/perspectives/media/third-quarter-2021-market-outlook

Third Quarter 2021 Market Outlook

Matt Bush, U.S. Economist, Macroeconomic and Investment Research, and Portfolio Manager Steve Brown provide our macro and markets outlook.

September 28, 2021

 

 

Key Takeaways:

  • The second quarter may represent the peak for sequential growth. 
  • Production bottlenecks have caused inflation to spike, but we think the worst is behind us.
  • We continue to expect rate hikes are much further off than market expectations of early 2023.
  • Our strategies made some incremental shifts within our credit exposure to prioritize carry and overall reduce credit beta.


Read Macro Alert: Weak Data and Fiscal Uncertainty Will Delay Fed Tapering

 


FEATURED PERSPECTIVES

May 18, 2022

Fed Aggressiveness Following Delayed Liftoff Sets Up 2023 Collision

The risks of tightening into a downturn.

March 22, 2022

For Lessons on Fighting Inflation, Skip Over Volcker to 1946

Clues from history on how to successfully end the current surge in prices.

March 04, 2022

Credit Returns in the Upcoming Fed Hiking Cycle

Exploring the performance of leveraged credit in past tightening cycles.


VIDEOS AND PODCASTS

First Quarter 2022 Market Outlook 

First Quarter 2022 Market Outlook

Maria Giraldo, CFA, Managing Director, Investment Research, and Evan Serdensky, Director, Portfolio Management, provide our macro and markets outlook.

Macro Markets Podcast 

Macro Markets Podcast: Episode #13: The Fed, Credit Quality, and Bank Loans

U.S. Economist Matt Bush analyzes the latest Fed announcement and labor and inflation data, Investment Strategist Maria Giraldo discusses credit risk while the Fed tightens, and Managing Director Chris Keywork updates on the bank loan market.







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