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The Case for Macro

Our Dynamic Allocation Strategies team explains why global macro investing offers many potential benefits when included in an investment portfolio. Read More (PDF)

Emerging Markets Outlook for 2017

The past 12 months have been fairly turbulent in emerging markets, but a number of factors support emerging market performance.  Read More (PDF)

OPEC Cuts Production. Who Wins? Who Loses?

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Tom Clarke, portfolio manager on William Blair's Dynamic Allocation Strategies team, sat down with “Bloomberg Markets: European Close” to discuss the implications of OPEC cutting production for the first time in eight years.

OPEC's global significance is not as large as it was before and Clarke believes that despite the announcement, “impact on oil prices might not be that great.”

U.S. shale oil prices, currently in the $50-$65 range, will mostly likely fall over time due to new competitiveness, says Clarke.

He expects oil prices to remain in the $40-$60 range. Because of the abundance in supply, in part due to President-Elect Donald Trump's plans for pipeline infrastructure, and the stagnation of demand, that price is likely to fall over time.

In the short term, among commodity-sensitive currencies Clarke said, “commodity exporters are the relative losers…and the obvious big winners are oil importers like the Indian rupee.” But the Russian ruble, Brazilian real, and Mexican peso are fundamentally attractive (cheap) currencies, so they provide potential opportunities from a long-term perspective

See Tom Clarke on “Bloomberg Markets: European Close”

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