What’s ahead for fixed income markets in 2024? Join us to hear BondBloxx’s investment strategist, JoAnne Bianco, CFA®, discuss key themes across fixed income asset classes and portfolio positioning ideas.
Energy infrastructure has enjoyed tailwinds in recent years from solid free cash flow generation and positive dividend trends. Will 2024 bring more of the same? Join the experts at VettaFi and SS&C ALPS Advisors for a webcast covering the midstream/MLP outlook for 2024.
During our Market Outlook Symposium, our panelists will offer their analysis and answers to those questions and the others that will determine whether your clients will reach their financial goals.
Join the experts at VettaFi and Innovator ETFs for a webcast diving into the market risks, portfolio strategies, and potential rewards awaiting saavy investors in 2024.
The Franklin Templeton Fixed Income team believes that sustainable investing will be a dominant investment trend in the coming years, with structural tailwinds that could help improve financial returns.
It’s a lose-lose situation for US stock investors next year, according to Marko Kolanovic, JPMorgan Chase & Co.’s chief market strategist.
The Market Outlook Symposium is coming on December 14. The latest symposium from VettaFi will offer investors a deep and incisive look at how to position for 2024 and beyond. In today’s unusual market environment, this is a critical topic.
US household wealth declined in the third quarter by the most in a year on a drop in the value of stock holdings.
Funds will begin paying out their 2023 distributions this month which could lead to a tax bill for your clients. While capital gains distributions will likely be lower this year than in recent years, interest income is expected to be higher.
Stephen Dover, Head of Franklin Templeton Institute, recently sat down with Franklin Templeton Fixed Income Portfolio Manager Josh Lohmeier and Western Asset Portfolio Manager Mark Lindbloom to discuss the fixed income landscape—and why they believe 2024 will be a good year for fixed income investors.
It’s possible that a 2024 recession could be avoided, but we see recessions risks as remaining elevated in most developed markets. We believe there is limited upside for equities amid expensive valuations and recession concerns. Government bond valuations, however, look attractive in the U.S., UK, Canada, Germany and Australia.
Jeremy Grantham will be a keynote speaker at Exchange, joining an exceptional roster of luminaries, thought leaders, and industry titans.
The winter holiday season is here, and I wanted to join in the festivities. Recently, advisors have become more comfortable turning to active ETFs to help them and their clients navigate the uncertain market environment. Actively managed ETFs have gained traction in 2023.
It should be no surprise that Bitcoin sold for over $44,000 this week, more than double its March 13 price. Going back to 2014, it has taken the cryptocurrency an average of nine months and 21 days to double; the milestone came 28 days early this time.
Stock markets will suffer in the first quarter of 2024 as a rally in bonds would signal sputtering economic growth, according to Bank of America Corp.’s Michael Hartnett.
A tough year for banks has left shares cheap, but Wall Street analysts are still hesitant to declare it’s all-clear for the sector as concerns over credit markets loom.
The capital markets are already pricing in rate cuts ahead of 2024, causing yields to fall. One way to continue supplementing income amid a potential drop in yields is to diversify income using a pair of active exchange-traded funds.
Although some volatility may continue, we believe interest rates have peaked. We expect lower Treasury yields and positive returns for investors in 2024.
A year ago, I’m pretty sure I had little idea what artificial intelligence (AI) was and what it could become. While there were a few related ETFs, AI was just another one of the long-term investment themes.
Homebuyers have suffered some severe whiplash in recent months. After all, when mortgage rates hit 8% in late October, it was reasonable to think the housing market would stay on ice throughout the winter.
US mortgage rates fell to the lowest level in almost four months last week, spurring the biggest demand for refinancing since February.
The notoriously saturated $7.7 trillion ETF industry is this year poised for the second-highest number of closures, as the pandemic-era day trading boom fizzles out.
The recent rate pause by the Federal Reserve is bringing optimism to the capital markets that interest rates may finally head lower. In turn, it’s pushing yields down. Conversely, bond prices rallied in November, which should help bring investors back to the market.
Markets improved last month across the board as interest rates pulled back on signs of slowing growth. U.S. markets were up by high-single to low-double digits, while international markets were also up by high-single digits.
Apollo Global Management Inc.’s Marc Rowan said it’s getting harder for active managers to beat indexes in public markets and that it is easier for investors to find alpha in private markets.
MetLife Inc., the biggest US life insurer, downplayed concerns about the faltering commercial real estate market amid signs that occupancy is starting to recover.
Treasury yields resumed their downward slide — with the benchmark 10-year note’s falling to the lowest level since Sept. 1 — after the latest sign of labor-market cooling bolstered bets that a Federal Reserve shift to policy easing isn’t far off.
