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House View live from the US: Replay

This month we were joined by Jeremy Zirin, Head of Equities Americas. Jeremy participated in an interactive discussion focused on our House View recommendations for US investors and discussed the most pressing developments within markets, economics, and politics around the globe.

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Are you prepared? Risk scenarios to watch

In 2017, European, Japanese, and emerging market equities all provided higher total returns than the S&P 500. 2018 hasn’t been nearly as kind to US investors enticed by this performance to venture abroad in their equity portfolio. Looking forward, we expect more balanced results from global equities. While US earnings growth will persist, the blistering 26% pace in the 2nd quarter will moderate. Meanwhile, overseas markets should see accelerating profit growth as currencies and economies stabilize and their attractive valuations provide a tailwind. Rather than belabor recent performance, now is a good time for investors to rebalance their portfolios back to their benchmarks.

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After underperforming international stocks in 2017 and the early part of this year, US stocks have regained their footing and have again taken the lead from a performance perspective. Meanwhile, growth stocks have also continued to outperform value stocks, despite their higher-than-average valuations and an economic environment that usually favors value. Despite this continued outperformance of US stocks vs. international and growth vs. value, we continue to favor a globally-diversified approach and also favor value stocks vs. growth going forward.

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