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.
Unlock the Potential of Infrastructure Through Active Management
Portfolio Manager, Nick Langley highlights how the energy transition and reshoring of supply chains underline the need for active management in the infrastructure space.
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The Impact of Bond Yields on Infrastructure Assets
Watch Portfolio Manager, Nick Langley explain the impact that bond yield volatility has on the infrastructure asset class.
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The Long View: Here Comes the Sun?
Several rays of light are showing through the macro clouds, including an increasing likelihood of a soft landing with the Fed being in a more flexible position as inflation moderates and three positive indicator changes for the ClearBridge Recession Risk Dashboard in the last quarter.
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U.S. Economic Outlook: Beware Lagged Effects
The economy is at the crux of this cycle, the most difficult period of headwinds. We expect the lagged effects of Fed tightening to slow economic growth during the first half of 2024 and we continue to maintain our base case of a recession as we move through this period.
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U.S. Equity Outlook: Market Breadth to Dictate Bullishness
CIO, Scott Glasser explains the importance of greater market participation to extend the current bull market and why high-quality defensive stocks, particularly in health care, are positioned to hold up better than the current mega cap leaders in an economic downturn.
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2024 Infrastructure Outlook: Diversification Benefits Could Be Timely
Infrastructure’s inflation pass-through worked well in 2023, supporting earnings across the asset class, while its defense and diversification could make it valuable in 2024.
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AOR Update: The Fed is Done, What's Next?
With the U.S. market and Federal Open Market Committee suggesting the rate hike cycle is complete, the first rate cut could come by May, a pause consistent with the Fed’s “higher for longer” messaging.
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Global Value Improvers: A Value Approach to Delivering ESG Gains
ESG investing approaches typically focus on best-in-class companies in growth sectors, overlooking value sectors that carried poor sustainability profiles in the past but are today undertaking powerful new initiatives for improvement.
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Infrastructure Opportunities Amid Uncertainty
Watch Portfolio Manager, Nick Langley discuss the drivers of recent listed infrastructure performance and highlight how stabilising real yields and strong company fundamentals are improving the outlook for the asset class.
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AOR Update: Not Always a Straight Line Down
Despite better than expected Q3 GDP, we remain cautious as consumption has historically remained strong right up until or even past the start of previous recessions.
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The Long View: The Crux
The toughest test for investors lies ahead as stimulus and consumer resilience fade while lagged effects of rate hikes take hold.
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Higher Deficits to Impact Equity Valuations, Market Leadership
The U.S. interest burden is set to move higher in the coming decade and could eclipse the previous peak seen in the late 1980s and early 1990s.
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