Taiwan’s economic and financial decoupling from China has deepened with the near-collapse of what was once the world’s largest Chinese bond exchange-traded fund market.
The Canadian economy is buckling under the weight of higher interest rates, household debt and immigration.
Our outlook for 2024 is for a gradual U-shaped recovery composed of seemingly chaotic movements in economic data with turning points in policy rates and earnings growth.
One of the big winners from the sudden furious rally in the US bond market: Bill Gross.
The Institute of Supply Management (ISM) has released its November services purchasing managers' index (PMI). The headline composite index is at 52.7, which was above the 52.0 forecast. The latest reading marks the 11th straight month the index has been expansion territory.
The November U.S. services purchasing managers' index (PMI) conducted by S&P Global came in at 50.8, consistent with the forecast. The latest reading keeps the index in expansion territory for the 10th straight month.
Don’t look to US stocks for big gains next year — or for at least the next decade. That’s the bold take from Stifel Nicolaus & Co.’s Barry Bannister, one of a few Wall Street strategists who predicted the rally in the first half of 2023.
As the profession requires more advisors, targeting a wider talent pool and creating a structure to support their success is essential.
November was kind to fixed income investors as bonds posted their best month of 2023. High yield corporate debt participated in that rally as highlighted by the fact that the largest junk bond exchange traded fund is higher by nearly 4.3% over the past month.
The dearth of homes for sale has underpinned the housing market’s surprising resilience and may further lift home prices despite reduced affordability.
With more than 3,000 ETFs to cover and many new ones launching each month, it is easy to forget. For many people, S&P 500 Index-based ETFs remain the core of their portfolio. Heading into 2024, these products topped the latest monthly flow leaderboard.
I previously discussed a slate of recessionary indicators with high correlations to recessionary onsets. However, as we head into 2024, many Wall Street economists predict a “soft landing” or “no recession” outcome for the economy.
Use the holiday season to understand what's important to our clients and what they want to achieve with their money.
Across Wall Street, analysts and investors had cheered 2023 as the year of emerging markets, only to be burned by a relentless climb in US Treasury yields. Now, as the Federal Reserve looks set to end its most aggressive monetary tightening campaign in a generation, they’re at it again.
US stocks are headed for a rocky end to the year after rallying in November as bond yields fluctuate, according to Morgan Stanley’s Michael Wilson.
Bitcoin has jumped more than 140% this year to outstrip other investments like stocks and gold, and optimism for further gains is high.
A torrid bond market rally shows traders are convinced the Federal Reserve’s rate-rising cycle is over. The debate now turns to when central bankers start cutting, and by how much.
Many advisors and investors in 2023 have turned to fixed income ETFs with an average duration of less than one year. Taking on very little interest rate risk through duration has been rewarding as well.
After the underperformance of stocks and bonds last year, it’s no surprise that diversification strategies are a significant focus this year. Alternatives continue to garner advisor and investor interest as market dispersion grows, including managed futures and long/short strategies.
Recent labor agreements in the auto and airline industries spotlight the profitability conundrum facing US companies—and equity investors.
Franklin Templeton recently hosted due diligence meetings with financial advisors where Tony Davidow, Senior Alternatives Investment Strategist, led discussions focused on alternative investments.
Money managers including Invesco Ltd. and Loop Capital Asset Management are bullish on regional-bank bonds, wagering that the debt will perform better than the broader market as fears about funding costs settle down.
Federal Reserve Chair Jerome Powell pushed back against Wall Street’s growing expectations of interest-rate cuts in the first half of 2024, saying the committee will move cautiously with borrowing costs at a 22-year high but retain the option to hike further.
In the wake of recent underperformance, healthcare is entering the new year with compressed valuations just as innovation picks up and a post-COVID reset winds down. That should make for a positive outlook, says Janus Henderson Portfolio Managers Andy Acker and Dan Lyons.
The November S&P Global US Manufacturing PMI™ fell to 49.4 from 50.0 in October, signaling a renewed decline in operating conditions. The latest reading was consistent with expectations. The index has now fallen back into contraction territory after a brief 1-month expansion.
The likes of consumer resiliency based on the earliest readings on Black Friday sales and the degree to which the Artificial Intelligence theme continues support the idiosyncratic tendencies of the markets concentrated in the Magnificent 7.
The fourth quarter has seen a strong performance from gold. In early October, the price of gold stood at $1,820 per ounce, according to Kitco, and looked as if it would continue to drop in value as it had done the previous five months.
