Perspectives

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Anatomy of a Recession Market Outlook

6 Dec 2021

AOR Update: The Anti-Taper Tantrum

With the economy recovering, removing QE is a step toward more normal but still accommodative monetary policy ahead of eventual rate hikes.

Market Outlook

5 Dec 2021

Variants Could Extend Growth Curve for Vaccine Makers

The emergence of the COVID-19 Omicron variant shows the fight against the virus is ongoing and that COVID-19 could transition to an endemic virus.

Anatomy of a Recession Market Outlook

8 Nov 2021

AOR Blog: Red Light, Green Light

Despite some investor worries about stagflation risks, solid 3Q earnings and a green signal for the ClearBridge Anatomy of a Recession Risk Dashboard suggest the US economy remains robust.

Anatomy of a Recession Market Outlook

6 Oct 2021

The Long View: The Peak in Peaks

Headline risks around peak everything overlook rolling stock corrections in large swaths of the market and bearish investor sentiment, factors likely to soften the current drawdown.

Market Outlook

27 Sep 2021

Perspectives on China, the Evergrande Saga and Macau

The current uncertainty and risks in China should be viewed in the context of the significant long-term investment opportunities in the region. We seek to align our investments with the recent reforms and the next stage of growth drivers.

Anatomy of a Recession Market Outlook

10 Sep 2021

Anatomy of a Recession: The More Things Change...

The overall economic backdrop remains healthy as illustrated by a continued green signal for the ClearBridge Recession Risk Dashboard, despite softer Retail Sales and consumer confidence.

Anatomy of a Recession Market Outlook

5 Aug 2021

Anatomy of a Recession: Mid-Cycle Transition No Reason to Sell

Despite a weaker than expected second quarter GDP print, we continue to believe the economy is undergoing a somewhat typical handoff from the early- to mid-cycle.

Anatomy of a Recession Market Outlook

7 Jul 2021

The Long View: Waiting for a Pullback?

Today’s ebullient macro and market environment is likely to give way to a period of slower, yet still robust, economic and earnings growth powerful enough to elongate the current bull market.

Anatomy of a Recession Market Outlook

4 Jun 2021

Recession Indicators: Strong... to Quite Strong

With three indicators improving in May, all 12 underlying signals on the ClearBridge Recession Risk Dashboard are flashing green, consistent with a robust economic backdrop.

Anatomy of a Recession Market Outlook

4 May 2021

Recession Indicators: Labour Measures Show Improvement

The ClearBridge Recession Risk Dashboard improved in April and maintains an overall green signal with three positive underlying changes related to the labour market: Job Sentiment and Wage Growth improved to yellow while Jobless Claims advanced to green.

Anatomy of a Recession Market Outlook

12 Apr 2021

The Long View: Inflationary Riptide or Reflationary Current?

The ClearBridge Recession Risk Dashboard continues to flash an overall green expansionary signal, with one positive signal change in March as Profit Margins improved to green. We expect further improvement in the weaker areas of the dashboard as we move through the second quarter.

Anatomy of a Recession Market Outlook

5 Mar 2021

Recession Indicators: Amid Recovery, Inflation Scare Looms

With reopening expected to spark a pickup in activity, fiscal and monetary policy still quite accommodative and the economy facing easier near-term price comparisons, investors are increasingly concerned about the risk of a sharp rise in inflation.