Beyond Bulls & Bears

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A Golden Opportunity?

We continue to see attractive investment opportunities in gold and precious metals equities, with many companies trading well below what it would cost to build their existing mines today. We believe many gold companies are also well-positioned to survive a weak price environment.

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Fixed Income

A More Accommodative Fed

While market consensus currently seems unconcerned about inflation, we know this could change quickly. Longer term, we certainly think higher-than-anticipated US inflation is a potential risk.

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Equity

Volatility Is Not an Indicator of US Recession

I believe when we look back through the rear-view mirror later this year, we will see this period as a growth pause in a long expansionary cycle.

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Global Economic Perspective: March

We regard the greater stability in commodity prices, along with a lessening of volatility in financial markets, as welcome, and believe it should provide a more stable platform for the global economy, where growth remains acceptable, if lower than desirable.

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An Alternative View on Volatility

Based on our current economic outlook, with financial markets still coming to terms with, among other issues, China’s slowing growth rate and uncertainty about global interest rates, we anticipate volatility will be around for some time—and may even escalate.

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Fixed Income

Why Europe Is Wrong to Ignore the Threat of Brexit

Many European investors seem to think this so-called 'Brexit' decision is an issue that will only affect the United Kingdom. We think they’re mistaken and that Brexit has significant implications for investment markets in Europe as a whole.