Personal income (excluding transfer receipts) rose 0.3% in October and is up 5.4% year-over-year. However, when adjusted for inflation using the BEA's PCE Price Index, real personal income (excluding transfer receipts) was up 0.3% month-over-month and 2.3% year-over-year.
As a rush of Wall Street strategists call for all-time highs in US stocks in the year ahead, JPMorgan Chase & Co. stands apart, releasing the gloomiest forecast so far among its peers.
Broad commodities have struggled this year. The S&P GSCI Index is down more than 5% year-to-date. However, there are still opportunities when investors dig a little deeper, according to Teucrium’s Senior Portfolio Specialist Jake Hanley.
Despite an increasingly challenging economic and geopolitical environment, the global economy performed better than expected over the past year. But although analysts’ projections for 2023 were too pessimistic, it appears that consensus forecasts for the coming year may have have swung too far in the opposite direction.
On November 28, 2023, VettaFi hosted an Alternatives Symposium with an excellent turnout of nearly 750 advisors and investors registered for the event.
Maria Giraldo discusses the performance of the corporate credit sector this year and the rationale for our cautiously optimistic outlook for 2024.
Often misunderstood, crypto has an important role to play in the alternatives sleeve of a portfolio.
As I start thinking about Christmas this year, I decided I want to be on the nice list again, so I put together some useful year-end actions and ideas for financial advisors.
Commodities entered 2023 behind a strong performance in 2022. For investors revisiting their portfolios ahead of 2024, it may be worth assessing the commodities outlook. From energy to precious metals, commodities can add meaningful diversification to a portfolio.
Economic pain is likely in 2024, but that doesn’t mean stocks will struggle all year, especially if there is a continuation of the rolling recessions that have hit the economy.
The rebound in Adyen NV and its European fintech peers this month has been notable, but investors should brace for a bumpy road ahead.
Fifth district manufacturing activity slowed in November, according to the most recent survey from the Federal Reserve Bank of Richmond. The composite manufacturing index fell to -5 in November from 3 in October, marking its 1st negative reading in the past 3 months. This month's reading was worse than the forecasted reading of 1.
The Conference Board's Consumer Confidence Index® bounced back in November following three straight monthly declines. The index increased to 102.0 from October's downwardly revised reading of 99.1. This month's reading was better than expected, exceeding the 101.0 forecast.
The rally that led the S&P 500 to one of its best November gains in a century is now running out of steam, according to Citigroup Inc. strategists.
The recent sharp pullback in volatility as year-end approaches creates hedging opportunities given the cloudy outlook for equities, according to Goldman Sachs Group Inc. strategists.
As banks pull back from many types of lending, demand for capital is outpacing supply, providing the best potential opportunities in private credit since the GFC.
Don’t look now, but markets are once again getting excited about the prospect of potential rate cuts. Following months defined by rising rates, investors are looking forward to inflation cooling sufficiently for the Fed to finally cut.
Technological turning points in the past have taught important lessons about how to identify long-term winners from transformative innovation.
With relentless market volatility and other stubborn headwinds, advisors must find an adequate portfolio balance for their clients. What role will alternative investments play in offsetting market challenges? In this episode, we dive into this question with Andrea Mody, U.S. wealth private markets head at Macquarie Asset Management. We discuss how Macquarie continues to be a trailblazer for the democratization of alternatives, how traditional asset managers are reorganizing to incorporate alternatives, the roadblocks for allocation and Andrea’s outlook for the space.
I'll share the impact healthcare costs have on financial plans, the critical healthcare information to include (such as medical tax deductions and IRMAA), how to budget for costs in a world of variables, and tangible strategies to implement during open enrollment and beyond to ensure clients are on the optimal coverage.
How can RIAs avoid missing the mark when it comes to private market investments?
The Dallas Fed released its Texas Manufacturing Outlook Survey (TMOS) for November. The latest general business activity index came in at -19.9, down 0.7 from last month. This is the third consecutive monthly decline in the general business activity index and marks the 19th consecutive month it has been in contraction territory.
The growth of the federal deficit in the post-COVID era, coupled with the political unwillingness to increase taxes, foretells higher-than-historical inflation rates, according to new research.
VettaFi will be hosting an Alternatives Symposium tomorrow, November 28. We are covering a range of alternative topics.
The 2023 holiday season is officially upon us. Happy Black Friday and Cyber Monday to those who observe!
This is an exciting time for artificial intelligence and robotics stocks, with many companies reporting and some major news announcements. This week, for the Disruptive Theme of the Week, I reached out to VettaFi’s Senior Research Analyst, Zeno Mercer, for an update on the latest developments in AI and robotics.
