Putnam Perspectives

Putnam's investment professionals offer compelling analysis of evolving market themes.
Robert D. Ewing, CFA, and Nick C. Thakore

Earnings reports offer new clues
Robert D. Ewing, CFA, and Nick C. Thakore, Co-Heads of U.S. Equities, 2/26/2015

Our outlook for earnings growth is a bit more cautious for the coming year. Continue

Market Outlook

Economic and market analysis from Putnam's Asset Allocation, Fixed Income, and Global Equity teams.

Author Title Date Type
D. William Kohli, Michael V. Salm, and Paul D. Scanlon, CFA

D. William Kohli, Michael V. Salm, and Paul D. Scanlon, CFA, Co-Heads of Fixed Income

Why the economy looks solid

Despite jittery global markets, we believe consumer and trade data point to a balanced and healthy U.S. economy.

2/19/2015

Article

Putnam Global Asset Allocation Team

Putnam Global Asset Allocation Team

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.

2/10/2015

Article

Jason R. Vaillancourt, CFA

Jason R. Vaillancourt, CFA, Co-Head of Global Asset Allocation

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.

1/30/2015

Article

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jayme_lacour@putnam.com

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 ...

1/30/2015

Article

D. William Kohli

D. William Kohli, Co-Head of Fixed Income

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.

12/30/2014

Article

Gerard P. Sullivan

Gerard P. Sullivan, Portfolio Manager

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.

12/23/2014

Article

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Putnam Investments

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.

12/22/2014

Article

Thalia H. Meehan, CFA, and Paul M. Drury, CFA

Thalia H. Meehan, CFA, and Paul M. Drury, CFA, Portfolio Managers

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.

12/16/2014

Article

Aaron M. Cooper

Aaron M. Cooper, CFA, Director of Global Equity Research

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.

12/11/2014

Article

Putnam Global Asset Allocation Team

Putnam Global Asset Allocation Team

Commodities may gain diversification potential

Oil and other commodities look unattractive from a return perspective, but their diversification potential may be improving.

12/5/2014

Article

Simon Davis and Shep Perkins, CFA

Simon Davis and Shep Perkins, CFA, Co-Heads of International Equities

Slumping world offers recovery potential

Europe and Japan, facing structural challenges, offer underappreciated recovery potential, even as emerging markets face new headwinds.

11/26/2014

Article

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Putnam Investments

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 ...

11/26/2014

Article

Putnam Global Asset Allocation Team

Putnam Global Asset Allocation Team

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.

11/21/2014

Article

D. William Kohli, Michael V. Salm, and Paul D. Scanlon, CFA

D. William Kohli, Michael V. Salm, and Paul D. Scanlon, CFA, Co-Heads of Fixed Income

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.

11/19/2014

Article

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Putnam Investments

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.

11/11/2014

Article

Jason R. Vaillancourt, CFA

Jason R. Vaillancourt, CFA, Co-Head of Global Asset Allocation

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.

11/6/2014

Article

Robert D. Ewing, CFA, and Nick C. Thakore

Robert D. Ewing, CFA, and Nick C. Thakore, Co-Heads of U.S. Equities

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.

11/4/2014

Article

Michael V. Salm

Michael V. Salm, Co-Head of Fixed Income

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.

10/27/2014

Article

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Putnam Investments

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 ...

10/21/2014

Article

Putnam Investments

Putnam Investments

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.

10/17/2014

Article

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Putnam Investments

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 ...

10/8/2014

Article

Michael V. Salm

Michael V. Salm, Co-Head of Fixed Income

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.

10/2/2014

Article

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Putnam Investments

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 ...

9/30/2014

Article

Michael V. Salm

Michael V. Salm, Co-Head of Fixed Income

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.

9/2/2014

Video

Simon Davis and Shep Perkins, CFA

Simon Davis and Shep Perkins, CFA, Co-Heads of International Equities

ECB policies navigate uncharted waters

The European Central Bank is undertaking measures to reduce the risk of deflation and encourage lending, but they are not a guaranteed cure for the region.

8/15/2014

Article

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Putnam Investments

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 ...

8/6/2014

Article

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Putnam Investments

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 ...

7/8/2014

Article

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Putnam Investments

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 ...

5/5/2014

Article

The views and opinions expressed are those of the speaker, are subject to change with market conditions, and are not meant as investment advice.