Key changes from May’s report: Upgrade Value from Neutral to Positive, Downgrade Growth to Negative from Neutral. Upgrade Industrials from Neutral to Positive, Downgrade Technology to Neutral from Positive § Upgrade Developed International from Negative to Neutral,...
Fiscal stimulus, which was central to the market rebound in the last year, may start moving to the sidelines over the rest of 2021 and into 2022 as the recovery continues. Economic growth can compensate for the loss of government checks to households and businesses,...
The ISM Manufacturing Index rose to 61.2 in May, narrowly beating the consensus expected 61.0. (Levels higher than 50 signal expansion; levels below 50 signal contraction.) The major measures of activity were mixed in May, though all stand above 50, signaling growth....
As we move into June, we see a path to normalcy coming quickly with stadiums allowing full capacity, restaurants filling up, and summer vacations in full swing. Meanwhile, the U.S. economy continues to recover remarkably quickly and the stock market is near all-time...
After one of the worst starts to a year for fixed income, returns may not get much better from here. Long-term interest rates have traded sideways recently but we expect rates to potentially rise further, which would put downward pressure on bond prices. We’re not...
