Explore our thinking about today's financial markets
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Inflation risk for retirement savers calls for an active approach
July 19, 2021 | Retirement
With inflation on the rise in 2021, we explain our analysis of long-term inflation hedges and why we favor more dynamic strategies.
Capital Markets Outlook
Fed's hawkish pivot shouldn't stoke inflation fears
July 14, 2021 | Capital Markets Outlook
We take a closer look at inflation, unfilled jobs, and semiconductor shortages.
Fixed Income Outlook
Bond markets in flux on rates and inflation outlook
July 28, 2021 | Fixed Income Outlook
Global financial markets were mixed during the second quarter.
Equity Insights
The small-cap index changes, but our process stays the same
July 1, 2021 | Equity Insights
The makeup of the small-cap growth universe can change dramatically over time, but we focus on what drives stock prices over longer time periods.
Inflation risk for retirement savers calls for an active approach
With inflation on the rise in 2021, we explain our analysis of long-term inflation hedges and why we favor more dynamic strategies.
Don't overlook international small caps
When focused on diversification one asset class that is often overlooked is non-U.S. small-caps.
Time-as-a-Service, anyone?
The evolution of time-as-a-service illustrates the changing nature of economic moats, competitive advantages that protect a company’s market share.
China technology stocks in a reboot, not a shutdown
China’s technology sector has cratered since February and we view the selloff as a buying opportunity in China tech.
Clean energy: Myths, reality, and opportunities
We believe many companies are poised to benefit significantly from the big shift toward renewable energy.
Company diversity and social justice
Company diversity is a step toward equity and equity is a step toward inclusion, which is important to company success.
Tapping into the growth potential of small-cap stocks
Investors may want to consider the potential of small-cap stocks as they review allocations amid changing economic cycles.
With people saving more, it may be time for a 401(k) reset
During the pandemic, workers for a time saved more than ever before, which could represent an opportunity for a 401(k) reset.
China leads, other emerging markets lag
China is leading the economic recovery among emerging-market countries, buoyed by stimulus and stringent COVID-19 measures.
U.S. economy remains a centerpiece in 2020 vote
Fiscal policy will be a key focus for investors after the November election.
The future is happening faster now
We rarely see as much disruption as we have seen in 2020, and we believe this offers investment opportunities.
Perspective on keeping perspective
Five months into our pandemic environment, financial professionals are looking for ways to keep their work in perspective.
Deglobalization creates new winners in China
The trade war, pandemic, and the Made in China 2025 initiative are resulting in a deglobalization trend and opportunities in China.
Staying at home increases spending on homes
As the economy continues to be challenged by the COVID-19 pandemic, we are seeing two notable trends in the U.S. housing industry.
V-shaped recovery proving elusive
The U.S. and global economic recoveries are unlikely to be “V-shaped” as businesses and consumers remain wary of returning to pre-pandemic behavior.
Vaccine is a wild card for the economy
A vaccine for the coronavirus will be supportive of risky assets even if the economic benefits take longer to materialize.
The role of asset allocation in glide path selection
Knowing the investments and how they are combined in a glide path is crucial in target-date fund selection.
Disruptive change: A growth driver for small companies
Disruptive change is often the force that enables small companies to compete against their larger peers.
Navigating market turmoil: Our intrinsic value compass
Our investments in the communications sector help illustrate our intrinsic value approach to finding opportunities.
Sustainability research: A week in the life of our team
Our research includes discussions with company managements, other researchers and investors, industry and subject experts, and non-profit organizations.
Behavioral shifts bring investment opportunities
Many businesses that have been resilient and strong during the COVID-19 crisis are likely to become even stronger in the aftermath.
Coronavirus tests limits of U.S. stimulus plans
The coronavirus pandemic is testing the limits of fiscal and monetary policy responses from Congress and the Federal Reserve to boost the economy and calm financial markets.
Sustainable value: Gender diversity on corporate boards
Diversity in companies — including gender diversity — can have a positive impact on company performance and strategic ability.
ESG issues alive in healthcare
Our team analyzes medical costs and access as ESG issues affecting human well-being and sustainable economic development.
What’s next for the hard-hit financials sector?
The financials sector has been among the hardest hit from the COVID-19-induced equity market selloff, but there are reasons for optimism.
Perspectives on COVID-19
Putnam’s health-care analysts and portfolio managers offer their outlooks and perspectives on key aspects of the COVID-19 pandemic.