Treasury investors are turning increasingly skeptical the Federal Reserve will deliver a soft landing for the US economy next year, elevating concern of a looming recession over the risks posed by inflation and a swelling budget deficit.
US short-term inflation expectations climbed to a seven-month high in November and longer-run price views remained at levels not seen since 2011.
Growth prospects for renewable energy will be a central plank of discussions when world leaders start gathering next week in Dubai for COP28.
CIO designate Sean Taylor gives his take on what Asia has to offer global and emerging markets investors, from growth, to diversification, to innovation.
October news on CPI inflation was all the doctor recommended and has markets spinning and repricing the Federal Reserve’s (Fed) potential path forward.
Reasons prompting concern around investing in China may be improving, but volatility is likely to remain characteristic of Chinese stocks in 2024.
VettaFi’s Stacey Morris recaps the year in energy ETFs and offers an outlook for 2024. Honeytree’s Liz Simmie spotlights their recently launched U.S. Equity ETF (BEEZ) which focuses on “responsible growth”. Brown Brothers Harriman’s John Hooson discusses the potential pros and cons of ETFs moving to T+1 settlement next year.
The latest inflation report, showing that price increases slowed in October, suggests that the US just might get the “immaculate disinflation” that everyone is hoping for: Inflation will fall to its pre-pandemic levels and remain there, and the US will avoid a recession. Allow me to make the pessimist’s case that we are not out of the woods yet.
For investors stashing record sums in cash, US bond managers overseeing a combined $2.5 trillion have a bit of advice: It’s time to put that money to work.
David Dali, Head of Portfolio Strategy, provides his 12-month outlook for global equity markets.
Outlooks
Why precision will matter for bond investors in 2024: Join BondBloxx for a fixed income market outlook
What’s ahead for fixed income markets in 2024? Join us to hear BondBloxx’s investment strategist, JoAnne Bianco, CFA®, discuss key themes across fixed income asset classes and portfolio positioning ideas.
2024 Midstream/MLP Outlook: Can the Positive Momentum Continue?
Energy infrastructure has enjoyed tailwinds in recent years from solid free cash flow generation and positive dividend trends. Will 2024 bring more of the same? Join the experts at VettaFi and SS&C ALPS Advisors for a webcast covering the midstream/MLP outlook for 2024.
2024 Market Outlook Sympoisum
During our Market Outlook Symposium, our panelists will offer their analysis and answers to those questions and the others that will determine whether your clients will reach their financial goals.
2024 Investment Outlook: Stay on Pause
Join the experts at VettaFi and Innovator ETFs for a webcast diving into the market risks, portfolio strategies, and potential rewards awaiting saavy investors in 2024.
Growing Green: Cultivating a Sustainable Future Through an Ecosystem Service Valuation
The Franklin Templeton Fixed Income team believes that sustainable investing will be a dominant investment trend in the coming years, with structural tailwinds that could help improve financial returns.
JPMorgan’s Kolanovic Says Opt for Cash or Bonds Over Stocks
It’s a lose-lose situation for US stock investors next year, according to Marko Kolanovic, JPMorgan Chase & Co.’s chief market strategist.
Market Outlook Symposium to Provide Critical Information
The Market Outlook Symposium is coming on December 14. The latest symposium from VettaFi will offer investors a deep and incisive look at how to position for 2024 and beyond. In today’s unusual market environment, this is a critical topic.
US Household Net Worth Falls on Drop in Value of Stock Holdings
US household wealth declined in the third quarter by the most in a year on a drop in the value of stock holdings.
Capital Gain Distributions Are Still Not Your Friend. But Now, Interest Is Also Your Frenemy!
Funds will begin paying out their 2023 distributions this month which could lead to a tax bill for your clients. While capital gains distributions will likely be lower this year than in recent years, interest income is expected to be higher.
Investment Ideas—the Case for Fixed Income in 2024
Stephen Dover, Head of Franklin Templeton Institute, recently sat down with Franklin Templeton Fixed Income Portfolio Manager Josh Lohmeier and Western Asset Portfolio Manager Mark Lindbloom to discuss the fixed income landscape—and why they believe 2024 will be a good year for fixed income investors.
2024 Global Market Outlook: The Twilight Zone
It’s possible that a 2024 recession could be avoided, but we see recessions risks as remaining elevated in most developed markets. We believe there is limited upside for equities amid expensive valuations and recession concerns. Government bond valuations, however, look attractive in the U.S., UK, Canada, Germany and Australia.
