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Eye on the Market 2021 Outlook: The Hazmat Recovery

Michael Cembalest’s views on what will drive markets and the economy in 2021, as well as the challenges we face that stimulus and vaccines can’t solve.

ALIGNING INVESTMENTS WITH VALUES

In a fast-changing world, sustainability is a growing concern for our clients. Many investors have twin goals: to generate returns, and to do so in a way that aligns with their values.

We are committed to incorporating the management of risks associated with environmental, social and governance (ESG) factors across our entire investment platform. For investors who want to express their values explicitly in their portfolios, we offer a broad range of sustainable investment capabilities.

EXPLORE OUR MOST POPULAR INSIGHTS

Guide to the Markets

The Guide to the Markets illustrates a comprehensive array of market and economic histories, trends and statistics through clear charts and graphs.

2021 Long-Term Capital Market Assumptions

Time-tested projections to help build stronger portfolios

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Eye on the Market

Eye on the Market offers timely commentary and views on the economy, markets, and investment portfolios from Michael Cembalest, Chairman of Market and Investment Strategy.

Global Asset Allocation Views 1Q21

The main driver of asset returns likely transitions from liquidity to growth in 2021. We maintain a pro-risk tilt, prefer cyclical equities, are neutral on U.S. large caps and in credit favor EM debt. We move duration from underweight to neutral.

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Global Equity Views 4Q20

Discover our insights into global equity markets, including investors' views on the greatest risks and opportunities in the face of the ongoing pandemic.

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Global Fixed Income Views 1Q21

Above Trend Growth remains our base case as vaccinations start and global reopening begins. Inflation is a risk but we think it would be short term. Our preferences include emerging market local bonds, investment grade bank credit, high yield bonds.

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Factor Views 4Q20

Factor performance was mixed, on balance, over the quarter with many factors following their recent trajectories. Fundamental factors generally underperformed; merger arbitrage had a strong quarter.

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