Brian Singer, head of William Blair’s Dynamic Allocation Strategies team, discusses two key macro themes that are pushing asset prices away from and towards fundamental values. Watch the video or read the recap below.

There are a number of macro developments out there that are actually themes that are pushing asset prices, whether they’re stocks or bonds and currencies, away from and toward fundamental values. There are two very important ones for us right now.

One is populism. Populism is an important theme because a populous stands for nothing. A populous stands against something, and it’s very hard for the markets to incorporate a rejection, a rejection that occurs in the political sphere. But, that influences asset prices, and because of that, we actually build that into our understanding of elections, things like the Brexit vote. It’s very important for us.

The second macro theme is central bank activities. Central banks have been manipulating interest rates for several years now. That means they’re manipulating asset prices. As the Federal Reserve begins now to raise interest rates, and presumably the ECB and the Bank of Japan will follow, we will enter a period where they’re trying to move out of that influence, and that’s going to cause asset prices and importantly, currencies, exchange rates, to move all around the world, creating opportunities for macro investors.

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Factual information has been taken from sources we believe to be reliable, but its accuracy, completeness or interpretation cannot be guaranteed. Investments are subject to market risk. Forecasts, estimates, and certain information contained herein are based upon proprietary research and should not be interpreted as investment advice, as an offer or solicitation, nor as the purchase or sale of any financial instrument. Statements concerning financial market trends are based on current market conditions, which will fluctuate.

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Copyright © 2017 William Blair & Company, L.L.C. "William Blair” is a registered trademark of William Blair & Company, L.L.C. No part of this material may be reproduced in any form, or referred to in any other publication, without express written consent.

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Please carefully consider the Funds’ investment objective, risks, charges, and expenses before investing. This and other information is contained in the Funds’ prospectus, which you may obtain by calling +1 800 742 7272. Read it carefully before you invest or send money. Investing includes the risk of loss.

Any statements or opinions expressed are those of the author as of the date of publication, are subject to change without notice as economic and markets conditions dictate, and may not reflect the opinions of other investment teams within William Blair Investment Management, LLC or the Investment Management Division of William Blair & Company, L.L.C.

This content is for informational and educational purposes only and not intended as investment advice or a recommendation to buy or sell any security. Investment advice and recommendations can be provided only after careful consideration of an investor’s objectives, guidelines, and restrictions.

Factual information has been taken from sources we believe to be reliable, but its accuracy, completeness or interpretation cannot be guaranteed. Investments are subject to market risk. Forecasts, estimates, and certain information contained herein are based upon proprietary research and should not be interpreted as investment advice, as an offer or solicitation, nor as the purchase or sale of any financial instrument. Statements concerning financial market trends are based on current market conditions, which will fluctuate.

William Blair does not provide legal or tax advice. Please consult your tax and/or legal counsel for specific tax questions and concerns.

Distributed by William Blair & Company, L.L.C., member FINRA/SIPC.

Copyright © 2017 William Blair & Company, L.L.C. "William Blair” is a registered trademark of William Blair & Company, L.L.C. No part of this material may be reproduced in any form, or referred to in any other publication, without express written consent.

Statement of Financial Condition | NMS Rule 605 & 606 | Business Continuity Plan | UK Stewardship Code
Cookie Policy | Social Media Disclaimer | Privacy & Security | FINRA’s BrokerCheck

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