Jeremy Grantham Announced as Latest Exchange Keynote
Jeremy Grantham will be a keynote speaker at Exchange, joining an exceptional roster of luminaries, thought leaders, and industry titans.
8 Under-the-Radar Active ETFs for the Holidays
The winter holiday season is here, and I wanted to join in the festivities. Recently, advisors have become more comfortable turning to active ETFs to help them and their clients navigate the uncertain market environment. Actively managed ETFs have gained traction in 2023.
Bitcoin Is Earning Its Place in a Balanced Portfolio
It should be no surprise that Bitcoin sold for over $44,000 this week, more than double its March 13 price. Going back to 2014, it has taken the cryptocurrency an average of nine months and 21 days to double; the milestone came 28 days early this time.
BofA’s Hartnett Says Bonds Rally May Drag on Stocks in Early ‘24
Stock markets will suffer in the first quarter of 2024 as a rally in bonds would signal sputtering economic growth, according to Bank of America Corp.’s Michael Hartnett.
Bank Stocks Are Cheap But Credit Risks Keep Analysts Wary
A tough year for banks has left shares cheap, but Wall Street analysts are still hesitant to declare it’s all-clear for the sector as concerns over credit markets loom.
As Yields Fall, Diversify Income With These 2 ETFs
The capital markets are already pricing in rate cuts ahead of 2024, causing yields to fall. One way to continue supplementing income amid a potential drop in yields is to diversify income using a pair of active exchange-traded funds.
Fixed Income Outlook: The Rocky Road Bond Market
Although some volatility may continue, we believe interest rates have peaked. We expect lower Treasury yields and positive returns for investors in 2024.
AI Remains in Early Investment Stage
A year ago, I’m pretty sure I had little idea what artificial intelligence (AI) was and what it could become. While there were a few related ETFs, AI was just another one of the long-term investment themes.
Frustrated Homebuyers Are About to Catch a Break
Homebuyers have suffered some severe whiplash in recent months. After all, when mortgage rates hit 8% in late October, it was reasonable to think the housing market would stay on ice throughout the winter.
US Mortgage Rate Drops to Four-Month Low, Boosting Refinancing
US mortgage rates fell to the lowest level in almost four months last week, spurring the biggest demand for refinancing since February.
Bursting of Pandemic-Stock Bubble Fuels Big Wave of ETF Closures
The notoriously saturated $7.7 trillion ETF industry is this year poised for the second-highest number of closures, as the pandemic-era day trading boom fizzles out.
November Rally Should Help Bring Investors Back to Bonds
The recent rate pause by the Federal Reserve is bringing optimism to the capital markets that interest rates may finally head lower. In turn, it’s pushing yields down. Conversely, bond prices rallied in November, which should help bring investors back to the market.
Looking Back at the Markets in November and Ahead to December 2023
Markets improved last month across the board as interest rates pulled back on signs of slowing growth. U.S. markets were up by high-single to low-double digits, while international markets were also up by high-single digits.
Apollo CEO Says It’s Getting Harder to Beat Public Markets
Apollo Global Management Inc.’s Marc Rowan said it’s getting harder for active managers to beat indexes in public markets and that it is easier for investors to find alpha in private markets.
MetLife Downplays Concern Over Commercial Real Estate
MetLife Inc., the biggest US life insurer, downplayed concerns about the faltering commercial real estate market amid signs that occupancy is starting to recover.
Treasury Yields Resume Slide on Latest Sign Labor Market Cooling
Treasury yields resumed their downward slide — with the benchmark 10-year note’s falling to the lowest level since Sept. 1 — after the latest sign of labor-market cooling bolstered bets that a Federal Reserve shift to policy easing isn’t far off.
Taiwan’s Big China ETF Bust Shows Extent of Financial Decoupling
Taiwan’s economic and financial decoupling from China has deepened with the near-collapse of what was once the world’s largest Chinese bond exchange-traded fund market.
Weighty Matters for Canada
The Canadian economy is buckling under the weight of higher interest rates, household debt and immigration.
2024 Global Outlook: The Big Picture
Our outlook for 2024 is for a gradual U-shaped recovery composed of seemingly chaotic movements in economic data with turning points in policy rates and earnings growth.
Bill Gross Recession Bet Has Minted Millions From Bond Rally
One of the big winners from the sudden furious rally in the US bond market: Bill Gross.
ISM Services PMI Continued Expansion in November
The Institute of Supply Management (ISM) has released its November services purchasing managers' index (PMI). The headline composite index is at 52.7, which was above the 52.0 forecast. The latest reading marks the 11th straight month the index has been expansion territory.
