Viewpoints from Epoch Investment Partners
Manager of a unique equity strategy that seeks strong risk-adjusted returns by emphasizing companies that generate growth of free cash flow, the intelligent use of that cash flow, and strong management teams with a track record of delivering returns to shareholders, such as cash dividends, share buybacks, and debt reduction
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Three recent market reversals and what they mean for shareholder yield strategies
Changing equity markets have turned headwinds into tailwinds for shareholder yield strategies, which seek to capture dividends, share buybacks, and debt repayments.
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Fiscal policy and the threat of global recession
Does COVID-19 require a different policy response than the Global Financial Crisis? We explore the need for big fiscal stimulus, not just monetary measures.
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2% Treasury bond yields: implications for equity investors
With 10-year U.S. Treasury bond yields recently sinking below 2%, attractive investment options have narrowed. A look at how we got here, the yield outlook, and income opportunities from stocks.
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Trump, tech, and trade
Corporate earnings could be at risk if the Trump administration decouples the U.S. supply chain from China as the countries compete for economic leadership.
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Higher rates and protectionism will shrink manufacturers' profit margins
The dramatic increase in manufacturers’ profit margins over the past quarter century may be nearing an end, as rising interest rates and trade tensions weigh on the sector.
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What's spooking the markets? Trade wars and fiscal imbalances
The risks of a global trade war and a worsening U.S. budget deficit could trigger volatility for stocks and bonds in late 2019—especially when rising interest rates are factored in.
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Growing free cash flow: the key to sustainable equity shareholder yield
Some yield-oriented equity strategies focus on buying stocks with high dividend yields. However, the emphasis should be on dividend sustainability and growth; the shareholder yield investor can’t simply set it and forget it.
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Dividend stocks: a source of value in today’s richly valued market
Dividend-paying stocks hold unique appeal in today’s valuation-rich global equity market, given their record of generating above-average performance with below-average volatility relative to the broad market.
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The technology stock rally has an open road ahead
While valuations look somewhat overextended, this year’s rally for information technology stocks may have more room to run, as we expect the sector to continue to drive solid earnings growth.
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U.S. optimism, European skepticism: a spring of misplaced market expectations
U.S. market expectations appear to be overly optimistic, while the pessimism in the European equity market doesn't reflect improving economic fundamentals.
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