Recovery Indicators Update
The ClearBridge Recovery Dashboard improved to a cautious yellow in May on upgrades to credit spreads and initial jobless claims.
Investment-grade credit could offer substantial value, even in the current uncertain economic environment.
Around the Curve
Will the recent worldwide fiscal and monetary moves set the stage for an inflationary future?
Global Emerging Markets
Emerging markets have made great strides when it comes to ESG over the years, and there is now a constellation of companies which can go head to head with their developed-market peers.
COVID-19’s sudden impact on the market for office space could spark unanticipated changes longer-term.
Chart of the Week
Chart inspired by Western Asset. Source: Bloomberg, as of 5/29/20. Past performance is no guarantee of future results. Indexes are unmanaged, and not available for direct investment. Index returns do not include fees or sales charges. This information is provided for illustrative purposes only and does not reflect the performance of an actual investment.
Chart of the Week
The collapse in oil prices has added to market dislocations and uncertainty associated with the coronavirus pandemic.
Emerging Market Debt
For EM debt, the lower liquidity of recently volatile markets could provide more opportunity than in more tranquil times.
In a still unpredictable environment, global investment-grade credit could offer the potential for capital gains, income and liquidity.
The 2020 Impact Report
A comprehensive review of the sustainability issues ClearBridge is addressing through ESG engagement.
What states need to survive these challenging economic times.
With the future uncertain and concern about drawdown risk elevated, credit's defensive characteristics are increasingly important to allocation decisions.
Sustainable dividend stocks may offer equity exposure and yield with some insulation from price fluctuations.
Mid Week Bond Update
The U.S. dollar has benefited from the risk aversion generated by COVID-19. But longer term, is the greenback ahead of itself?
Risk aversion is helping support U.S. dollar for now, but the longer-term outlook remains clouded by uncertainty.
After a dramatic policy response to COVID-19, what's next for Italy's economy and bond markets?
Our tactical stock-bond model continues to favor investment grade bonds over U.S. stocks.
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