S&P Global Services PMI: Renewed Upturn in November
The November U.S. services purchasing managers' index (PMI) conducted by S&P Global came in at 50.8, consistent with the forecast. The latest reading keeps the index in expansion territory for the 10th straight month.
Stifel Sees S&P 500 Delivering Little Returns Into Early 2030s
Don’t look to US stocks for big gains next year — or for at least the next decade. That’s the bold take from Stifel Nicolaus & Co.’s Barry Bannister, one of a few Wall Street strategists who predicted the rally in the first half of 2023.
Diversity is Good for Business
As the profession requires more advisors, targeting a wider talent pool and creating a structure to support their success is essential.
Prudence Still Necessary in Bond Market
November was kind to fixed income investors as bonds posted their best month of 2023. High yield corporate debt participated in that rally as highlighted by the fact that the largest junk bond exchange traded fund is higher by nearly 4.3% over the past month.
Mind the Supply: The Counterintuitive Impact of Higher Rates on U.S. Housing
The dearth of homes for sale has underpinned the housing market’s surprising resilience and may further lift home prices despite reduced affordability.
What ETFs Were Popular in November?
With more than 3,000 ETFs to cover and many new ones launching each month, it is easy to forget. For many people, S&P 500 Index-based ETFs remain the core of their portfolio. Heading into 2024, these products topped the latest monthly flow leaderboard.
Recessionary Indicators Update. Soft Landing Or Worse?
I previously discussed a slate of recessionary indicators with high correlations to recessionary onsets. However, as we head into 2024, many Wall Street economists predict a “soft landing” or “no recession” outcome for the economy.
Talking to Your Clients About the Meaning of Money This Holiday Season
Use the holiday season to understand what's important to our clients and what they want to achieve with their money.
Yield Hunt Is Finally Back On for Buyers in Emerging Markets
Across Wall Street, analysts and investors had cheered 2023 as the year of emerging markets, only to be burned by a relentless climb in US Treasury yields. Now, as the Federal Reserve looks set to end its most aggressive monetary tightening campaign in a generation, they’re at it again.
Morgan Stanley’s Wilson Says December to Be Rocky for Stocks
US stocks are headed for a rocky end to the year after rallying in November as bond yields fluctuate, according to Morgan Stanley’s Michael Wilson.
Should You Buy Bitcoin? All You Need to Know After Token Hits $40,000
Bitcoin has jumped more than 140% this year to outstrip other investments like stocks and gold, and optimism for further gains is high.
Bond Market Euphoria Shifts to Debate Over How Low Fed Will Need to Go
A torrid bond market rally shows traders are convinced the Federal Reserve’s rate-rising cycle is over. The debate now turns to when central bankers start cutting, and by how much.
Chart of the Week: Advisors Willing to Take on Rate Risk
Many advisors and investors in 2023 have turned to fixed income ETFs with an average duration of less than one year. Taking on very little interest rate risk through duration has been rewarding as well.
2 Strategies to Capitalize on Increased Market Dispersion
After the underperformance of stocks and bonds last year, it’s no surprise that diversification strategies are a significant focus this year. Alternatives continue to garner advisor and investor interest as market dispersion grows, including managed futures and long/short strategies.
Labor Squeeze: Auto and Airline Deals Drive US Margin Challenges
Recent labor agreements in the auto and airline industries spotlight the profitability conundrum facing US companies—and equity investors.
Alternative Allocations: Alternatives by Franklin Templeton—Access Granted
Franklin Templeton recently hosted due diligence meetings with financial advisors where Tony Davidow, Senior Alternatives Investment Strategist, led discussions focused on alternative investments.
Regional-Bank Debt Is a Bargain to Buyers Betting Worst is Over
Money managers including Invesco Ltd. and Loop Capital Asset Management are bullish on regional-bank bonds, wagering that the debt will perform better than the broader market as fears about funding costs settle down.
Powell Brushes Off Rate-Cut Bets as Fed Moves Carefully
Federal Reserve Chair Jerome Powell pushed back against Wall Street’s growing expectations of interest-rate cuts in the first half of 2024, saying the committee will move cautiously with borrowing costs at a 22-year high but retain the option to hike further.
Healthcare Stocks: Positioned for a Smoother Ride in 2024?
In the wake of recent underperformance, healthcare is entering the new year with compressed valuations just as innovation picks up and a post-COVID reset winds down. That should make for a positive outlook, says Janus Henderson Portfolio Managers Andy Acker and Dan Lyons.
S&P Global US Manufacturing PMI™: Renewed Decline in November
The November S&P Global US Manufacturing PMI™ fell to 49.4 from 50.0 in October, signaling a renewed decline in operating conditions. The latest reading was consistent with expectations. The index has now fallen back into contraction territory after a brief 1-month expansion.
