/perspectives/media/more-downside-risk-for-markets-in-the-near-term

More Downside Risk for Markets in the Near Term

Scott Minerd, Chairman of Investments and Global CIO, explains on CNBC why investors should stay on pause for now.

March 16, 2020

 

Key Takeaways:

  • Expect economic disruptions resulting from lost income as people stay home.
  • Swift and accommodative fiscal policy is necessary to avoid slipping into a global depression.
  • Don’t think of bailouts as charity—the government made money on TARP as a distressed investor.
  • While global depression is now a 10–20 percent risk now, weakness in peripheral sovereign markets could to be the tipping point.
  • While high-yield and investment-grade bonds have only been cheaper relative to Treasurys 15 percent of the time, the balance of risks remains to the downside.


Read Global CIO Outlook: Meeting An Historic Challenge


FEATURED PERSPECTIVES

October 19, 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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