Advisor-only Webcast | Putnam's 2021 Investment Framework | January 13, 2021

Active Insights with Chris Galipeau

Senior Market Strategist Chris Galipeau shares research-driven views on the global marketplace from Putnam's active investment teams.

Our 2021 Investment Framework contains the views and opinions of Putnam‘s Equity, Fixed Income, and Global Asset Allocation teams.

Equities


S&P 500

Earnings growth rate, year over year

25.41%


Sectors favored

Consumer discretionary | Industrial

Materials | Technology

Fixed Income


Fed rate policy

Stable

Municipal credit spreads

Stable

Economy


GDP 2021

United States

3.5%

Europe

2.5%

Emerging Markets

4.5%

Download the full write up

Get more Active Insights with the podcast

Get more Active Insights with the podcast

Each episode, Chris Galipeau has an in-depth conversation with a different Putnam portfolio manager to share timely insights on the markets and global economy.

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A season for stock returns

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Tracking PMI data and forward equity returns

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We believe real economic growth is likely to reach levels not seen in the United States since 1983–1984. Our best estimate is for real GDP to approximate 6.5% year-on-year growth in 2021.

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What do yields reveal about inflation expectations?

What do yields reveal about inflation expectations?

Investors can monitor these relationships to understand the underlying drivers of nominal yields.

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Growth, Value, and Recessions

Growth, Value, and Recessions

What equity investment style performs best as the economy enters a recession?

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A look at inflation and investment performance

A look at inflation and investment performance

Investors are concerned about rising inflation going forward. We researched recent history to better understand how different asset classes perform during periods of increasing core inflation as measured by the Personal Consumption Expenditure Core Price Index.

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The January Barometer

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Devised by Yale Hirsch in 1972, the January Barometer states that as the S&P 500 goes in January, so goes the year. The indicator has registered 10 major errors since 1950, for an 85.7% accuracy ratio.

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Putnam's 2021 Investment Framework

January 13, 2021

Putnam's 2021 Investment Framework

Chris Galipeau, Senior Market Strategist
Brian Sullivan, Central Region Manager

U.S. dollar and trends in emerging markets

U.S. dollar and trends in emerging markets

Studying market history may help provide a useful framework for investors as we navigate the recession of 2020. We looked back at the 5 recessions since 1980 as a guide.

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Economic expansions and equity returns

Economic expansions and equity returns

What can history tell us about the length of economic expansions and recessions? And further, what can investors expect from the stock market during economic expansions?

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Post-election update on markets and taxes

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Chris Hennessey, Lawyer and CPA, Putnam Business Advisory Group
Chris Galipeau, Senior Market Strategist
Bill Cass, CFP®, CPWA®, Director Wealth Management Programs at Putnam

Trends in small - and large-cap stocks during recessions

Trends in small - and large-cap stocks during recessions

Studying market history may help provide a useful framework for investors as we navigate the recession of 2020. We looked back at the 5 recessions since 1980 as a guide.

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Growth, Value, and Recessions

Growth, Value, and Recessions

What style performs best as the economy enters a recession? What style performs best as the economy exits a recession?

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S&P 500 Return Attribution

S&P 500 Return Attribution

How have a handful of stocks impacted the year to date return of the S&P 500 index?

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About Chris Galipeau

Senior Market Strategist Chris Galipeau shares investment insights with financial advisors to have a positive impact on client portfolios. He has 28 years of investment industry experience and is a member of the CFA Society Boston and the Market Technicians Association. Follow him on LinkedIn and listen to his Active Insights podcast.