/institutional/perspectives/portfolio-strategy/fixed-income-outlook-q1-2017

Assessing Value in a Faith-Based Rally

Our first quarter 2017 report reflects expectations for strong risk-asset performance as President Trump’s economic agenda takes shape.

February 15, 2017


Report Highlights

Time will tell how successful President Trump will be in implementing his policy proposals, but the various thematic areas being discussed—tax reform, infrastructure spending, and deregulation—are all constructive for U.S. economic growth. The United States is the locomotive of the world. When our economy is growing, dynamic, and strong, it is a boon to the global economy, which is already experiencing a synchronous expansion. Thus far, U.S. risk assets have rallied in anticipation of pro-growth fiscal policy outcomes, but the outcome is far from certain. Nevertheless, the U.S. economic backdrop is strong and should lead to a decline in the corporate default rate. As we discuss in our report, we expect risk assets will continue to perform well, even if a healthy dose of caution causes consolidation around current levels.

 
 
 
Important Notices and Disclosures

This article is distributed for informational purposes only and should not be considered as investing advice or a recommendation of any particular security, strategy or investment product. This article contains opinions of the author but not necessarily those of Guggenheim Partners or its subsidiaries. The author’s opinions are subject to change without notice. Forward looking statements, estimates, and certain information contained herein are based upon proprietary and non-proprietary research and other sources. Information contained herein has been obtained from sources believed to be reliable, but are not assured as to accuracy. No part of this article may be reproduced in any form, or referred to in any other publication, without express written permission of Guggenheim Partners, LLC. ©2017, Guggenheim Partners. Past performance is not indicative of future results. There is neither representation nor warranty as to the current accuracy of, nor liability for, decisions based on such information. © 2017 Guggenheim Partners, LLC. All rights reserved. Guggenheim, Guggenheim Partners and Innovative Solutions. Enduring Values. are registered trademarks of Guggenheim Capital, LLC.


FEATURED PERSPECTIVES

September 17, 2020

Guggenheim’s 2020 Election Portfolios

Our portfolios are constructed based on the key aspects of each candidate’s policy agenda that we believe will move markets. We will publish daily updates in the run up to the presidential election on Nov. 3, 2020.

August 19, 2020

The Impact of the Fed’s Corporate Credit Facilities

As a result of the Federal Reserve’s efforts to shore up credit markets, the leveraged credit sector has delivered stellar performance since the lows in March.

July 29, 2020

China Matters More Than Ever

Cooperation and understanding between China and United States is vital as global economic and environmental challenges mount.


VIDEO

Third Quarter Outlook 

Third Quarter 2020 Outlook

Brian Smedley, Head of Macroeconomic and Investment Research, and Portfolio Manager Steve Brown share their outlook for the third quarter 2020.

2020 Macro Themes 

Macro Themes for 2020

Brian Smedley, Head of Macroeconomic and Investment Research, discusses major trends likely to shape markets this year.







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Guggenheim Investments represents the following affiliated investment management businesses of Guggenheim Partners, LLC: Guggenheim Partners Investment Management, LLC, Security Investors, LLC, Guggenheim Funds Distributors, LLC, Guggenheim Funds Investment Advisors, LLC, Guggenheim Corporate Funding, LLC, Guggenheim Partners Europe Limited, GS GAMMA Advisors, LLC, and Guggenheim Partners India Management.