Skip to Content

Capital Market Outlook

February 18, 2020


  • Macro StrategyDeflationary effects from the Coronavirus put the Fed back in play Already faced with below-target inflation, moderate real gross domestic product (GDP) growth and soft inflation pressures, the Federal Reserve has space to cut rates to preempt a worsening economic outlook caused by insufficient nominal GDP growth.
  • Global Market ViewTrouble for the Trifecta of U.S. Debt? The current state of household, federal government and business debt appears manageable for now, but we continue to monitor these areas of the economy for signs of financial excesses or imbalances.
  • Thought of the WeekWhat the Coronavirus Means for Growth and Value—Growth could continue to outperform over the near term, but we favor a balanced approach to both styles as 2020 progresses, enjoying exposure to tactical opportunities within each.

Related Insights