Putnam Perspectives

Explore research driven analysis of evolving market themes.


How the Japan election may influence global interest rates

How the Japan election may influence global interest rates

The Japan election could have consequences for the future leadership of the Bank of Japan and the country's impact on global interest rate trends.

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Using and enhancing ESG investment data

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.

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Why there's nothing wrong with a

Why there's nothing wrong with a "just right" market

When assessing the markets and economy the media often looks for drama, but headlines are our least-used investment tool.

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Value benefits from an expanding economy

Value benefits from an expanding economy

Value stocks have lagged the market in 2017, but if the economy continues to expand, rates rise, and the yield curve steepens, this trend could reverse.

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Spotting unexpected turns in the growth and value cycle

Spotting unexpected turns in the growth and value cycle

While a diversified portfolio should include both growth and value, today’s valuations and economy point to a value cycle.

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Why investor pessimism may be a good sign

Why investor pessimism may be a good sign

Investor pessimism has historically proven to be reasonably effective as a contrarian investment signal, and market sentiment has plunged again this year.

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What two of the best recession signals say today

What two of the best recession signals say today

Two indicators can give the quickest read on whether a recession may be near.

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Why Brazil's crisis creates new concerns

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.

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Crisis abated, it’s time to dust off the old playbook

Crisis abated, it’s time to dust off the old playbook

Today's pro-cyclical, rising rate environment has a playbook with historical precedent.

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Why rates matter to stocks, too

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.

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What higher rates mean for income strategies

What higher rates mean for income strategies

What do higher rates mean after almost a decade of near-zero rates? It's time to reconsider risk in fixed-income portfolios.

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Can Trump follow Reagan's playbook?

Can Trump follow Reagan's playbook?

Trump administration fiscal policy is expected to be similar to Ronald Reagan's measures, but economic conditions today are much different than in 1981.

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Six facts about Dow 20,000

Six facts about Dow 20,000

The 20,000 milestone reached by the Dow Jones Industrial Average (DJIA) garnered major media attention, but that’s due more to the fame of the index.

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Does the market rally really depend on Trump?

Does the market rally really depend on Trump?

The bullish case for stocks assumes that the Trump tax reforms and spending increases will be implemented, but Washington can be unpredictable.

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Taking the temperature of the January effect

Taking the temperature of the January effect

Is the so-called January Effect a real opportunity for investors, or is it too well-known to be exploited? We offer a number of perspectives.

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See the dove in the Fed's dot plot

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.

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Watch the euro as Italy votes

Watch the euro as Italy votes

We are watching the referendum in Italy this weekend for yet another existential crisis for the euro.

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Diversifying stable value with traditional GICs

Diversifying stable value with traditional GICs

Stable value portfolios that avoid traditional GICs may be missing a diversification opportunity that also offers liquidity.

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Negative interest rates explained

Negative interest rates explained

Today's unorthodox central bank policies have made negative interest rates more normal, with potential consequences for government bonds and the banking sector.

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Proceeding toward Brexit: The risks for investors

Proceeding toward Brexit: The risks for investors

With the United Kingdom beginning to move forward with Brexit, we see risks to the economy, the pound, and the markets.

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Buyer beware: Defensive sectors may be overvalued

Buyer beware: Defensive sectors may be overvalued

Seven years into this bull market, defensive sectors have leading performance, and may be signaling more attractive opportunities elsewhere.

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