Macro Observations Portfolio Performance Outlook

Macro Observations Portfolio Performance Outlook

MACRO OBSERVATIONS The broadening of the equity markets is good for small-cap stocks and something we have been expecting as the economy remains resilient as inflation cools. The Federal Reserve began to cut interest rates, which should support risk asset valuations over the long term. Small-cap company management teams seem more upbeat than they have […]

MACRO OBSERVATIONS The broadening of the equity markets is good for small cap stocks and something we have been expecting as inflation cools and the expectation of a rate cut is closer on the horizon. Money flows into the small cap asset class have improved. It does not take much investor demand to move small […]

MACRO OBSERVATIONS Inflation has significantly improved, but the headwinds of elevated costs in housing, food, and labor remain a challenge. We anticipate the Federal Reserve has finished raising rates and will begin to cut rates later in the year. The next few quarters should allow the economy to continue to digest the impact of higher […]

MACRO OBSERVATIONS Inflation has significantly improved, but the headwinds of elevated costs in housing, food, and labor remain. We believe the Federal Reserve is finished raising rates and will begin to cut rates in summer 2024. The next few quarters should allow the economy to continue digesting the impact of higher interest rates. Global economic […]

MACRO OBSERVATIONS Inflation has improved, but the challenges of elevated costs in housing, food, and labor remain. We anticipate that the Federal Reserve may raise rates one more time, although the long end of the yield curve has risen substantially. The next few quarters should allow the economy to digest the impact of higher interest […]

MACRO OBSERVATIONS Inflation has improved, but the headwinds of elevated costs in housing, food, and labor remain. We anticipate that the Federal Reserve will end rate increases in the coming months, which should allow the economy to digest the impact of higher interest rates. Global economic growth should continue to slow as the impact of […]

MACRO OBSERVATIONS Inflation continues to improve from extremely high levels and we expect the Federal Reserve to end rate increases in the coming months. Global economic growth should continue to slow, and the inversion of the interest rate yield curve indicates a higher probability of a global recession. Energy, housing, food, and labor costs remain […]

MACRO OBSERVATIONS Inflation expectations have improved significantly, which encourages the Federal Reserve to slow the pace of future interest rate hikes. While energy, food, and labor costs remain a significant headwind to lower inflation, we expect this interest rate rising cycle to end in early 2023. Global economic growth should continue to slow, and the […]