Investment Outlook

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Powerful Improvement Factor is Difficult to Recognize in Real Time

July 29, 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.

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Will Policy Support be Enough?

July 27, 2020

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.

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Magnanimous Policy Makers and Less Bad News Drive Stocks Higher

June 26, 2020

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

Will Policy Support be Enough?

July 27, 2020

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.

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All Eyes on the Consumer

May 11, 2020

While there are many parallels to draw between the current crisis and 2008, the fundamental economic backdrop that preceded COVID-19 was starkly different than the economic environment that preceded the 2008 crisis.

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