Commentaries

Timely market commentaries from leading investment firms

US Inflation Figures

Andrew Milliner, Global Bonds Portfolio Manager at Janus Henderson Investors, has put together the below comments in reaction to current U.S. inflation figures and what it means for the economy and markets moving forward. Please let me know if you have any questions or wish to further discuss with Andrew.

Taking Flight

The Northern Trust Economics team shares its outlook for the U.S. economy.

Why Munis Should Hold Their Shine Amid Higher Rates

Municipal bonds have held up well this year, despite rising interest rates and inflation. Munis’ long-term outlook is strong too. What accounts for their outperformance in today’s environment?

Note to Elon: Crypto Miners Are Part of the Solution to Curbing Greenhouse Gas Emissions

And just like that, Elon Musk has turned on Bitcoin.

US Birth & Fertility Rates Hit New Record Lows: Why?

The US Centers For Disease Control and Prevention reported last week that the US birth rate plunged for its sixth consecutive year in 2020. The US fertility rate also hit a new record low. Demographers are puzzled at this potentially troubling trend...

SPACs: What Are They, and Are They a Risk to the Market?

Special purpose acquisition companies (SPACs)—also known as blank-check companies—have gained immense popularity among investors since the beginning of 2020, despite being around for decades.

One Hot Economy, Two Burning Questions on Value and Income

The switch on the U.S. economy is readying to come fully “on,” more than a year after the global pandemic forced abrupt closures around the world and across industries.

2 Overvalued Tech Stocks Falling Faster Than You Think

The NASDAQ is falling as tech stocks begin to show cracks in their armor. Of course, according to Mr. Valuation the reason is simple – most tech stocks are overvalued.

Will COVID-19 Accelerate Euro-Area Integration?

Widespread lockdowns have resulted in record output declines and soaring debt across the euro area. But the political response to the COVID-19 crisis may be positive for the European integration project—and for euro-area bond markets.

Examining the Environment for Microcap Stocks

The smallest companies in the market may be overlooked by many investors, but can offer big potential. Here, we posed some questions about micro-capitalization (microcap) stocks to Franklin Mutual Series Portfolio Manager Oliver Wong, who explains how they have fared recently and where he’s finding opportunities.

Back to Business: Spending Surge Signals Demand

Global indicators continue to signal a sharp business recovery from last year’s COVID-19 pandemic lows. While inflation expectations are increasing as a result, business improvements offer multi-asset investors good reasons to remain tilted to equities for the next stage of the recovery.

Inflation: It’s Just the Start

To say that we were surprised by some of the discussion at the Berkshire Hathaway Annual Meeting would be an understatement. The conversation Warren Buffett and Charlie Munger leaned into on inflation was possibly the most interesting. Warren and Charlie gave large credit to Larry Summers for his willingness to stand alone on the effects of today’s fiscal and monetary policy on prices. We thought this was an ideal time review Buffett and Munger’s discussion and see what conclusions we could draw.

A Jumpy Market Waiting for The Fed to Move

Tracy Nolte talks AAM’s Outlook for Inflation, Fixed Income Market’s Outlook for Inflation, and Managing the Current Rate Environment.

The Fall of the Titans!

The performance of a market-cap-weighted index is driven by a handful of stocks with the largest capitalizations, but these stocks do not remain at the top for long. A smart beta multi-factor strategy is a good solution for investors concerned about the concentration risk of a passive market-cap tracker.

Biden and Powell Versus Summers and Dudley

One of the best economic debates that's happening right now isn't between Republicans and Democrats or liberals versus conservatives, it's between policymakers who want to go full steam ahead with as much fiscal and monetary "stimulus" as possible and center-left economists who worry about the economic effects of over-stimulating the economy.