Putnam’s investment professionals offer compelling analysis of evolving market themes.
Why a bond allocation still matters
Jason R. Vaillancourt, CFA
Co-Head of Global Asset Allocation, September 30, 2015
With some investors questioning the merits of maintaining a bond allocation, our investigation of asset correlations provides insights. Read more
Innovation is a major driver of growth
Our analysis of TFP — Total Factor Productivity — gives us confidence that innovation can sustain long-term economic growth at pre-2008 levels.
Corporate profits: Looking beyond headwinds
Energy sector struggles and the strong dollar are likely to continue to weigh on earnings.
A surprising shortage in housing
Home construction is falling behind the pace of new household formation, creating an imbalance between housing supply and demand.
Headwinds buffet emerging-market debt
Higher interest rates can challenge any fixed-income market, but rate increases in advanced economies can cause particular difficulty for emerging markets.
Why energy prices may stay weak
While energy consumption had been relatively stable in the developed world, supply has continued to expand.
Don't expect a "heads up" from the Fed
The Fed’s rate hike will probably come without warning.
Be selective in emerging markets
The picture in emerging markets is vastly different today than in the mid- to late-1990s, when nearly all EM countries issued debt in U.S. dollars.
The equity edge over high yield
Despite the disruption in the high-yield bond sector caused by lower energy prices, it may not be a buying opportunity.
The dollar could be a drag on dividends
The stronger U.S. dollar can challenge corporate earnings and the ability of companies to pay dividends.
The coiled-spring economy
Despite ups and downs in quarterly GDP, we see trends that herald the economy's return to the “old normal,” pre-financial crisis pace of growth.
New horizon for corporate governance
Pressure on the boards of Japanese companies to increase the return on equity for shareholders is changing the outlook for investing in Japan.
Why this bull market may lose steam
We are concerned about some challenges to U.S. equities — including a potentially difficult environment for earnings growth in 2015.
What may unlock consumer spending
While retail sales have been rather weak, key elements of consumer spending on services, including housing, are growing.
Why the Fed might move in June
We think there is a possibility that the Fed could raise rates at just about any time, including between meetings.
The outlook for high yield in the oilfield
Fundamental research offers a guide to the risk that low oil prices pose to energy companies with high yield debt.
Look beyond low oil prices for opportunity
The surge in North American production has reshuffled risk and investment opportunities in the global energy sector.
Reasons for optimism about Europe
Across Europe, we think structural change is leading to increasingly compelling opportunities for investors.
Old thinking in China raises doubts
A recent public spending plan in China suggests authorities may be revisiting old habits.
Earnings reports offer new clues
Our outlook for earnings growth is a bit more cautious for the coming year.
The views and opinions expressed are those of the speaker, are subject to change with market conditions, and are not meant as investment advice.