Commentary

As the Economy Slows, Favor Consistency Over Volatility

In many ways, 2023 continues to be the mirror image of 2022, with the most volatile assets being some of the best performers for much of the year.

Commentary

5 Factors Favoring Stock Selection

When markets are in a rising tide, all boats (aka stocks) can benefit. When the waters are choppier, active equity selection aims to identify the sounder vessels. Tony DeSpirito reviews five reasons why he believes the new environment is setting up to favor an active approach.

Commentary

Lack of Access Is a Crucial Factor to Preventing Retirement Savings

BlackRock and Human Interest have found that American workers earning less than the national average are not saving due to lack of access to saving tools. Broadening access requires an intuitive and automated approach to retirement savings.

Commentary

Munis Fall Short Of Seasonal Expectations In August

Municipals posted negative total returns amid rising interest rates. Issuance exceeded tempered expectations, while demand waned as performance struggled.

Commentary

Factors & the Magnificent Seven

Seven mega-cap US-based companies – Apple, Microsoft, Amazon, Google, Nvidia, Tesla, and Meta (Facebook) – have stayed top of mind for many investors this year.

Commentary

Why Investors in Retirement May Want to Consider an Income Approach

As multi-asset income investors, we seek to help a wide range of clients meet their income needs. The benefits of an income-centric approach are especially relevant for investors as they enter retirement – and that’s especially true today. We bring that to life with two case studies.

Commentary

Q2 Earnings Reveal Two Areas To Watch Among U.S. Stocks

U.S. companies broadly notched better-than-expected results in the second quarter, even as overall earnings growth for the S&P 500 saw a decline. Equity investor Carrie King sees more interesting developments beyond the numbers and posits one area that may be getting tired as another readies for a reawakening.

Commentary

Fiscal-Monetary Entanglement

Monetary and fiscal policy are typically thought of as independent tools that central banks and governments use to manage the economy.

Commentary

Three Takeaways From U.S. Earnings

U.S. corporate earnings have stagnated for a year, but Q2 beat a low bar. Expectations of improving margins look rosy. We stay selective in equities.

Commentary

Select Segments of Growth Still Providing Steady Returns

Following the YTD strength in equity markets, Russ Koesterich discusses how a combination of cyclical, and a growth bias may serve investors well in today’s market.

Commentary

Munis Maintain Summer Heat in July

We maintain a neutral-duration posture overall. We prefer an up-in-quality bias and have become increasingly selective in non-investment grades.

Commentary

Investing in a Changing World: From Carburetors to Compilers

For the better part of the last century, the largest companies in the world were those that produced physical property – traditional transportation machines, the energy that powered them, or the capital that financed them.

Commentary

Rotation to Duration: Seeking a More Resilient Portfolio

The potential for a Fed pause presents an opportunity for investors to consider adding duration back into their portfolios.

Commentary

Opportunities in Globalization Rewiring

We see emerging markets better withstanding volatility and benefiting as supply chains rewire. We switch our EM debt preference to hard currency from local.

Commentary

Equity Investing for a New Era: The Return of Alpha

The economy and markets that have emerged from the pandemic fundamentally changed. For equity investors, we believe this means a different opportunity set than the one that prevailed over the past decade and a half ― and one that favors alpha (excess return) over beta (market return).