Michael Cembalest analyzes the performance of over 6,700 domestic and international active equity managers, and discusses the challenges they face outperforming at a time of markets distorted by quantitative easing.
Updated each quarter, the Guide to the Markets illustrates a comprehensive array of market and economic trends and statistics.
The food fight between the President and the Fed Chair could result in too much easing, and the expansion of valuations beyond sustainable levels. The other food fight: leveraged loan issuers vs buyers. Issuers are winning this fight hands down due.
The S&P 500 could hit 10,000 by the mid-2030s
This weekly update provides a snapshot of changes in the economy and markets and their implications for investors.
Emerging Market Equity Views : Favorable global cycle and USD outlooks create a positive environment
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
The length of the coming recession depends on the monetary and fiscal response. With market technicals proving challenging, do current valuations compensate investors for increased default risk?
Two things we said we needed – fiscal stimulus from the US government and corporate bond purchases by the Federal Reserve (Fed) – have now happened. Does that mean it ‘s time to start buying corporate bonds and, if so, how far down the quality spectrum?
Concerns remain heightened around both the spread and the economic repercussions of the COVID-19 virus. We assess the gamechangers to the situation over the past week, and what it would take to stabilise markets.
Risk markets have taken a turn for the worse as coronavirus spreads outside of China. Valuations are lower, but do they compensate investors for the increased risks to global growth and corporate fundamentals?