Investment Outlook

 

Economic Outlook Highlights

July 2017     |  Economic Outlook Highlights   (PDF/New Window)
July 2017     |  Economic Outlook Highlights  (PDF/New Window) July 2017 | Economic Outlook Highlights
The economy is on track for growth close to its 2.6% second-quarter rate through the end of this year. Remarkably low recession risks for an eight-year expansion primarily reflect interest rates suppressed by ample “liquidity” and subdued inflation plus broad-based, manufacturing and non-manufacturing support to growth.
View an archive of Economic Outlook Highlights, brief summaries of the economic and financial market outlook along with issues affecting stocks and bonds.


Briefings and Commentaries

August 11, 2017 – Market Comment (PDF/New Window)
August 11, 2017 | Market Comment (PDF/New Window) August 11, 2017 | Market Comment
A wake-up call from Asia. The flight to quality triggered by the war of words between North Korea and the U.S. sent a simple portfolio of risk assets down to a seven-week low against their ”safe-haven” counterpart. S&P 500 stocks ended the week at a one-month low, aggravated by retailers’ disappointing earnings reports. By contrast, the 10-year Treasury yield slipped below 2.2% for the first time since late June in a flight-driven rally reinforced by fresh signs of “disinflation.” Gold finished at a two-month high, the safe-haven yen’s dollar rate at a level not seen since April and the stock market’s VIX index of market volatility “spiked” to its highest reading since November. The S&P 500’s broad and deep sell-off from Monday’s record high extended to 10 of 11 sectors and to 105 of the 127 reporting industry groups, aggravated by a narrowing rally relying on just five companies for nearly 40% of the benchmark’s gain in the thirty days through Monday’s high versus less than 28% by the top five year-to-date through early July. Equally narrow was the second quarter’s impressive, double-digit earnings growth—the first such back-to-back gain since 2011— supporting the market’s rise, with tech, energy and financial services accounting for over 70% of the profits gain.
View an archive of briefings and commentaries that provide detailed analyses of the current economic climate and investment conditions.

Gary Schlossberg

Senior Economist

Gary SchlossbergAs senior economist, Gary Schlossberg is responsible for assessing the economic environment and providing input to the equity and fixed-income portfolio management teams at Wells Capital Management.

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