Andrew Pease is the global head of investment strategy for Russell Investments. He is responsible for the cycle, value and sentiment asset allocation framework that guides the tactical positioning of Russell Investments actively managed funds. Andrew oversees Russell Investments global team of investment strategists in Seattle, London, New York and Sydney. He is based in London and joined Russell in early 2006.
Andrew has extensive financial industry experience as an economist, investment strategist, fund manager and central banker. Prior to his current role, Andrew was Russell Investments Chief Investment Strategist for the Asia-Pacific region.
Andrew previously worked for the funds management division of Macquarie Bank, as the Chief Economist for JPMorgan in Australia and as the Australian head of research at Nomura Securities.
Andrew began his career as an economist at the Reserve Bank of Australia, where he gained significant experience in monetary policy formulation.
The Russia-Ukraine war adds to near-term growth risks for the global economy and will likely keep inflation elevated for longer. While uncertainty is high, equity markets are oversold and should recover if tensions ease in the coming months says Russell Investments’ global head of investment strategy Andrew Pease.
The Covid-19 delta variant, inflation and central bank tapering are unnerving investors. We expect the pandemic-recovery trade to resume as inflation subsides, infection rates decline and tapering turns out to not equal tightening.
The global economic reopening remains on track as Covid-19 vaccination rates climb. While rising inflation has become a concern, the spike in prices looks transitory so far. Ultimately, we still like the pandemic recovery trade that favours equities over bonds, the value factor over the growth factor and non-US stocks over US stocks.
Vaccines and US stimulus have the global economy on track for a strong rebound in the second half of the year. We expect the reopening trade to favour equities over bonds, the value factor over the growth factor and non-US stocks over US stocks.
The UK Chancellor, Rishi Sunak, announced his 2021 UK Budget with two significant goals: To provide support for households and businesses through the final stage of the coronavirus pandemic and to provide a roadmap for how the government plans to reduce the fiscal deficit over time and pay for pandemic support measures.
We believe that vaccine prospects are likely to make 2021 a year of global economic recovery. While markets have priced in a fair amount of the good news, more gains seem possible as corporate profits rebound and central banks remain on hold.
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