No Chinese Selling of Treasuries in March

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...

Market Update | May 17, 2018

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...

Portfolio Compass | May 16, 2018

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...

Eurozone Data Disappoint

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...

Market Update | May 16, 2018

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...

The Impact of 3% | Bond Market Perspectives | May 15, 2018

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...