February 4, 2019—Financial markets have been quite volatile over the past four months, with the S&P 500 down almost 20% from September to December of 2018 on concerns about politics, the Federal Reserve, and global growth. During that time—as is our modus operandi when the headline noise risks overwhelming all other considerations—we kept our focus on economic fundamentals and maintained the view that the U.S. equity market was not reflecting those fundamentals.
Our 2019 forecast for markets, economies, and portfolios.Horizontal digitization of technology across economic sectorsLabor productivity’s race against the clockRates and the global debt super cycleTwenty years ago, MSCI and S&P Dow Jones indices developed the Global Industry Classification Standard and defined sectors and industries for the equities market more or less as we know them today.
January 10, 2019 – Volatile equity markets have bounced off of their Christmas Eve lows, heading higher in almost as dramatic a fashion as on the way down. We are not surprised to see the rapid move upward, as we assessed equity markets to be oversold and pessimistic sentiment extreme by the end of 2018.