QUARTERLY
INVESTMENT OUTLOOK
Intelligence for Your Portfolios
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Macroeconomic
Explore how an absolute-return approach may offer flexibility as persistent inflation challenges traditional portfolio assumptions and reshapes opportunities across markets.
Chart of the Week |
Macroeconomic
Sticky inflation and resilient growth have revived monetary tightening, increasing the risk of higher-for-longer rates and near-term volatility. We continue to believe economic resilience and strong corporate profits should continue to provide a favorable backdrop for stocks, and would use periods of market weakness to add selectively to equities. Additionally, owning real assets can help hedge against inflation.
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Equities
Value equities have historically shown resiliency during higher inflationary periods versus their growth counterparts. With inflation remaining elevated, we believe that value opportunities continue to be a compelling option for portfolio diversification and potential stability.
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Macroeconomic
The U.S. Federal Reserve’s (Fed) 25 basis point (bp) rate hike on September 16 marks the beginning of its effort to bring inflation back toward its 2% target. Under Chair Warsh, the Fed’s actions are now aligning with its hawkish rhetoric.
The value of investments can fall. Investors may not get back the amount invested.
Investment Managers are appointed by BNY Mellon Investment Management EMEA Limited (BNYMIM EMEA), BNY Mellon Fund Managers Limited (BNYMFM), BNY Mellon Fund Management (Luxembourg) S.A. (BNY MFML) or affiliated fund operating companies to undertake portfolio management activities in relation to contracts for products and services entered into by clients with BNYMIM EMEA, BNY MFML or the BNY Mellon funds.