Oil’s wild ride and what lies ahead
Demand for oil has collapsed as the coronavirus pandemic devastates the global economy and curbs much of the need for fuel from companies and consumers.
Navigating bond yields
The trajectory of bonds yields will depend on the Federal Reserve's policies and fiscal stimulus amid a sharp global economic downturn.
Investing for growth in volatile markets
Putnam portfolio managers discuss managing risk and finding investment opportunities in challenging markets.
Help plan sponsors be strategic fiduciaries
As companies react to the economic shock, advisors can offer ideas to help plan sponsors in their role as strategic fiduciaries for their 401(k) plans.
Social distancing generates recession
A recession is looming in the United States as COVID-19 and social distancing take a toll on economic activity.
Manager insights: Bulls, bears, and bond markets
With the extreme swings in the market over the last few weeks, several of Putnam’s senior fixed-income managers shared their insights on the bond markets.
Equity opportunities in challenging markets
Putnam’s equity investment professionals recently discussed market conditions, their strategies, and their outlooks.
Recessions and the equity market: A framework for investors
In these days of significant market volatility, investors are looking for a framework.
Stable value as an option for DC plans
We outline key considerations for DC plan sponsors considering stable value funds as a capital preservation option.
The Fed reacts to coronavirus economic risks
The Fed made a proactive move to reduce the federal funds rate by 50 basis points.
The impact of coronavirus on markets
The spread of coronavirus infections is having an impact on China’s GDP and on financial market sentiment worldwide.
The SECURE Act opens a new frontier for 401(k)s
The SECURE Act represents significant changes to retirement savings and could drive a expansion of workplace retirement savings plans including 401(k)s.
Solutions to antibiotic resistance
As the focus on natural ingredients intensifies, so has concern about antibiotic use in food production.
SECURE Act expands access to retirement plans
The SECURE Act of 2019 makes many changes to rules governing retirement savings including provisions to expand access to retirement plans.
Millennial money drives 401(k) plan evolution
Growing in number, the Millennial generation is having an impact on the evolution of 401(k) plan design.
Why stable value funds deserve a closer look
Capital preservation strategies are not all alike, and plan sponsors need to carefully evaluate the options including money. market and stable value funds.
Linking impact and performance
Often, the same elements that create environmental and social benefits are driving positive financial performance.
Engaging with allies to advance sustainable investing
We collaborate with institutions to examine and understand the financial impacts of sustainability.
To reduce employee stress, increase wellness
By offering financial wellness programs in the workplace, employers may help employees reduce money-related stress.
Talking sustainability with CEOs
We have ongoing dialogue with the management teams of companies in which we invest, across a wide range of sustainability-related topics.
The SECURE Act: Completing an unfinished masterpiece
Congress is considering the SECURE Act, which would enhance workplace retirement savings plans and extend access to millions of workers.
Employers add student loan aid to retention toolkit
College debt set a record high this year and many employers have added student loan aid to their benefit offerings to attract and retain workers.
The 3 Rs of a retirement plan
It is important to consider whether your retirement plan is on track to help meet the goals of retirement, recruitment, and retention.
A success score for the 401(k)
A traditional gauge of success for the 401(k) measures inputs, but companies also need to track outcomes to determine if a plan is successful.
Actively targeting inflation risk for retirement savers
We explain why a dynamic approach to hedging inflation risk in a target-date fund may be a better way to protect a retirement nest egg.
Investing for impact | Q&A with Stephanie Henderson
A member of Putnam's sustainable investing team describes her motivations for spreading ESG fluency throughout the firm to enhance fundamental insights.
Market volatility returns to "old" normal
Our outlook for stock market volatility sees the levels reached in 2018 continuing, in part because these levels were close to the long-term norm.
401(k) reaches milestone as innovation continues
As the 401(k) reaches milestone, the workplace savings plan continues its evolution, adapting to changing demographics and savers’ needs.
ESG Outlook for 2019
We see increasing evidence that systems thinking is becoming more prevalent and influential throughout corporations and the investment community.
What November means for 2019
The events of November provide a fresh view of two key risks facing the economy in 2019 — a hawkish Fed and an escalation of the trade war.
Bigger tax refunds may help boost retirement savings
Projections of larger tax refunds this year could mean an increase in contributions to retirement savings.
How company diversity can help performance
The potential to improve work performance is perhaps the most intriguing and least understood argument for diversity — and worth examining in more depth.
Use wellness to gain wealth
New research found that a worker who focuses on wellness may save nearly $100,000 more for retirement than someone who does not manage their health well.
