This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Flood Of Liquidity Lowers Downside Risk To Global Economy, According To Standish

Stocks in this article: BK

















NEW YORK and LONDON, Oct. 9, 2012 /PRNewswire/ -- The flood of liquidity coming from global central banks has lowered the downside risk for the global economy, according to Standish Mellon Asset Management Company LLC, the Boston-based fixed income specialist for BNY Mellon.

Standish executives David Leduc, chief investment officer, and Thomas D. Higgins, global macro strategist, presented their views during a conference call today with clients and consultants. From a global macro prospective, Standish expects global economic growth of 3.3 percent in 2013, slightly below the consensus forecast of 3.6 percent.

"In developed markets, we are more pessimistic than the consensus on the United States due to the impending fiscal cliff," said Higgins.  "In emerging markets, we have downgraded our forecast for Asia because of weaker global demand.  However, we have upgraded our forecast for Latin America because of stronger domestic demand and higher commodity prices."

The Standish executives noted that U.S. credit markets historically have weathered low-growth environments relatively well. 

"Given the Fed's assurance that interest rates will remain low for a longer period of time, investors can expect to benefit from the additional yield of corporate bonds," Leduc said.  He added, "Peripheral European government bond yields still have room to fall if and when the European Central Bank begins buying their debt under the Outright Money Transactions Program."

Higgins cautioned that the markets still face the threat of volatility from the uncertain outcome in dealing with U.S. fiscal cliff and the timing of bail-out requests in peripheral Europe.

Notes to Editors:

Standish Mellon Asset Management Company LLC, with approximately $97.5 billion of assets under management, provides investment management services across a broad spectrum of fixed income asset classes. These include corporate credit (investment-grade and high-yield), emerging markets debt (dollar-denominated and local currency), core / core plus and opportunistic (U.S. and global) strategies.  Standish also offers full service capabilities in insurance and liability driven investing. The firm also includes assets managed by Standish personnel acting as dual officers of The Dreyfus Corporation and The Bank of New York Mellon.



1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,370.29 +174.87 1.02%
S&P 500 0.00 -2.75 -0.14%
NASDAQ 4,624.88 +58.7420 1.29%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs