The Guide to the Markets provides an effective framework for communicating key market and economic issues to investors
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.
Improving credit fundamentals, light tax-exempt supply and robust demand have driven the strong performance of municipal bonds in 2019.
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.
Inventories tend to have a cycle of their own, growing and contracting several times over the course of an expansion.
An update from the front lines of the Trade War, with a focus on implications for investors
Michael discusses his forecast for 2020, which entails a modest recovery in global growth and profits after trade-war weakness in 2019.
There are things the government can try and fix during a pandemic and other things which it can't.
In this week's note, we take a close look at country and regional virus data, and examine the pitfalls of over-extrapolating trends that often reverse.
Armageddonists and the portfolio cost of fear, 2010-2019