Beyond Bulls & Bears

A Balanced Look at Equity, Fixed Income Fundamentals—and Oil Price Fears

A Balanced Look at Equity, Fixed Income Fundamentals—and Oil Price Fears

Our current view is that oil markets will likely stabilize over the next several quarters as demand improves and production growth slows to a more manageable pace. More importantly, however, is that many energy-related securities now appear to discount commodity prices at or below the low end of our estimated long-term intrinsic value ranges.