Category: Uncategorized

Returns should be better for fixed income investors in the second half of 2022, now that interest rates have reset higher. However, we still expect volatility to remain high as central banks shift away from easy-money policies.

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Rising inflation, rate hikes, supply-chain problems and the Russia-Ukraine war have contributed to growing recession fears. While recessions are impossible to predict, we think the risk of one—sooner rather than later—has picked up.

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Stocks, bonds, and cash are all in a bear market or teetering on the edge of one—a very rare event. Over the past 72 years, there have only two prior periods with a triple bear.

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