Featured Insights


Chart of the Week

MUNI BONDS: YIELD SURGE

Chart inspired by Western Asset. Source: Muni Yields: Thomson Reuters MMD, Treasury Yields: Bloomberg. As of 23 March 2020. Past performance is no guarantee of future results. This information is provided for illustrative purposes only and does not reflect the performance of an actual investment.

Muni bonds: Yield surge

Chart of the Week

Market Snapshot

Oil Shock: The Energy Sector and Beyond

The collapse in oil prices has added to market dislocations and uncertainty associated with the coronavirus pandemic.


Featured Insights

Market Outlook
Mar 18
Market Outlook

Recession Indicators Update

Policy Responses Critical

March 18, 2020

We currently estimate the odds of recession at 75%, recognizing that some key indicators in our Recession Risk Dashboard have yet to fully reflect the economic impact of the coronavirus.

Market Outlook
Mar 13
Market Outlook

Extreme Volatility Likely to Persist Amid Uncertainty

March 13, 2020

We believe the trend in equity markets will be lower until greater clarity emerges regarding the spread of COVID-19.

Market Outlook
Mar 10
Market Outlook

Oil Price War Adds to Market Shocks

March 10, 2020

The sudden drop in crude oil prices, coming just as the coronavirus is curtailing global demand, raises the likelihood of a worldwide supply glut.

Market Outlook
Mar 02
Market Outlook

Recession Indicators Update

Coronavirus Risk Impacts

March 02, 2020

We see Credit Spreads, Retail Sales, ISM New Orders, Commodities and Truck Shipments as indicators that are most likely to be impacted by the virus in the months ahead. Caution is prudent given the potential for heightened volatility.

Investment Insights
Feb 27
Investment Insights

5G Rollout to Lift Most Boats

February 27, 2020

Handset makers and suppliers should be immediate beneficiaries, followed closely by telecom providers and tower operators.

Investment Insights
Feb 25
Investment Insights

Assessing Coronavirus Tail Risk Scenarios

February 25, 2020

If COVID-19 spreads widely, central banks and governments could respond with expansionary policies -- with the resulting growth supportive of cyclical value and economically sensitive growth stocks outside the U.S.

Market Outlook
Feb 07
Market Outlook

Recession Indicators Update

Cautious as Activity Rebounds

February 07, 2020

Manufacturing new orders bounced back last month, but the ClearBridge Recession Risk Dashboard's signal remains a cautious yellow.

Investment Insights
Jan 30
Investment Insights

Coronavirus Business Impacts Likely Short-Lived

January 30, 2020

The short-term negative economic impact will likely motivate China and other countries to add to existing fiscal and monetary stimulus measures.

Market Outlook
Jan 07
Market Outlook

Recession Indicators Update

A Pivotal Year for Equities

January 07, 2020

Our Recession Risk Dashboard continues to indicate a cautionary yellow signal with no changes this month, while valuation and allocation trends suggest a positive, albeit choppy, market in 2020.

Market Outlook
Dec 13
Market Outlook

2020 Outlook for U.S. Equities and Economy

December 13, 2019

A resilient consumer is likely to propel the bull market and economic expansion through the new year.

Market Outlook
Dec 02
Market Outlook

Recession Indicators Update

Wage Pressures Mounting

December 02, 2019

Wage pressures are mounting, which could lead to higher inflation – yet commodity prices have improved. That leaves the ClearBridge Recession Risk Dashboard overall signal unchanged at a cautionary yellow.

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