Global Portfolio Strategy | July 10, 2020

Stocks continued their strong run in June, despite rising COVID-19 cases in several western and southern states. Reopening progress, better-than-expected economic data, optimism around vaccine prospects, and the likelihood of more stimulus offered support. We have...

Global Portfolio Strategy | June 9, 2020

Investment Takeaways Market pundits may have to revisit the popular “Sell in May” adage as stocks rose for the seventh May in the past eight years. The disconnect between the strong stock market rally in the S&P 500 Index from March lows and the economic impact...

Global Portfolio Strategy | May 11, 2020

Investment Takeaways As May began, investors continued to try to reconcile the strong rebound in stocks with the devastating economic damage from COVID-19. Given the strength of the rally since the March lows, in our view, the risk of a correction in the short term...

Global Portfolio Strategy | March 10, 2020

The COVID-19 outbreak (coronavirus) roiled markets over the past two weeks, putting the S&P 500 into correction territory and near a 20% bear market decline. Though new cases in China slowed during the month, data out of China pointed to economic contraction and...

Global Portfolio Strategy | February 11, 2020

Data reported in January and early February reflected continued, moderate growth in the U.S. economy. U.S. manufacturing data improved from weak levels, defense drove durable goods order growth, and underlying data on the U.S. consumer and job growth was solid. The...