the US?
04:04 - AI driven investment providing a new growth engine
05:14 – Inflation risks in the US
05:41 - Why Europe and China look relatively attractive
07:18 – Why do SA risk assets remain cheap?
08:15 – Eskom, Transnet and the SA economy
09:44 - Local bonds have rerated
10:47 – What should investors be watching in the next 12 to 18 months
Read more on www.investec.com/now
Hosted by seasoned broadcaster, Jeremy Maggs, the No Ordinary Wednesday podcast unpacks the latest economic, business and political news in South Africa, with an all-star cast of investment and wealth managers, economists and financial planners from Investec. Listen in every second Wednesday for an in-depth look at what's moving markets, shaping the economy, and changing the game for your wallet and your business.
Chapters
- 00:00 Introduction
- 01:17 The global investment strategy group keeps its global risk score unchanged
- 02:48 What’s keeping valuations elevated in the US?
- 04:04 AI driven investment providing a new growth engine
- 05:14 Inflation risks in the US
- 05:41 Why Europe and China look relatively attractive
- 07:18 Why do SA risk assets remain cheap?
- 08:15 Eskom, Transnet and the SA economy
- 09:44 Local bonds have rerated
- 10:47 What should investors be watching in the next 12 to 18 months
