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Capital Market Outlook

Your resource for the latest thinking from our experts on the markets and economy in the coming year and beyond

April 12, 2021

Reflation Tailwinds Also Give Boost To Oil Prices

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A high correlation with inflation favors energy stocks as potential defense against the declining value of money. The geopolitics of U.S.-China relations remain key to market expectations and returns. American Exceptionalism, with a Caveat.

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April 5, 2021

The Market Balance Sheet

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In our view a clear-eyed understanding of the bull and the bear cases may aid key portfolio decisions. After the Suez Saga: Implications for a Globalized Economic System. What Divergent Transatlantic Growth Means for U.S. Investors.

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March 29, 2021

Helicopter Money Delivers Escape Velocity

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If nominal growth continues to move higher, zero interest rates could become more stimulative and inconsistent with well-anchored inflation expectations. We’ve drafted our four picks we suspect will likely provide support to markets and the economy over the year. Renewables have the power for a comeback.

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March 22, 2021

Dollar Trends For Investors To Watch​

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The dollar has near-term support but the fiscal debt binge raises some concerns in the absence of fiscal discipline for the longer-term. April 2022: A glimpse of the post-pandemic world. Value’s Comeback Story.

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March 15, 2021

Too Much Of A Good Thing?

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The sharp rise in long-term interest rates has caused the S&P 500 index rally to pause while portfolios position for a higher growth and inflation outlook. How markets have moved since the start of the coronavirus outbreak. Is Bond/stock correlation unlikely to remain positive on a long-term basis?

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March 8, 2021

Rising Millennials Should Keep The Secular Bull Running

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Despite long-term demographic challenges, the rising millennial generation should support economic growth and inflation. The coming super-cycle in infrastructure spending. Integrating a gender mandate into investments is more timely than ever.

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March 1, 2021

Japanese Equities: Unloved and Under-owned

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Japanese Equities: Unloved and Under-owned. “Sell the News": Fourth-Quarter Earnings Review. And investors are beginning to evaluate whether higher and steeper yields might impede the attractiveness of stocks.

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