Perspectives
Stay up-to-date with the current investment and macroeconomic issues at ClearBridge Investments. We provide analyses of the themes and trends which lie at the heart of your investment challenges.
Risk is Not a Four-Letter Word
Risk is an essential component of the investment process that we must take on to accomplish our goal of delivering attractive long-term returns.
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AOR Update: A Headwind, Not a Hurricane
While housing has been on the leading edge of the current downturn, the threat of higher interest rates will likely be muted relative to history.
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Global ESG Outlook: More Scrutiny on Sustainable Investments
Regulation, biodiversity and human and labor rights should remain a focus for sustainability-minded investors in 2023.
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The Long View: The Most Anticipated Recession Ever
With a deep red signal emanating from the ClearBridge Recession Risk Dashboard and a Fed clearly willing to tolerate economic pain in order to restore price stability, we believe a recession is likely in 2023.
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U.S. Equity Outlook: Patiently Waiting for a Durable Bottom
We see 2023 shaping up to be a tale of two halves. Heading into the new year, we continue to favour value stocks with defensive characteristics. However, as market participants become convinced the bear market is over, leadership should rotate toward small cap and more aggressive, higher risk stocks.
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AOR U.S. Economic Outlook: Recession the Path of Least Resistance
The ClearBridge Recession Risk Dashboard has been flashing a red or recessionary signal for the past four months, consistent with our view that a recession is likely to occur in the U.S. in the next 12 months.
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2023 Infrastructure Outlook: Climate, Macro Drivers Create Tailwinds
Secular growth drivers for infrastructure should be on full display in 2023, as the dire need for infrastructure spending underpins growth for the next decade, and the first steps for meeting long-term climate and electrification goals are being taken now.
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An ESG Framework for Extractive Industries
In our latest white paper, we examine the key ESG considerations required for investing in minerals necessary for the energy transition. They offer a framework for engaging mining companies on ESG risks and outline some best practices ClearBridge has identified.
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Inflation Reduction Act Deepens the Decarbonisation Bench
The U.S. Inflation Reduction Act offers strong tailwinds for ClearBridge holdings in the renewable energy and electric vehicle supply chains, as well as companies helping the climate with solutions in buildings and energy efficiency.
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The Long-Term Case for Infrastructure
Amid rising bond yields, investors may turn to listed infrastructure, which has historically provided a lower-volatility offering, and should continue to, with efficient market valuations that could be more attractive relative to their unlisted peers.
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The Long View: The Rorschach Economy
Similar to past recessionary drawdowns, we believe the bottoming process for equities will take time to unfold.
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Earnings in Focus as Bear Market Continues
CIO Scott Glasser analyses the current stage of the U.S. market drawdown, the likely impact on earnings from reduced liquidity and where to position portfolios as markets likely retest prior lows.
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