Thoughts on the Market

As Congress debates aid for state governments, for investors, the principal concern is that a lack of additional federal aid might further depress state spending and drag on economic growth.

As some states begin to loosen quarantine restrictions, "stay at home stocks" may no longer be the place to be. Chief Investment Officer Mike Wilson explains.

Investment strategies tied to the business cycle are still relevant, especially as our key internal indicator shows the cycle has moved into a new phase. Andrew Sheets, Chief Cross-Asset Strategist, makes the case.

Congress has readied more funds to support U.S. businesses and households in order to shorten the pandemic-induced downturn. How far will they go? Chief U.S. Economist Ellen Zentner and Head of Public Policy Research Michael Zezas discuss the scale of the stimulus and its limits.

Congress has readied more funds to support U.S. businesses and households in order to shorten the pandemic-induced downturn. How far will they go? Chief U.S. Economist Ellen Zentner and Head of Public Policy Research Michael Zezas discuss the scale of the stimulus and its limits.

Although it remains to be seen how fast the U.S. can “re-open,” in the near term, markets may be betting on an economy that will normalize faster than feared.

The steep decline in oil prices is a fascinating story of demand, supply and even game theory. But Chief Cross-Asset Strategist Andrew Sheets says that story could reverse next year.

Emerging markets recovered quickly from the 2008 financial crisis, but could a more challenging backdrop in 2020 mean a different outcome this time? Insights from Chief Economic Adviser Reza Moghadam.

For investors in municipal bonds, the Fed’s recent creation of the Municipal Liquidity Facility and Mainstreet Lending Facility are a key positive. Head of Municipal Strategy Michael Zezas explains why.

When do we return to work? The market reaction? The drug pipeline? Chief Cross-Asset Strategist Andrew Sheets and Head Biotech Equity Analyst Matthew Harrison continue their discussion on the impact of the Covid-19 pandemic.

If there is one lesson to be learned from the financial repression era it's that when risk premium appears, investors may want to make moves before it evaporates.

How do you track a virus, a global economy and a road to recovery? On this special episode, an engaging conversation with our Chief Cross-Asset Strategist and Head Biotech Equity Analyst.

The U.S. Congress has been debating ways to flatten another worrying curve: the sliding economic growth curve. What form could additional fiscal stimulus take?

Asset prices often reflect the obvious before it becomes obvious. So the question for investors now is, "What is the market thinking about that's not obvious?"

Even as economic and public health data get worse, recent changes in three key factors make global credit markets an attractive option. Our Chief Cross-Asset Strategist, Andrew Sheets, explains.

The $2 trillion CARES Act includes a variety of provisions that will help preserve the financial health of state and local governments, hospitals and airports. Here’s what’s inside.

Although economic and earnings data could be gloomy over the next month, have equity markets already discounted the bad news? Detailed analysis from Chief Investment Officer Mike Wilson. 

Governments and central banks face two issues: A flight to liquidity and a global economy that showed signs of fatigue even before the pandemic. For investors seeking opportunities, it’s an important distinction.

As a record 3.28 million workers file for unemployment, our Chief U.S. Economist and Chief U.S. Public Policy researcher weigh potential effects from the fiscal package now before Congress.

Congressional leaders have reached a deal on a $2 trillion stimulus bill to deal with fallout from the coronavirus crisis. Will it work? Two criteria to watch for.

Mike Wilson looks beyond the coronavirus outbreak at the two key conditions which have made the markets vulnerable to a recession.

On this episode, Chief Cross-Asset Strategist Andrew Sheets says that the 4%+ swings in equities markets have made investors skeptical about jumping back in. More U.S. testing could help.

Although the sell-off may not be over and the global economy has tough days ahead, a growing number of factors suggest that risk/reward in markets may be getting better.

As central banks and governments weigh a litany of stimulus efforts, what could the journey to economic recovery look like? Our Chief U.S. Economist and Head of U.S. Public Policy Research sum up the debates.

When markets get volatile, strange things start to happen in markets you might not expect. That's both a sign of stress, and in some cases, a sign of opportunity.

