Market Updates
December 9, 2024
With investors hesitant to deploy excess dry powder amid concerns about changing markets, portfolio construction must reckon with rising geopolitical risks and attendant policy preferences. Meanwhile, U.S. bond markets continue to look solid.
December 2, 2024
Corporate profits, artificial intelligence and U.S. consumer confidence stood out in the Q3 earnings season. Heading into 2025, policy changes reinforce our preference for U.S. equities and housing could prove to be a bright spot.
November 25, 2024
Cautious optimism should prevail for peak retail sales season and the macro growth trajectory in 2025. However, defense, China, deficits and money markets will bear watching as the investment landscape evolves in the year ahead.
November 18, 2024
Rich valuations skew the risk-reward equation to the downside for high-yield spreads. Meanwhile, the hukou system remains a drag on Chinese consumption and growth — and weaker Chinese demand plus a growing supply outlook could weigh on oil prices.
November 12, 2024
The election results could amplify an already-strong fiscal and monetary policy impulse, but it's not all clear sailing for the markets. Whatever the macro shifts look like, however, the Artificial Intelligence arms race is shaping up to be expansive and expensive.
November 4, 2024
Macro evidence doesn't fit a late-cycle pattern, offering yet another puzzle for investors already assessing earnings, the election and potential Fed moves. Also, early movements suggest private sector support for a nuclear power renaissance.
October 28, 2024
Despite a spike in 10-year Treasury yields and renewed risks of inflation, encouraging economic factors and positive investor sentiment have prevailed. Taking the long view, we believe the U.S. economy remains the most dynamic and resilient in the world.
October 21, 2024
As the year draws to a close, markets face economic and geopolitical risks in the context of a contentious U.S. presidential election. Still, a variety of reasons suggest Value-oriented Equities may still be a sweet spot.
October 15, 2024
Strong economic factors support strength in Equities, reinforcing our view that the September rate cuts are likely more about fine-tuning policy than battling a recession. Also, how generative AI may support a positive backdrop for the Utilities sector.
October 7, 2024
A robust economy, dominant dollar and reflationary fiscal policy reinforce our preference for U.S. assets over international choices as geopolitical conflicts and supply chain pressures grow. Also, what Fed policy could mean for small-caps.
September 30, 2024
This week we explain why investors need a more nuanced view of the U.S. Consumer given they are the pulse of the U.S. economy – and in our view, remains solid. We also review Emerging Markets and Europe amid the new fed easing cycle.
September 23, 2024
We believe the economy and markets give little support for the Fed's belief that policy is restrictive. While investors continue to think twice when it comes to China, foreign investors have shown a remarkable penchant to “Buy America" over this century.