October stock market volatility may signal a shift
Recent stock market volatility reflects a process of pricing in the fact that the global growth outlook has diverged.
Calibrate equity allocations with higher savings rates
Evidence of higher savings rates by plan participants make it reasonable to consider lower equity allocations across the glide path of target-date funds.
How to plan more rationally for longevity risk
Longevity risk — the possibility outliving one's money in retirement — is a genuine risk, but data suggests that many people overestimate its likelihood.
Retirement savings receive attention on Capitol Hill
A number of bills to reform retirement savings are alive in the U.S. Congress this year.
Shaping the curve in glide path design
In designing an optimal glide path for a target date fund, it is critical to focus on portfolio size, investor time horizon, and volatility.
Putting savers at the center of retirement plans
In the past decade, investors have poured significant assets into target date funds, but savings in retirement vintages have been shrinking.
Key risks to consider in glide path design
Sequence risk is the key risk that target-date investment managers need to address along the glide path.
Sustainable investing: Assessing the choices
Sustainable investing is growing in popularity, and investors should be thoughtful about choosing from a range of strategies and portfolios.
HSAs may help workers save more for retirement
Workers saving in both health savings accounts (HSAs) and 401(k) plans tend to save more in their 401(k).
Are international stocks truly cheap?
On the surface, U.S. stocks appear more expensive than international stocks, but a quantitative comparison reveals the impact of sector valuations.
Health savings accounts could add to retirement wealth
Educate employees about the advantages of a health savings accounts as a way to build flexible long-term assets.
Just how cheap are European equities?
Our analysis finds that industry group weightings play a significant role in valuation discrepancies between U.S. and European equities.
Are millennials with HSAs thinking about retirement?
More millennials may contribute to health savings accounts in recent years, but they may not be aware of the potential to save for retirement.
Looking for impact in CEO compensation
It’s important for investors to be able to understand how a company’s performance relates to CEO compensation.
Longevity and medical costs – education for the great unknowns
Understanding the impact of longevity and medical costs on savings requires education and a proactive approach to saving.
Avoiding retirement savings shortfalls requires a team effort
Plan features, employer match, deferral rates, and investor education all work together to help participants avoid retirement savings shortfalls.
Using and enhancing ESG investment data
ESG data is having investment impact but is still evolving, and stands to benefit from feedback offered by fundamental analysts.
What motivates millennials to save for retirement?
Recent surveys offer clues about retirement plan features and investment options that might motivate millennials to save more.
Choosing an investing glide path to retirement
When it comes to saving for retirement, a target-date fund offers a convenient feature — a glide path that systematically manages diversification.
Are millennials missing out on retirement tax advantages?
Millennials are saving at a higher rate than certain older generations, but may be missing out on the tax advantages of workplace savings plans.
Why Brazil's crisis creates new concerns
The revelations of May 17 may pose a threat to President Temer's administration, and therefore a threat to Brazil's short- and medium-term economic outlook.
Why rates matter to stocks, too
Risk factor analysis shows that equity market sectors that act like “bond proxies” may be more sensitive to changes in interest rates than bonds themselves.
See the dove in the Fed's dot plot
The market sees a more hawkish Fed in the December 2016 rate hike, but we see see signs of a dove in the Fed's dot plot.
Watch the euro as Italy votes
We are watching the referendum in Italy this weekend for yet another existential crisis for the euro.
Diversifying stable value with traditional GICs
Stable value portfolios that avoid traditional GICs may be missing a diversification opportunity that also offers liquidity.
Italy's bank troubles challenge EU
Troubled banks in Italy pose a new challenge to the EU, one that has been compounded by the U.K.'s vote in favor of Brexit.
Fed downshifts on pace of rate hikes
The Fed's “dot plot” in March, representing individual forecasts by 17 Fed policymakers, showed a reduction in the number of rate hikes for 2016.
Dividends rose in 2015 despite volatility
A majority of the companies in the S&P 500 Index have increased their dividend each year for several years running.
Navigating rates as the Fed steers a course
With the Fed embarked on a cycle of interest rate increases, investors face a challenge to navigate rates in their fixed-income portfolios.
Constrained credit threatens growth
Stock market rallies often need to climb a wall of worry, and we see that wall getting higher.
How alts have performed in the long run
Comparing the long-term returns and volatility of alternative investments can provide clues on their potential for diversifying a portfolio.
The views and opinions expressed are those of the speaker, are subject to change with market conditions, and are not meant as investment advice.