In this episode, Michael Cembalest takes a look at the recent tariff announcements in the context of historical tariffs since 1900.
Michael discusses how he should have taken Trump at his word on tariffs, and the impact of the widening trade war on global growth and equity markets as proposed tariffs approach pre-war levels.
Over the past few weeks, futures markets have begun pricing in an increasing chance that the Federal Reserve (Fed) will cut interest rates at its July meeting. This has also been reflected in the cash bond market, where yields out to the 6-month maturity
Manager selection is one of three critical levers utilized in constructing J.P. Morgan's SmartRetirement target date funds.
The Fed halted tightening and propelled equities to their fastest recovery ever following a bear market. This decision was made despite the lowest unemployment rate in 40 years. Does that make sense? Also, a possible deal with China.
EM currencies have struggled when the PMI has been falling, and thus its equity returns have underperformed versus the U.S. and other developed markets.
Reaching for yield, which we define as buying bonds with wider spreads after controlling for sector and rating impacts, is a topic that frequently arises in the life insurance industry.