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Market Commentary

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Revisiting the Secular Context

July 2019

Will investors experience an extended business cycle? Jurrien Timmer, Director of Global Macro, examines the implications of recent Fed interest rate cuts and changing P/E ratios on the global business cycle.

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What’s the price of uncertainty?

June 2019

Jurrien feels that the price of a prolonged period of uncertainty is a lower P/E multiple. However, investors seem to be concerned more with yield and cash flow and less with what price they have to pay for each dollar of earnings.

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Global economy continues to mature

June 2019

Dirk Hofschire, CFA, senior vice president, asset allocation research, and Lisa Emsbo-Mattingly, director of asset allocation research, assess key factors influencing the outlook for both the U.S. and the global economy as of June 2019.

 

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Jurrien Timmer June 2019 Commentary

June 2019

With the topic of share buybacks taking up more and more of the conversation these days, Jurrien says it’s worth trying to quantify their impact on the stock market.

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May 2019 Business Cycle Update

May 2019

Dirk Hofschire, CFA, senior vice president, asset allocation research, and Lisa Emsbo-Mattingly, director of asset allocation research, assess key factors influencing the outlook for the U.S. and global economies as of May 2019.

 

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Jurrien Timmer May 2019 Commentary

May 2019

What’s next after the V-shaped reversal? Jurrien Timmer, Director of Global Macro, believes the four lenses of earnings, liquidity, valuation and sentiment remain moderately constructive for risk assets.

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Q2 2019 Market Update―Presentation

April 2019

Fidelity's Asset Allocation Research Team (AART) examines major themes in global financial markets and presents its investment outlook in this quarterly market update.

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Q2 2019 Market Update―Video

April 2019

Fidelity's Asset Allocation Research Team (AART) examines major themes in global financial markets and presents its investment outlook in this quarterly market update.

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Q2 2019 Market Update―Executive Summary

April 2019

Fidelity's Asset Allocation Research Team (AART) examines major themes in global financial markets and presents its investment outlook in this quarterly market update.

stylized image of globe and graphs for monthly Jurrien Timmer commentary

Jurrien Timmer April 2019 Commentary

April 2019

Against a backdrop of a sentiment extreme in December, Jurrien Timmer, Director of Global Macro, sees 3 reasons why the stock market’s narrative could be about to improve.

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