Treasuries have been under pressure in recent months, with the 10-year yield hitting 3% for the first time since late 2013 (see this week’s Bond Market Perspectives) due to a combination of factors including expectations of higher economic growth and inflation, as...
Macro View Daily Insights How much do interest rates matter for EM equity investors? Over short-term periods, like what we are experiencing now, rising interest rates tend to cause higher volatility for emerging market (EM) stocks. However, over intermediate and...
COMPASS CHANGES None. INVESTMENT TAKEAWAYS Our 2018 earnings forecast for S&P 500 Index companies is $152.50. Assuming a trailing 12-month price to-earnings (PE) ratio of 19–20, we believe the S&P 500 would be fairly valued in the range of 2950–3000 by year...
As our LPL Chart of the Day shows, European economic data reached a noteworthy low on May 7, after Citi’s Economic Surprise Index for the Eurozone dipped beneath -100 for the first time since 2011. (Citi’s surprise indexes average economic surprises compared with...
Macro View Daily Insights Economic growth forecasts tracking above 3%. With half of the second quarter now in the rearview, consensus forecasts are tracking to 3.1% gross domestic productgrowth for this quarter, while forecasts from the Atlanta and New York Federal...
KEY TAKEAWAYS The 10-year Treasury yield recently crossed the psychologically important 3% level for the first time since December 2013. For investors, this means that Treasuries are more attractive than they have been in some time, though rates are still low relative...
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