Just three months ago, market expectations were likely overoptimistic. That's how tops are made. Today, they are maybe too pessimistic… and that's how bottoms are made.

Although current market swings suggest that we are in serious, unpredictable times, a look through market history may reveal where we’re headed next.

The dual challenges of the coronavirus and the collapse of the OPEC plus arrangement intensifies the need for a fiscal response from Washington. Head of Public Policy Research Michael Zezas explains.

Investors reacted strongly as oil prices and coronavirus worries disrupted markets. Chief Cross-Asset Strategist Andrew Sheets and Chief U.S. Economist Ellen Zentner debate what’s next.

The recent correction in equity markets suggests that the fourth quarter rally in 2019 may have been a false breakout—and the rolling bear has unfinished business.

Two competing forces—hopes for further central bank moves vs. coronavirus uncertainty—are driving a notable rise in volatility. What signal should investors watch for signs of a potential rebound?

From an investment standpoint, are there lessons to be learned from Joe Biden’s strong showing on Super Tuesday? Yes, but not the ones you might think.

U.S. stocks fell Tuesday despite a half point rate cut by the Fed. Is conventional wisdom wrong that lower interest rates and central bank support are positives for stocks?

Global equity markets have endured several days of losses as worries over the coronavirus continue. The question for many investors is “What to do now?”

Markets have spent the week increasingly concerned about the coronavirus, but Chief Investment Officer Mike Wilson says there’s a lot more going on beyond the headlines.

Senator Bernie Sanders’ recent primary wins are causing some to debate the impact of potential new health care reform on markets. Head of U.S. Public Policy Research Michael Zezas shares three insights.

In a world of low interest rates and low growth expectations, one portfolio strategy seems likely to continue working for investors. Chief Investment Officer Mike Wilson explains.

Although current stock market performance suggests strong economic health, below the surface the story looks a bit different. Chief Cross Asset Strategist Andrew Sheets explains.

On today's episode: The impact of the coronavirus underscores the risks of unexpected disruptions of global supply chains. A look at the cost-benefits of globalization.

On today's episode: Investors are faced with a number of uncertainties from public health concerns to trade to central bank policy. But as the year plays out, those uncertainties could actually grow.

On today's episode: With no shortage of pundits weighing in on the Democratic primaries, it’s easy for investors to lean on assumptions. But Head of Public Policy Research Michael Zezas suggests some caution.

On today's episode: The recent, relatively small, overall market correction masks more significant shifts between asset classes. Mike Wilson, Chief Investment Officer, on the implications for our understanding of market optimism and future growth. 

On today's episode, Discussions about financial markets often center on issues of demand. Andrew Sheets takes a look at the supply trends that may impact debt and equity markets globally in 2020.

On today's episode, Recent events have added little clarity to the policy choices U.S. voters will face in the November presidential elections, but that won't last forever.

On today's episode, U.S. equities face concerns over global growth—caused by the coronavirus and other catalysts—but plentiful liquidity from the Fed. Thoughts on positioning from Chief Investment Officer Mike Wilson.

On today's episode, To understand the impact of the Coronavirus on humanity, economics and markets, Chief Asia and Emerging Markets Equity Strategist Jonathan Garner draws parallels with the 2002 SARS outbreak.

On today's episode, Nations try to address the public health impact of the coronavirus alongside uncertainty about the global outlook for 2020. Perspective from Andrew Sheets, Chief Cross-Asset Strategist.

On today's episode, Only a decade ago, market analysts and political observers were saying sovereign deficits were bad. Cross-Asset Strategist Andrew Sheets explains why that view may be changing.

On today's episode, Although the U.S and China have found a way forward on trade negotiations, a clear path for U.S.-EU trade is getting slightly more complicated.

On today's episode, Skepticism was the prevailing investor attitude for most of 2019, but what a difference a quarter can make. So what changed? Chief Cross-Asset Strategist Andrew Sheets talks changing sentiment as 2020 kicks off.