Market and Economic Insights
Our timely perspectives on macro events and market trends shaping the global financial markets.
Our Latest Insights
Paving the Way for Non-U.S. Equity Outperformance
Non-U.S. equities are likely beneficiaries of falling interest rates in the U.S. and the dollar weakening rather than strengthening. Ken McAtamney, head of the global equities team, explains why these could potentially pave the way for a good year for global equities. This article is featured on William Blair Investment Management's Active Never Rests blog.
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Three Tailwinds for Earnings This Reporting Season
With corporate earnings season once again upon us, macro analyst Richard de Chazal highlights three areas that he believes helped to support earnings this past quarter: the dollar, pricing power, and productivity.
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Will the Fed End Its QT in 2024?
Richard de Chazal examines another important aspect of the Fed—its balance sheet—and outlines what has motivated the discussion on ending its quantitative tightening (QT) so soon.
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Emerging Markets 2024: Unlocking Value in Uneven Terrain
Emerging markets may be regaining their footing as easier monetary conditions could drive growth in 2024 for both equities and debt alike.
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Economic Outlook 2024: Testing Resiliency
While investors will hope for the best in 2024, macro analyst Richard de Chazal examines the resiliency of the markets against a crowded backdrop of Fed policy uncertainty, inflation, bond market and economic dynamics, and other factors each of which will test the limits of the market’s endurance.
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Did November’s Rally Alter the Market Outlook?
What a difference a month makes. Markets swooned in October, only to see virtually all risk assets, including small-caps, rally in November. What changed? Macro analyst Richard de Chazal breaks down the Fed’s recent statement, the market’s rate expectations, and the current state of the economic slowdown.
Read moreFlirting With and Dating Recessions
Timing an economic recession is never easy, as proved this past year. In this report, we take a snapshot of where the main indicators are today, and what some of the more forward-looking data suggest.
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Third-Quarter Earnings and the “Highly Uncertain Macro Environment”
Richard de Chazal charts the current earnings season and what it may hold for future revenue growth against an uncertain macroeconomic backdrop.
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Where Are We in the Small-Cap Cycle?
Macro analyst Richard de Chazal details several reasons that suggest many of the fears about smaller-cap stocks—which historically track to the U.S. economy—have already been priced in.
Read moreWhat’s Driving Today’s Pressure in the Bond Market?
It’s not the riskiest assets that get you into trouble; it’s often the ones you think are the safest but aren’t. Macro analyst Richard de Chazal offers his near-term insights on today’s bond market volatility.
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Latest Sales Data Show the Consumer Remains Strong
August’s advance retail sales report suggests the consumer is far from “struggling on the ropes.” Will these and other recent data influence the FOMC next week?
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