“We are relatively shorter in the US and Germany; relatively more sanguine on the euro-zone peripherals; and pretty bullish on emerging market debt in local-currency terms – and that has been our position for several years,” he said.Nominal and real interest rates in the core developed economies will remain lower for longer than the market currently anticipates as central banks continue to “surprise” financial markets, as the Fed did recently with the decision to postpone ‘tapering’, he argued.Utermann emphasised the importance of this “surprise” element: one can get one’s bets about tapering wrong, he suggested, but one can confidently assume central banks will do what is necessary to surprise markets, based on their perception of current sentiment.That means continued ‘financial repression’, savers remaining disadvantaged, currency movements hurting investors in certain regions and no “massive sell-off” in developed market sovereign bonds.Despite this, Utermann said the risk of low returns and capital losses if investors wanted to exit positions meant Allianz Global Investors was not advising clients to hold these bonds.Despite “muted and fragmented global growth” and fear of tapering being replaced by fear of deflation, the policy environment will continue to favour risk assets.Equities will “probably earn their risk premium”, he said.“Equities have done substantially better than I’d have expected, despite stagnating earnings – we have seen a significant re-rating,” he added.“Dividends will continue to be an important driver of equity returns.”Utermann warned that the big Japan trade of 2013 might have run its course because the absence of a “real crisis” in the country would delay genuine structural reform of labour markets, in particular.“There is a limit to how big central bank balance sheets can grow, so investing in Japanese risk assets today looks to us like a trade on borrowed time,” he said.But the firm’s long-term bullishness on emerging market local currency bonds remains intact in the face of this year’s sell-off.“Tapering makes people concerned about renewed volatility in that asset class, but it should be a buying opportunity, not a time to sell,” he said.“We expect less volatility next time around because we feel a lot of this is in the price, now. That means the buying opportunity could be short-lived.” Andreas Utermann, global CIO at Allianz Global Investors, thinks central banks will surprise markets with looser-than-expected policy through 2014, keeping bond yields contained in an environment of “muted and fragmented” global growth.“I feel like I’m going through the financial markets equivalent of ‘Groundhog Day’,” Utermann said, name-checking the classic 1993 comedy in which Bill Murray lives through the same 24 hours over and over again, at a press conference in London following his firm’s Investment Forum in New York. “Our position for 2014 is essentially the same we had going into 2011, 2012 and 2013.”Some of that position is now looking a little more contrarian, however.Utermann warned against high exposure to risk assets in Japan and advised investors to buy into weakness in emerging market local currency debt.
Getting a kid committed to a brand before that kid is even out of diapers is a pretty brilliant move, and what little kid would not want a Harley Davidson “motorcycle” built just for them? I would have loved this as a kid.StaCyc launched in 2016 with two different models, the 12e and 16e. The 12e is a 12” frame and the 16e a 16” frame; slightly larger and more powerful, but each can be operated as a traditional push bike in no-power mode until the child gets a feel for how the bike acts. The smaller bike is for kids with at least a fourteen (14) inch inseam and the larger for an 18” inseam.The StaCyc website, though everything is listed as “sold out” (no doubt a process of the acquisition), has not only the whole bikes for sale but spare parts and upgrades available too.These bikes will be rebranded as Harley-Davidson and sold through the Harley dealer network. Harley is planning to have them available in the third quarter of 2019, so look for them starting in July or so. Plenty of time before the holiday rush!Ryan Ragland, Founder of StaCyc, says “After a few conversations with Harley-Davidson, we realized that the ethos of our brands and our commitment to bringing more riders to motorcycling were incredibly aligned. The opportunity to work with the team at Harley-Davidson and have the support to carry out our mission to create the next generation of riders is exciting. Together we’re building a plan that fast-tracks our ability to help the industry create as many riders as possible.”Though there is no word on the EDRIVE bikes’ pricing now that they’re Harley-branded, they were originally $649 for the 12” bike and $699 for the 16”.Anything that gets kids more interested in motorcycling is a good thing in my book.Source: StaCyc It’s a Harley for your toddler!When we all said that Harley Davidson needed to appeal to younger riders, this isn’t quite what we had in mind, but we’ll take it!Harley Davidson has acquired StaCyc, Inc., a company that produces “stability cycles” more commonly known as “push bikes” for kids. They are electric-powered two-wheelers made just for kids called “EDRIVE.”More E-Bikes Harley’s Senior Vice President of Marketing and Brand, Heather Malenshek, says “We’re thrilled to have StaCyc become part of the Harley-Davidson family. The StaCyc team shares the same vision we have for building the next generation of riders globally and we believe that together, we will have a significant impact in bringing the fun and enjoyment of riding to kids everywhere.” Watch New Harley Concept Electric Bike In Action So… About The Harley-Davidson LiveWire Source: Electric Vehicle News New Zero Motorcycles SR/F Specs Leave Harley-Davidson In The Dust Author Liberty Access TechnologiesPosted on March 10, 2019Categories Electric Vehicle News