Market Outlook
Market Outlook content
Market Outlook
Investors may revisit international exposure in their portfolios amidst reduced market reactions to tariff announcements, uncertain U.S. policy and lagging U.S. stock performance.
Market Outlook
Bouts of volatility may continue in the second half of 2025 as bond market investors navigate evolving tariff policy, U.S. government debt, and economic uncertainty.
Market Outlook
Continuing last year's trend, our 2025 outlook shows fixed income benefiting from high rates, while equities face a narrowing edge over risk-free investments.
Market Outlook
The U.S. economy and stock market are entering 2025 from a position of strength, but risks of volatility—especially pertaining to policy—are much higher compared to last year.
Bond Insights
Strong 2024 performance may be tough to replicate given tight credit spreads, but we still have a favorable view on corporate bond investments given the strong economy.
Bond Insights
We believe municipal bonds currently offer a compelling balance of risk and reward for investors in higher tax brackets.
Market Outlook
There's good news and bad news in the municipal bond market today. The bad news is that it has been the worst start to a year in more than 40 years. The good news is that the sharp selloff has created potential opportunities that largely haven't existed for 15 years.
During the second half of the year, we believe the muni market may present opportunities. We suggest that muni investors consider taking advantage of the recent selloff by moving up in both credit quality and coupon structure, and moderately extending duration if they have been investing in very short-term munis.