Markets, economy, stocks, growth, global, fixed income, international, asset classes
Michael Cembalest discusses the aches and pains constraining growth around the world, the severity of these ailments, and the degree of contagion from emerging to developed economies.
Learn about the important topics covered in the Outlook and their potential impact on broader markets. Michael Cembalest touches on topics including: the global banking system, oil markets, the credit risk of US states and credit market liquidity.
Bond yields remain at or near historic lows around the world, leading to a substantial increase in the value of pension plan liabilities.
David Kelly, the Fed, interest rates
The S&P 500 could hit 10,000 by the mid-2030s
While tariffs remain a concern, the key issue is the degree—which we deem moderate—of U.S. recession risk. The current global backdrop makes the U.S. dollar unlikely to strengthen. Earnings growth expectations are modest, valuations are undemanding
In evaluating climate risk in a potential equity investment, we consider both the physical aspects of climate change and the implications of the ongoing energy transition to a low carbon economy.