November 14, 2019 Energizing Europe: Regional Markets Show Signs of Recovery by Nicholas Davidson European stocks have outperformed US equity markets in recent months, after several years of underperformance. Is this the start of a longer trend? It’s too soon to say, but some unfolding developments could signal a reversal of fortune for a long-unloved asset class. Equities Likes 0 SHARE Bookmarks
November 13, 2019 Fed Next Steps: What’s Likely, What’s Not by Eric Winograd The Fed has signaled it is unlikely to cut interest rates again in December, but we expect further rate cuts next year. We believe the Fed has not yet done enough to protect the economy against headwinds. While we don’t forecast a US recession, we think additional monetary policy easing will be needed to stabilize growth. Economics Likes 0 SHARE Bookmarks
November 12, 2019 This Is No Time to Ditch Duration by Erin Bigley It’s easy to overlook government bonds today with yields so low. But their interest-rate sensitivity, or duration, can provide vital protection when riskier assets such as stocks and credit struggle. Fixed Income, Later in the Cycle Likes 0 SHARE Bookmarks
November 11, 2019 ESG: A Key Component of Quality Companies by Mark Phelps Today, ESG issues may be more prominent in investors’ minds and approaches, but quality investors have been asking these questions for some time. Later in the Cycle, Responsible Investing/ESG Likes 1 SHARE Bookmarks
October 31, 2019 In a Post-Cycle World, Earnings Growth Is King by Mark Phelps Investors are increasingly asking whether the macroeconomic growth cycle still exists, and, if so, where are we in it? The answers to these important questions have real implications for the way equity investors should think about their portfolios. Equities Likes 1 SHARE Bookmarks
October 25, 2019 Are Private Equity Blowouts Good for Stock Investors? by James T. Tierney, Jr., Tiffany Hsia There’s growing evidence that private equity markets are beginning to overheat after several high-profile IPO flops. Investors in stocks should pay attention because private funding troubles are also a very public market affair. Equities, Responsible Investing/ESG Likes 1 SHARE Bookmarks
October 24, 2019 A High-Income Survival Guide for Late-Cycle Markets by Gershon Distenfeld, Noelle Chiang It’s easy to get spooked in late-cycle markets. But we think there’s a way to de-risk your portfolio and still generate a decent level of income—no magic spells necessary. Fixed Income, Later in the Cycle Likes 1 SHARE Bookmarks
October 22, 2019 Four Signals that Could Point to a Bigger Value Rebound by Kurt Feuerman, Robert Milano US value stocks staged a strong recovery in September after an extended period of underperformance. While value slipped again in early October, we’re monitoring four signals that might indicate whether we’re on the cusp of a bigger value rebound. Equities Likes 1 SHARE Bookmarks
October 21, 2019 Investors Need Income, Not Excess Risk by Morgan Harting With government bonds providing too little income, investors need to diversify credit exposures and include other credit-like investments to achieve their income needs...but without reaching for yield or taking excess risk. Multi-asset portfolios can help. Later in the Cycle, Multi-Asset Likes 0 SHARE Bookmarks
October 16, 2019 Five Lessons Packaged Target-Date Solutions Can Learn from Customization by Jennifer DeLong, Andrew Stumacher As defined contribution (DC) plan sponsors know, the US Department of Labor recommends considering both packaged and custom target-date strategies when choosing a solution. As we see it, packaged solutions can learn a few things from fully customized target-date solutions, which are generally used by large and megasize plan sponsors. Asset Allocation, Multi-Asset, Target-Date Solutions Likes 0 SHARE Bookmarks
October 15, 2019 Muni Investors: Listen to the Market by Daryl Clements Municipal bonds help do three important things: provide income, preserve capital and dampen volatility. But flexibility is important, because how investors can best position their muni portfolios depends a lot on current market conditions. Fixed Income, Later in the Cycle, Municipals Likes 0 SHARE Bookmarks
October 14, 2019 Illiquid Investments: Getting the Formula Right by Brian Resnick Alternative investments have the potential to enhance portfolio returns and reduce risk, but it isn’t easy to determine which alternative works best—and how much of it to own. To get accurate answers, it’s necessary to look beyond traditional asset-allocation approaches. Alternatives, Asset Allocation Likes 0 SHARE Bookmarks
October 14, 2019 Why It’s Time for a Barbell Strategy by Matthew Sheridan As economic cycles enter their later stages, investors sometimes find that they’re taking too much risk to generate income. There’s a strategy that can help—and we think now is the time to use it. Fixed Income, Later in the Cycle Likes 0 SHARE Bookmarks
October 07, 2019 Will Municipal Bonds Continue to Deliver? An Investor Q&A by Daryl Clements Despite the municipal market’s strong year-to-date rally, an aging US expansion and low yields continue to top municipal investors’ concerns as we enter the home stretch of 2019. When conditions are evolving and visibility is limited, active and flexible strategies can help balance risk and reward. Active & Passive , Fixed Income, Later in the Cycle, Municipals Likes 0 SHARE Bookmarks
October 07, 2019 Global Equities: Keeping Balance in a Wobbly World by Sharon Fay, Christopher Hogbin Global stocks advanced in the third quarter, but investor sentiment wobbled amid puzzling signals on macroeconomic growth and monetary policy. Political uncertainty and a cloudier outlook point to more volatility, which should compel investors to intensify their focus on stock fundamentals. Equities, Later in the Cycle, Volatility Likes 0 SHARE Bookmarks
October 03, 2019 Finding a Flexible, Plan Sponsor-Friendly Secure Income Solution by Jennifer DeLong, Andrew Stumacher When plan sponsors consider a lifetime income solution as their DC plan’s default investment, they frequently cite two must-have ingredients: flexibility in adjusting to individual participant circumstances, and simplicity in implementation. Target-Date Solutions Likes 0 SHARE Bookmarks