Black Friday Expectations & AI Hype
The likes of consumer resiliency based on the earliest readings on Black Friday sales and the degree to which the Artificial Intelligence theme continues support the idiosyncratic tendencies of the markets concentrated in the Magnificent 7.
Gold’s Q4 Rally Continues, Experts Calling for an Even Better 2024
The fourth quarter has seen a strong performance from gold. In early October, the price of gold stood at $1,820 per ounce, according to Kitco, and looked as if it would continue to drop in value as it had done the previous five months.
The Big Four Recession Indicators: Real Personal Income Increases in October
Personal income (excluding transfer receipts) rose 0.3% in October and is up 5.4% year-over-year. However, when adjusted for inflation using the BEA's PCE Price Index, real personal income (excluding transfer receipts) was up 0.3% month-over-month and 2.3% year-over-year.
JPMorgan’s S&P 500 Outlook for 2024 Is Grimmest on Wall Street
As a rush of Wall Street strategists call for all-time highs in US stocks in the year ahead, JPMorgan Chase & Co. stands apart, releasing the gloomiest forecast so far among its peers.
Commodities May Have Struggled, But Bright Spots Exist
Broad commodities have struggled this year. The S&P GSCI Index is down more than 5% year-to-date. However, there are still opportunities when investors dig a little deeper, according to Teucrium’s Senior Portfolio Specialist Jake Hanley.
Beware the New Consensus on the Global Economy
Despite an increasingly challenging economic and geopolitical environment, the global economy performed better than expected over the past year. But although analysts’ projections for 2023 were too pessimistic, it appears that consensus forecasts for the coming year may have have swung too far in the opposite direction.
What You Might Have Missed at Tuesday’s Alternatives Symposium
On November 28, 2023, VettaFi hosted an Alternatives Symposium with an excellent turnout of nearly 750 advisors and investors registered for the event.
Macro Markets Podcast Episode 44: Corporate Credit Review and Preview
Maria Giraldo discusses the performance of the corporate credit sector this year and the rationale for our cautiously optimistic outlook for 2024.
Industry Experts Share Upbeat Crypto Outlook for 2024
Often misunderstood, crypto has an important role to play in the alternatives sleeve of a portfolio.
Year-End Strategies for Advisors. Will You Make Santa’s “Nice” List?
As I start thinking about Christmas this year, I decided I want to be on the nice list again, so I put together some useful year-end actions and ideas for financial advisors.
The Commodities Outlook Entering 2024
Commodities entered 2023 behind a strong performance in 2022. For investors revisiting their portfolios ahead of 2024, it may be worth assessing the commodities outlook. From energy to precious metals, commodities can add meaningful diversification to a portfolio.
U.S. Outlook: One Thing Leads to Another
Economic pain is likely in 2024, but that doesn’t mean stocks will struggle all year, especially if there is a continuation of the rolling recessions that have hit the economy.
Adyen-Led Fintech Comeback Faces Wall of Worries
The rebound in Adyen NV and its European fintech peers this month has been notable, but investors should brace for a bumpy road ahead.
Richmond Fed Manufacturing Activity Slowed in November
Fifth district manufacturing activity slowed in November, according to the most recent survey from the Federal Reserve Bank of Richmond. The composite manufacturing index fell to -5 in November from 3 in October, marking its 1st negative reading in the past 3 months. This month's reading was worse than the forecasted reading of 1.
Consumer Confidence Bounces Back After Three Straight Monthly Declines
The Conference Board's Consumer Confidence Index® bounced back in November following three straight monthly declines. The index increased to 102.0 from October's downwardly revised reading of 99.1. This month's reading was better than expected, exceeding the 101.0 forecast.
Sharp US Stock Rally Is Running Out of Steam, Citi Strategists Say
The rally that led the S&P 500 to one of its best November gains in a century is now running out of steam, according to Citigroup Inc. strategists.
Goldman Says Sharp Drop in Volatility Is Opportunity for Hedging
The recent sharp pullback in volatility as year-end approaches creates hedging opportunities given the cloudy outlook for equities, according to Goldman Sachs Group Inc. strategists.
Opportunities in Private Credit: Stepping in as Banks Step Out
As banks pull back from many types of lending, demand for capital is outpacing supply, providing the best potential opportunities in private credit since the GFC.
Eye Active ETFs to Ride Potential Rate Cuts
Don’t look now, but markets are once again getting excited about the prospect of potential rate cuts. Following months defined by rising rates, investors are looking forward to inflation cooling sufficiently for the Fed to finally cut.
