Thoughts on the Market

We forecast a shorter and hotter business cycle than the consensus estimates, suggesting a move to mid-cycle portfolio positions earlier than expected.

Chief Cross-Asset Strategist Andrew Sheets and Biotech equity analyst Matthew Harrison continue their conversation, with a focus on international progress for COVID-19 vaccinations.

Chief Cross-Asset Strategist Andrew Sheets talks with Biotech equity analyst Matthew Harrison on dose availability, vaccine hesitancy and the timeline for herd immunity.

It may be hard for investors to conceptualize how substantial the impact of the American Rescue Plan Act may be, but three numbers provide perspective.

With the rapid recovery of the U.S. economy, it is possible that inflation will overshoot the Fed’s tolerances by as early as mid-2022.

After almost a year of extraordinary outperformance, could small caps could see more difficulties ahead as re-opening dynamics up the risk of cost pressures?

With global growth set to exceed expectations in 2021, emerging markets assets would appear set for outperformance. But this year, three factors cloud that narrative.

Conversations around the “Build Back Better” U.S. infrastructure plan are ramping up. What do investors need to know about its potential impact on markets?

Why the ongoing dynamics of trade, fiscal policy, taxation and geopolitical tensions mean investors need to focus on more than just the Fed and the business cycle.

Ahead of a possible re-opening, which companies might retain gains seen in the pandemic, which will revert to pre-COVID norms and which are mispriced?

The current correction may be driven in part by the rise in U.S. Treasuries yields, but Chief Investment Officer Mike Wilson still sees a bull market in the value and more cyclically exposed equity categories.

Do higher interest rates invariably lead to weaker equities and credit markets? The answer is a bit more complicated after factoring in economic optimism.

Home prices have been steadily climbing all across the U.S. How should Americans think about home prices, rising interest rates and affordability?

The stage is set for the Biden administration’s major infrastructure and environment initiative. Here's what investors need to know about the road ahead.

Although a shift to higher interest rates is noteworthy, historically, rising rates coupled with rising inflation may actually suggest better performance for some risk assets.

Which sectors could benefit from an era of rising inflation and higher interest rates? Chief Investment Officer Mike Wilson shares the outlook for investors.

Some traditional market aphorisms seem to have been in abeyance, but with bond yields rising, the old rules are starting to apply again.

What really happened during the Texas grid crisis and what does it say about the transition to clean energy and the future of utilities in America?

Although markets appear more confident that U.S-Mexico trade tensions are largely in the past, investors shouldn't discount potential risks.

Media and entertainment had a tricky 2020 with lockdowns pulling forward years of growth for some companies—and challenges to others. So, what happens now?

U.S. equities markets have continued to perform well, fueled by upbeat earnings and vaccination news. However, that’s often when surprises arise.

Whether the anticipated fiscal stimulus in the U.S. will be enough to push the economy into inflationary territory, and if we should be concerned about it, is a matter of much debate. Chief Cross-Asset Strategist Andrew Sheets discusses.

Recessions can create long-term scars on labor, investment and the pace of innovation. Is Europe more prepared to lessen COVID-related economic scarring than in past crises?

Concerns about the state of U.S.-China trade relations dominated investor thinking in 2018 and 2019. What’s the path forward for the Biden administration?

The scientific race toward quantum communication is already underway. A look at why the global space economy will be critical to its development.

Gold is sometimes perceived by investors as a good hedge against inflation, however its track record in this capacity is worth a closer look.

We dive into what’s ahead amid competing news headlines on the improving pace of vaccinations and worries over new variants.

Michael Zezas, Head of U.S. Public Policy Research and Matthew Hornbach, Global Head of Macro Strategy, discuss the impact of stimulus and inflation on fixed income markets.

If you’re not familiar with the concept of a high-pressure economy, now might be a good time to get acquainted. A new forecast for the U.S. economy.

Historically speaking, as goes January, so goes the year. Here’s why higher volatility and dispersion of returns between sectors and stocks may define 2021.

10-yr bond yields could rise by about 0.5% in 2021, but the potentially record amount of government bond issuance may not be the driver.

Two big stories are underway in oil and energy markets: changing supply and demand factors amid COVID-19 vaccinations and the impact of ESG considerations. We dive into both.

Republicans and Democrats are still far apart on the shape of a new fiscal stimulus bill, but that doesn’t mean a pathway to passage isn’t emerging.

What Asia tech trends should investors be watching in the year ahead? Shawn Kim, Head of Asia Technology Research, shares five key themes for 2021.

Although last week's market correction was long overdue (and perhaps not finished), two differences separate the tech bubble of 1999-2000 and the present.

A handful of heavily shorted stocks took markets for a bit of ride this week. Does it say something larger about the future direction of equities markets?

On this episode, we look at the evolution of U.S. consumer spending trends—and parallel investment themes—as COVID-19 vaccines roll out this year.

When it comes to the next round of U.S. fiscal stimulus, in the near term it may be the journey that moves markets, not the destination.

It’s hard to ignore that pockets of excess have developed in financial markets. While past is not always prologue, a look back at the global financial crisis and tech bubble of 1999 provides perspective.

Data on housing supply, demand, affordability and credit availability paint an optimistic picture for U.S. housing. We dive into the outlook for residential credit and agency mortgage markets.

Investors are keeping a worried eye on the pandemic, expensive stock valuations and potentially higher inflation. But even in these areas there may be cause for optimism.

As a Democratic administration takes the reins in the White House and Congress, what policy moves should investors expect?

Investors have become infatuated with the S&P 500, but a rotation to new leadership suggests a look toward stocks that have been off the radar.

As Congress and a new administration ponder new stimulus to navigate the pandemic, what will 2021 look like for FX and government bond markets?

Rising yields and inflation can create anxiety for investors, but the impact depends on why they’re rising. Chief Cross-Asset Strategist Andrew Sheets explains.

As vaccines continue to roll out and the world eyes a return to normal, several key themes are emerging that could shape investment returns.

Does a robust recovery in 2021 spell the end of European Central Bank action? One inconvenient fact may stand in the way: the lackluster rise in inflation.

Although 2021 is likely to be a better year economically, asset markets may not repeat the remarkable run of the past 9 months. So where should investors look?

Why a reflationary backdrop in 2021 could provide a boost to Europe’s cyclical value stocks. A look at the year ahead with Graham Secker, Head of the European and UK Equity Strategy Team.

Chief Cross-Asset Strategist Andrew Sheets explains why a Democrat sweep of Congress and the White House suggests more reflation and rotation in portfolios.