Disclaimer: Views in this blog do not promote, and are not directly connected to any Legal & General Investment Management (LGIM) product or service. Views are from a range of LGIM investment professionals and do not necessarily reflect the views of LGIM. For investment professionals only.
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China

Fixed income

Buying deep value is always scary

China’s high-yield bond market has been under incredible strain in recent months, with prices tumbling by nearly 40% since May. We’ve worked with our economists and LGIM’s high-yield team to determine whether this represents a deep value opportunity or trap.  
By Emiel van den Heiligenberg

Economics

Pe(a)king property

Last week, we laid out why we believe China is unlikely to be sitting on a property bubble that is about to deflate. But not everything is hunky-dory. Migration to the cities is slowing, and there are only so many decrepit homes to knock down. The trend seems towards less construction in future years.  ;
By Erik Lueth

Economics

Is China sitting on a property bubble?

Evergrande’s problems have placed the Chinese property sector front and centre of investors’ minds. The sector is undergoing a sizeable credit crunch, several developers have missed coupon payments, and home sales are down 38% year-on-year. How bad can this get? To answer the question, we look at the fundamentals of China’s property sector.  ;
By Erik Lueth

Fixed income

Evergrande and China’s property sector: an EMD manager’s perspective

With Evergrande continuing to dominate the financial headlines, we take a look at the situation and broader implications for emerging-market bond investors.  ;
By Uday Patnaik

ESG and long-term themes

China’s give and take

Policymakers appear happy to accept greater market volatility as they pursue macroprudential measures, which may also create room to meet climate targets.  ;
By Ben Bennett

Equities

China’s techtonic shift

What should investors make of China’s crackdown on its technology companies?  ;
By Lars Kreckel

Investment strategy

The Delta variant’s spread and the implications for risk assets

The measures that China may take to contain the COVID-19 variant could disrupt global growth. Markets don’t seem to be pricing this in.  ;
By Emiel van den Heiligenberg

Fixed income

Weighting game: China and bond benchmarks

We analyse the prospects of, and implications of, China’s corporate bonds entering global fixed-income indices.  ;
By Ryan Clatworthy

Commodities

Supercycle versus superpower

Rampant economic growth is typically bullish for commodities, but could this time be different?  ;
By Erik Lueth

Economics

China: seven things investors should know

From dealing with COVID-19 to the long-term economic prospects for its economy, we believe China is proving remarkably resilient.  ;
By Erik Lueth

Economics

Is China sticking to the trade deal with the US?

Agricultural imports provide an important insight into whether China is committed to the deal.  ;
By Magdalena Polan

Economics

Credit in China: a stress test you couldn’t have imagined

What has the crisis meant for debt levels in China?  ;
By Erik Lueth

Economics

Special situations: the US, China, and Hong Kong

What happens if the US withdraws Hong Kong’s special status?  ;
By Erik Lueth

Economics

US/China relations: no thaw in the new cold war

Not so long ago, the trade war between the US and China was the greatest geopolitical risk facing the market. COVID-19 has taken its place at the front of investors’ minds, but it hasn’t eased the underlying tensions – and may have exacerbated them.  ;
By Emiel van den Heiligenberg

Economics

Market turmoil: investing in testing times

Markets are volatile but we are steady in our ‘prepare, don’t predict’ approach.;
By Emiel van den Heiligenberg

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