Putnam’s investment professionals offer compelling analysis of evolving market themes.
Abenomics reaches the boardroom
Simon Davis and Shep Perkins, CFA
Co-Heads of International Equities, March 5, 2015
With the economic changes instituted under Prime Minister Shinzo Abe since he took office in December 2012 slowly taking effect in Japan, companies are increasingly under pressure to deliver higher returns on equity for their investors. Financially, these companies are in an enviable position, with sufficient assets and cash on their balance sheets to be able to withstand substantial economic pressure. The question now is whether company managements can deliver for their shareholders. This potential revolution in corporate ... Read more
Earnings reports offer new clues
Our outlook for earnings growth is a bit more cautious for the coming year.
Why the economy looks solid
Despite jittery global markets, we believe consumer and trade data point to a balanced and healthy U.S. economy.
Winners and losers of cheap oil
When an asset price collapses, the pain is quick and concentrated, but the benefits tend to be more widely dispersed.
Why low oil prices may last
Oil prices are often volatile, but we see some longer term factors at work on both the supply side and the demand side of energy markets.
2015: The year of retirement savings for all workers
Will 2015 be the year that all American workers gain access to a retirement savings plan provided by their employer? It could be. While retirement policy in general did not rise to the ...
Disaggregating the Aggregate Bond Index
The importance of the Barclays U.S. Aggregate Bond Index in the investment world might outweigh the attractiveness of its risk and reward profile.
Market surprises can favor the prepared
While companies strive to meet market expectations, it's often the unexpected changes in markets that can create opportunities for active managers.
Retirement security: Start at the beginning
Until we provide greater access to employer-sponsored savings plans, thousands in this country will never be able to save enough for a dignified retirement.
Tightening supply lifts muni market
Shifting priorities for state and local municipalities is limiting new issuance of municipal bonds, data shows, and the profile of investors is changing.
The U.S. takes the policy road less traveled
The difference between U.S. and European economic growth trajectories may come down to policy paths taken or not taken.
Commodities may gain diversification potential
Oil and other commodities look unattractive from a return perspective, but their diversification potential may be improving.
Slumping world offers recovery potential
Europe and Japan, facing structural challenges, offer underappreciated recovery potential, even as emerging markets face new headwinds.
Who are the 10-percent savers?
To improve the chances of generating a comfortable retirement income, researchers today urge savers with access to a workplace retirement plan to defer 10% or more of their current salary. While saving ...
Wage growth is a test for Fed policy
Wage growth has been missing from the current recovery, but the conditions are in place to test whether this is a structural challenge for the Fed.
Wishing for a weak euro
We have concerns about the indirect approach of the European Central Bank as it seeks to use a weak euro to stimulate growth.
Mid-term elections can lift stocks
In the aftermath of U.S. mid-term elections, it is worth noting the performance of stocks during similar periods in history.
Keeping an eye on Europe's deflation risk
Should deflation emerge in Europe, it may pose a more difficult challenge today than in recent years.
October lows, then highs: Are stocks overvalued now?
Today’s equity landscape brings challenges and opportunities. Read our view on whether U.S. equities still have room to run.
Viewing securitized debt as an alternative
Putnam's fixed-income research finds opportunities in several sectors of the securitized market offer the potential for low correlations with other areas of the bond market.
Plan sponsors tentative in approach to risk
The financial crisis of 2008-2009 forever altered the way retirement savers and retirement plan sponsors view risk. Years later, plan sponsors are more aware of key risks, but haven't taken much ...
Market outlook remains positive
Despite the end of QE3 and other sources of risk, Putnam's market outlook sees attractive potential in stocks and in our diverse fixed-income strategies.
Savers not maxing out 401(k)s
While government continues to eye potential cuts to tax-deferred retirement contributions, the average worker is not taking full advantage of the 401(k) savings maximums allowed by their employer-sponsored plan. Recent research found ...
Dollars tied to bond indexes face risk
2013 marked a watershed moment for index versus non-index sectors in fixed income. We see significant risk in the composition of the index.
Alternative investments gain popularity with plan sponsors
The financial industry responded to the market events of 2008 to 2009 by launching a host of alternative investment products. These products seek to diversify exposure away from traditional fixed-income and ...
Fed weighs addition to policy toolbox
The Fed may have a desire to switch to a different monetary-policy regime, one that would involve using a permanent balance sheet.
Research: 401(k) savers are interested in auto escalation
While use of auto enrollment is rising among 401(k) plans, the adoption of auto escalation - where deferral rates are programmed to rise incrementally over time - has been slower, even ...
Growing the economy: Every penny saved counts
This article originally appeared on LinkedIn. One of the more underappreciated financial activities could be the most powerful tool in moving the dial on our nation's economic growth: saving. To quantify the impact ...
Investor behavior and 401(k) statements
One of the greatest challenges to achieving successful retirement saving outcomes is investor inertia. The lack of willingness to take action can result in a tendency for 401(k) savers to stay ...
The views and opinions expressed are those of the speaker, are subject to change with market conditions, and are not meant as investment advice.