Investment Insights

Investment Insights: Behind The Numbers - Episode 1

10 April 2019

Podcast recorded 04/10/2019.

In the first installment of Behind the Numbers, Frazer Rice, Sr. Wealth Strategist and Michael Kassab, Chief Investment Officer of Calamos Wealth Management recap recent U.S and Non-U.S. market activity along with forward-looking viewpoints for what to expect in the months ahead. Nearly every asset class posted positive returns for the first quarter, including U.S equities, international equities, emerging markets, U.S treasuries, and corporate bonds. This stands in stark contrast to the end of 2019, when fears over slowing global growth and tightening U.S monetary policy triggered a steep selloff in risk assets.

Michael and his team believe the U.S economy will continue its steady expansion the remainder of the year, given sound underlying fundamental. Inflation is benign, unemployment is low, the U.S consumer remains healthy, tax reform and deregulation should continue to benefit the corporate sector, and the Federal Reserve has signaled more accommodative monetary policy.

Michael believes the most likely path from here are the markets will move sideways and perhaps drift modestly higher for the short term. However, in his opinion investors are going to want to see some sort of confirmation that global demand is improving that would led confidence in this belief that earnings growth will bounce back in the second half of the year.