Explore our thinking about today's financial markets
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Capitalizing on emerging markets beyond China
September 21, 2023 | Exchange-traded funds
Discover investment opportunities in the evolving landscape of emerging markets beyond China. Learn more today.
Capital Markets Outlook

Investor patience may be a virtue as Magnificent Seven stocks rise
July 12, 2023 | Capital Markets Outlook
Generative AI offers potential in the digital economy, but prudent investors should carefully weigh the value of patience in this stock market rally.
Fixed Income Outlook

Inflation will challenge the Fed again soon
July 31, 2023 | Fixed Income Outlook
Signs of falling inflation have helped risk assets recently, but the relief is likely temporary.
Equity Insights

Why active over passive for small-cap investing
September 8, 2023 | Equity Insights
A wide range of possible outcomes, a multitude of negative earners, and significantly less Wall Street coverage are just a few of the reasons small-cap investors should consider active managers who could steer them toward better results.
![ESG Materiality: A North Star for multi-asset investors [2023]](https://www.putnam.com/static/img/blogs/perspectives/334257_1200x627.jpg)
ESG Materiality: A North Star for multi-asset investors [2023]
The concept of financial materiality serves as a “North Star” that can guide activity across asset classes. Illuminating this concept, Putnam experts in equities, fixed income, and asset allocation have produced a comprehensive exploration of ESG materiality across asset classes.

What's next for the traditional 60/40 portfolio
Volatility in both stock and bond markets persisted in Q3 2022, with equity markets making new year-to-date lows and interest rates reaching the highest levels since 2008. 2022 has also presented challenges for the traditional 60% equity/40% fixed income portfolio.

Slowing economic growth and fixed income performance
As a follow up to the piece we published in July that focused on decelerating economic growth and equity returns, we thought it made sense to look at how some fixed income sectors fared during the same periods. We researched this concept to better understand the historical relationship between an economic slowdown, credit spreads, and total returns.

Consumer sentiment and forward market performance
In light of decades-high inflation, the Federal Reserve tightening monetary policy, and concerns about an economic slowdown, U.S. consumer sentiment has plummeted.. This year, sentiment is historically low, according to the University of Michigan Survey of Consumers.

Style and factor performance during economic deceleration
Investors are concerned about decelerating economic growth and what this could mean for future equity returns. We researched this question to understand the historical relationship between an economic slowdown, earnings degradation, and any subsequent style or factor performance.

Yield curve inversion and market performance
At its March meeting, the Federal Reserve raised the federal funds rate by 25 basis points. The central bank also indicated that this is likely the start of a tightening cycle, as policymakers attempt to dampen the elevated levels of inflation seen since the start of the pandemic.