Highland Associates @Highland_Assoc

Fundamental and market-based data indicators are becoming mixed as current events and policy changes impact each in different ways. Click below to read our thoughts on the current market environment and portfolio positioning. highlandassoc.com/asset-allocati…

It is too soon to know how long the situation in Ukraine may last, if it will spread, or how it ends. In the interim, we can expect considerable volatility in the economy and financial markets. Click below to read our thoughts on the current environment. highlandassoc.com/asset-allocati…

The situation in Ukraine has introduced new risks that the market is working to digest. For investors, it can be tempting to migrate to the extremes. So what has happened, what could happen, and what does it all mean for your investment portfolio? highlandassoc.com/ukraine-update/

While recovering supply chains coupled with robust consumer demand paint a picture for continued growth, this view comes with a thick layer of uncertainty. Click below to read our outlook on the current environment. highlandassoc.com/asset-allocati…

While COVID concerns and policy shifts have rattled markets recently, we believe inflation is the biggest risk confronting allocators today. Sustained inflationary pressures like wage hikes could take the baton from more transitory inflation drivers. highlandassoc.com/asset-allocati…

While we’ve seen a robust recovery in demand since the trough of the COVID crisis, strong demand is running into supply-side challenges. We don't anticipate these challenges derailing growth, however it could represent a key theme for allocators near term. highlandassoc.com/wp-content/upl…

Highland recently hosted a webinar entitled “Intersection of Innovation and Investing.” Speakers highlighted the challenges and opportunities for healthcare organizations in what has been a demanding environment. Click the link below to read the recap. highlandassoc.com/wp-content/upl…

While the domestic growth and inflation mix has deteriorated over recent months, we’re still constructive on the macro and market outlook. However, that comes with a caveat: Policy uncertainty could drive volatility through year end. highlandassoc.com/wp-content/upl…

We’re optimistic current outbreaks won’t derail favorable early-cycle trends. However, short term, Delta could certainly lead to more supply constraints, making a soft landing from today’s peak growth and inflation environment harder to achieve. highlandassoc.com/wp-content/upl…

While we expect growth and inflation will moderate near term, we believe this represents a downshift, not a stall out. This economic cycle could still deliver faster growth and inflation than we saw over the last decade. highlandassoc.com/wp-content/upl…

While much of today's inflation is transitory, the likelihood of sustained inflation has increased. Preserving purchasing power is especially important for healthcare entities because inflation impacts both the investment portfolio and operating costs. highlandassoc.com/wp-content/upl…

As the Biden administration’s agenda comes into focus, we’re monitoring potential market implications. If components of the AJP and AFP proposals are pushed through Congress, we could see faster growth, tighter labor markets, and hotter inflation. highlandassoc.com/wp-content/upl…

Highland believes real assets play two roles in portfolios: protecting investors from inflation shocks and preserving purchasing power. Both roles are significant, but emphasizing total returns over sustained inflationary regimes may be more timely today. highlandassoc.com/wp-content/upl…

While headline growth and inflation could peak this summer, we think broader trends toward healthy early cycle growth and higher inflation have staying power. That reflationary rotation outlook supports our constructive view on risk assets. highlandassoc.com/wp-content/upl…

While most healthcare systems rushed to raise liquidity in March 2020, many now find themselves flush with liquidity. Federal stimulus coupled with the extended time to repay CMS Advanced Payments has provided hospitals greater flexibility and opportunities for additional yield.

While index-level volatility has been muted, we’ve seen rotations in equity market leadership across sectors, styles, and themes. Recent trends have had one thematic through line: Investors are embracing reopening, recovery, and reflation themes. highlandassoc.com/wp-content/upl…

For real estate investors, 2020 was a tale of two cycles. Defensive property types proved resilient, while the retail sector was heavily impacted. The current environment could lead to industrial and multifamily outperformance while weighing on the struggling retail sector.

U.S. equity markets have long priced in a healthy recovery. However, treasury markets have been slower to reflect that outlook. Today, treasury markets are starting to play catch-up with equities and other risk assets. highlandassoc.com/wp-content/upl…

Pent-up consumer demand and additional stimulus could drive real growth and inflation up, recapturing much of last year’s lost ground. This could hold implications for equity market leadership across sectors, styles, and regions. highlandassoc.com/wp-content/upl…

The COVID-19 driven economic crisis brought forces shaping the real estate landscape into focus. While the asset class faces challenges in the short-term, growing themes could create attractive opportunities for investors within private real estate. highlandassoc.com/wp-content/upl…