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Market Outlook

Market Outlook
Feb 23

Western Asset Global Outlook

US growth may disappoint - why?

We think the bond market has moved too far and too fast. This optimistic growth expectation is based on policies that probably won’t be enacted for another 12-18 months. Given the strong interparty tensions across the political spectrum, and even the disagreements regarding increased deficits, it seems likely these policies will be watered down by the time they are eventually enacted. READ MORE.

Market Outlook
Feb 15

Mid-Week Bond Update

US high grade bonds – fading romance?

US highly-rated corporate bonds delivered on Valentines’ day a present that investors should have loved: their spread over US Treasuries fell to 119 basis points (bps), the lowest since November 2014. However...

Market Outlook
Feb 08

Mid-Week Bond Update

Goldilocks data lifts High Yield, Emerging Markets

High Yield and Emerging Market bonds were the winners over a 5-day period dominated by goldilocks data: a not too hot-not too cold economy has generally been positive for the two asset classes, which have traditionally benefited from...

Market Outlook
Feb 03

Policy Matters

What to expect from the Fed in 2017

The surprise election of Donald Trump continues to be the focus for investors. The prospect of a new policy environment, and the various attendant risks, have led to a rethinking of economic forecasts and significant repricing across asset classes.

Market Outlook
Feb 02

Western Asset: a bespoke approach to Unconstrained Investing

Unconstrained fixed-income investing has recently come into prominence due largely to two factors. First is investor desire to avoid having their portfolios tied to benchmarks whose composition may not reflect the optimal or desired components of their investment needs and objectives.

Market Outlook
Feb 01

Mid-Week Bond Update

La la land, no more?

US Treasuries and traditional risk assets emerged as both 5-day and January winners, as US president Trump’s stark first policies added volatility and uncertainty, but also rekindled hopes of faster growth. Street protests, the firing of a high level official and several diplomatic spats...

Market Outlook
Jan 25

Mid-Week Bond Update

US dollar: Trump dump

Comments by US president Trump about the dangers of having a strong currency sent the dollar back down to the level it had before the latest Federal Reserve rate hike in December. In a politically-driven week, Trump’s plans to withdraw from the Trans-Pacific Partnership (TPP) trade agreement also dragged...

Market Outlook
Jan 18

Mid-Week Bond Update

Pounding fast

Global sovereign bonds rose over the past five trading days, as the euphoria that has driven financial markets since Donald Trump’s US election victory in November started to fade. Lack of details...

Market Outlook
Jan 11

Mid-Week Bond Update

Rising from the dead: long Treasuries

The risk-on rally that started after Trump won the US election in November continued for yet another week – although this time it had an unexpected winner: US long Treasuries. Following weeks of torrid performance...

Market Outlook
Jan 11

Looking Ahead

OUTLOOK 2017

ClearBridge Investment Strategist Jeff Schulze offers insight on what 2017 could have in store for the economy and markets.

Market Outlook
Jan 04

Midweek Bond Update

New Year, Old Questions

The first few days of 2017 saw fixed income investors grappling with the same key questions that dominated the last months of 2016.

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