AI Heralds a Technology Paradigm Shift—But Not So Fast
Technological turning points in the past have taught important lessons about how to identify long-term winners from transformative innovation.
New Ways for Advisors to Access Alternative Investments
With relentless market volatility and other stubborn headwinds, advisors must find an adequate portfolio balance for their clients. What role will alternative investments play in offsetting market challenges? In this episode, we dive into this question with Andrea Mody, U.S. wealth private markets head at Macquarie Asset Management. We discuss how Macquarie continues to be a trailblazer for the democratization of alternatives, how traditional asset managers are reorganizing to incorporate alternatives, the roadblocks for allocation and Andrea’s outlook for the space.
The Missing Piece to Advisors’ End-Of-Year Planning Strategies
I'll share the impact healthcare costs have on financial plans, the critical healthcare information to include (such as medical tax deductions and IRMAA), how to budget for costs in a world of variables, and tangible strategies to implement during open enrollment and beyond to ensure clients are on the optimal coverage.
Direct Lending: One Arrow in the Private Credit Quiver
How can RIAs avoid missing the mark when it comes to private market investments?
Dallas Fed Manufacturing: Business Conditions Continue to Worsen in November
The Dallas Fed released its Texas Manufacturing Outlook Survey (TMOS) for November. The latest general business activity index came in at -19.9, down 0.7 from last month. This is the third consecutive monthly decline in the general business activity index and marks the 19th consecutive month it has been in contraction territory.
Fiscal Deficits Drive Higher Inflation
The growth of the federal deficit in the post-COVID era, coupled with the political unwillingness to increase taxes, foretells higher-than-historical inflation rates, according to new research.
Commodities and Cryptocurrency Offer an Alternative
VettaFi will be hosting an Alternatives Symposium tomorrow, November 28. We are covering a range of alternative topics.
The Rise in Gold, Silver and Bitcoin Prices Captures the Mood of the 2023 Holiday Season
The 2023 holiday season is officially upon us. Happy Black Friday and Cyber Monday to those who observe!
Disruptive Tech Theme of the Week: Zeno Mercer Talks AI and Robotics
This is an exciting time for artificial intelligence and robotics stocks, with many companies reporting and some major news announcements. This week, for the Disruptive Theme of the Week, I reached out to VettaFi’s Senior Research Analyst, Zeno Mercer, for an update on the latest developments in AI and robotics.
Bond Traders Boost US Recession Bets as Growth Falters
Treasury investors are turning increasingly skeptical the Federal Reserve will deliver a soft landing for the US economy next year, elevating concern of a looming recession over the risks posed by inflation and a swelling budget deficit.
US Consumer Year-Ahead Inflation Expectations Rise Further
US short-term inflation expectations climbed to a seven-month high in November and longer-run price views remained at levels not seen since 2011.
Climate Funds Look to Regain Footing After Three Down Years
Growth prospects for renewable energy will be a central plank of discussions when world leaders start gathering next week in Dubai for COP28.
Why Asia Matters
CIO designate Sean Taylor gives his take on what Asia has to offer global and emerging markets investors, from growth, to diversification, to innovation.
October CPI Inflation: Just What the Dr. Recommended
October news on CPI inflation was all the doctor recommended and has markets spinning and repricing the Federal Reserve’s (Fed) potential path forward.
Is China Investable?
Reasons prompting concern around investing in China may be improving, but volatility is likely to remain characteristic of Chinese stocks in 2024.
Energy Sector Outlook, BEEZ ETF, & T+1 Settlement
VettaFi’s Stacey Morris recaps the year in energy ETFs and offers an outlook for 2024. Honeytree’s Liz Simmie spotlights their recently launched U.S. Equity ETF (BEEZ) which focuses on “responsible growth”. Brown Brothers Harriman’s John Hooson discusses the potential pros and cons of ETFs moving to T+1 settlement next year.
Inflation Could Come Back When You Least Expect It
The latest inflation report, showing that price increases slowed in October, suggests that the US just might get the “immaculate disinflation” that everyone is hoping for: Inflation will fall to its pre-pandemic levels and remain there, and the US will avoid a recession. Allow me to make the pessimist’s case that we are not out of the woods yet.
If You're in Cash, You Risk Missing Out, Bond Managers of $2.5 Trillion Say
For investors stashing record sums in cash, US bond managers overseeing a combined $2.5 trillion have a bit of advice: It’s time to put that money to work.
Market Viewpoint
David Dali, Head of Portfolio Strategy, provides his 12-month outlook for global equity markets.