Sentiment-driven rallies can be powerful, but we do not yet see enough supports to sustain recent equity market gains.
When valuations reflect good news, risk is generally skewed to the downside. Investors beware: There is no shortage of good news in today’s market.
Recent events suggest the Fed has satisfied its appetite for delivering market-upsetting news—yet plenty of “hyenas” remain.
Is recent equity market volatility an overdone technical correction—or something more ominous?
This month, learn how a stable economic backdrop, well-communicated monetary policy and increasing earnings affects our outlook for stocks versus bonds.
Earlier this month, an uptick in yields rattled markets. Yet one source of volatility remains absent.
Differentiating between idiosyncratic and systemic risk is critical in the current market environment.
This month, learn how U.S. economic growth and the expected path of U.S. interest rates affect our outlook for stocks.
Our optimistic outlook for stocks presumes a continuation of the global expansion. Supporting the U.S. fundamental picture are a flat Phillips curve, high corporate free cash flow and lack of private sector imbalances.
We remain focused on our central theme of positioning portfolios to avoid downside velocity. Regarding trade concerns, this means reducing exposure to globally-oriented investment grade credits and monitoring emerging market opportunities.
The first half of 2018 has seen broad retrenchment from last year's strong returns and low volatility. But if fundamentals hold up the second half may be quite different.