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As U.S. COVID-19 cases increase, so does the risk that economic recovery decelerates. We think policy makers will do what it takes to sustain the recovery, and therefore continue to prefer U.S. equities over bonds.
As May and June numbers are proving out, policy support is the lifeline the economy needs, serving as a bridge to help consumers emerge on the other side of the pandemic intact.
The fixed income landscape is being shaped by six key themes—this is how we are positioning portfolios in the second half of the year.
Highlights from the week of July 31 – August 6, 2020.
Highlights from the week of July 24 – July 30, 2020.
As U.S. COVID-19 cases increase, so does the risk that economic recovery decelerates. We think policy makers will do what it takes to sustain the recovery, and therefore continue to prefer U.S. equities over bonds.
As May and June numbers are proving out, policy support is the lifeline the economy needs, serving as a bridge to help consumers emerge on the other side of the pandemic intact.
Highlights from the week of July 17 – July 23, 2020.
Highlights from the week of July 10 – July 16, 2020.
The fixed income landscape is being shaped by six key themes—this is how we are positioning portfolios in the second half of the year.
Despite our expectations for a dreadful drop in 2Q20 output, we believe a recovery will commence in 3Q20 and lead to a meaningful acceleration beginning in 2021. Accordingly, stocks still look more attractive to us than bonds.
Massive intervention helped corporate credit stage a recovery in April and May—with summer approaching the Fed turns its attention to the securitized credit markets.
We are still overweight U.S. large caps, believing winners will win until a broad-based economic recovery takes hold. Our preference for investment grade U.S. bonds remains; also, we now see opportunities among high yield bonds.