Thoughts on the Market

The hole in U.S. state budgets caused by coronavirus-driven revenue shortfalls will likely affect more than just muni bond investors. Head of Public Policy Michael Zezas explains.

As the rally in U.S. equities takes a break, investors may want to position for "early cycle." And that means re-thinking portfolios just as downbeat economic and earnings data arrives.

Why did April’s stock market gains seem oddly disconnected from recent poor economic data? Chief Cross Asset Strategist Andrew Sheets has the answer.

Consensus on the dollar has been bearish for years, only to be proven wrong time after time. But Global Head of Macro Strategy Matthew Hornbach says the mechanics of supply and demand could change that outcome.

As Congress debates aid for state governments, for investors, the principal concern is that a lack of additional federal aid might further depress state spending and drag on economic growth.

As some states begin to loosen quarantine restrictions, "stay at home stocks" may no longer be the place to be. Chief Investment Officer Mike Wilson explains.

Investment strategies tied to the business cycle are still relevant, especially as our key internal indicator shows the cycle has moved into a new phase. Andrew Sheets, Chief Cross-Asset Strategist, makes the case.

Congress has readied more funds to support U.S. businesses and households in order to shorten the pandemic-induced downturn. How far will they go? Chief U.S. Economist Ellen Zentner and Head of Public Policy Research Michael Zezas discuss the scale of the stimulus and its limits.

Congress has readied more funds to support U.S. businesses and households in order to shorten the pandemic-induced downturn. How far will they go? Chief U.S. Economist Ellen Zentner and Head of Public Policy Research Michael Zezas discuss the scale of the stimulus and its limits.

Although it remains to be seen how fast the U.S. can “re-open,” in the near term, markets may be betting on an economy that will normalize faster than feared.