In-depth analysis by Putnam experts
Explore research-driven viewpoints on current markets, asset classes, and investment strategies.
Monthly analysis of global stock market themes from Putnam's equity investment professionals.
Fixed Income Outlook
Analysis of global bond markets and currencies from the investment leaders of Putnam's Fixed Income group.
U.S. Structured Credit Outlook
The macro landscape changed markedly over the course of 2022. As investor concerns have shifted to persistent inflation, central bank tightening, and heightened geopolitical tensions, we believe non-agency RMBS bonds present a very attractive investment opportunity in 2023.
Capital Markets Outlook
Perspective on the global economy and asset classes with insight on market history.
A case for active non-U.S. small-cap equity
Putnam's research shows the non-U.S. small-cap equity asset class can help diversify a long-term portfolio, mitigate risk, and improve risk-adjusted returns. The asset class also offers broad opportunities for active managers.
Prepayment strategies: Essentials, analysis, and investing
Prepayment risk is one of the four major risks present in bond markets, along with term structure (or duration) risk, credit risk, and liquidity risk. We believe prepayment risk, largely concentrated in U.S. markets, is one of the least understood and most underutilized risks in a well-diversified portfolio.
Treasury Inflation-Protected Securities: How they function and the headwinds they face
Treasury Inflation-Protected Securities (TIPS) offer benefits for hedging against inflation, but they also face headwinds when real interest rates increase and inflation rates begin to decline.
The case for emerging market small-cap equities
Emerging market small-cap stocks have an attractive performance track record and offer a compelling complement to EM large caps, due to differences in the country composition and SOE representation in the EM small-cap universe.
The past, present, and future of bond markets
We believe the search for fixed income returns over the next decade will be at the earlier stages of capital creation in assets such as convertible bonds, high-yield credit, leveraged loans, and emerging market debt.
Toward a circular economy: Investments for a Thriving Planet™
The global economy demands more resources than Earth can sustain. Among potential solutions, the concept of the circular economy has emerged to inform business leaders and investors about maximizing the effective use of resources and minimizing waste.
Convertible and high-yield opportunities
In this brief asset class comparison, we show why it may be attractive to consider replacing the lower quality tiers of a high-yield allocation with balanced convertible securities.
Toward racial justice
Using the social lens of ESG investing, our researchers explain the markers of leadership among U.S. corporations addressing the challenge of racial injustice.
Improving diversification with convertible bonds
Offering hybrid features, convertible securities may help to offset the downside risk of an equity allocation while also diversifying a fixed income allocation.
Mental health: Insights and investment implications
The COVID-19 pandemic has put a spotlight on issues related to mental health. In this report, Putnam's sustainable investing team explores several trends emerging in the pandemic and the potential implications for investors.