Market Commentary

Timely takes on markets and the economy.

Market Commentary content

Bond Insights

Major central banks are hiking interest rates rapidly and shrinking their balance sheets in an effort to "normalize" policy. The question hanging over the market is, "What is a normal policy rate?"
Market Commentary

The world’s second-largest economy and consumer market has likely slipped into a recession, at least by China’s standards.
Market Commentary

Another burst of market volatility has confirmed that the peak in negative economic consequences—courtesy of tighter policy and slowing growth—is likely still ahead of us.
Market Commentary

Consider hedging the possible risk of higher interest rates with the addition of short duration stocks, a potential way to manage risk while remaining invested in the markets.
Market Commentary

With inflation running at a 40-year high, and the Fed having embarked on a rate hike cycle, the burning debate is whether the slowdown ends in a soft landing or a recession.
Sector Views

The energy picture is anything but clear. There are numerous scenarios that could result in much higher or lower oil prices. Until there is more clarity, we think it's prudent to maintain a market-weight Energy sector allocation.
Market Commentary

Politics may have little impact on economic globalization or corporate profits—which gives little reason for investors to deglobalize their portfolios despite the headlines.
Market Commentary

Stocks have enjoyed a relief rally of late, but conviction is lacking as the rebound has disproportionately favored low-quality segments of the market.
Market Commentary

The geopolitical impact on earnings, the most important driver of stock prices, has remained modest so far; global companies appear to be on a path for earnings growth in 2022.

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