Our Perspectives

Market Perspectives

The Monetary Illusion Why QE Will Lower Living Standards

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Chairman of Investments and Global Chief Investment Officer Scott Minerd leads Guggenheim Partners’ macroeconomic and investment research functions. Together, our team of economists, strategists, and analysts provide insights and analysis on markets and opportunities via weekly
Macro Views, in-depth Market Perspectives, Sector Reports, and media appearances.

Market Perspectives

The Monetary Illusion

Quantitative easing will likely lower living standards in the long term.

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Weekly Macro View

Euro: Parity Like It’s 1999

Europe stands to benefit as the euro nears parity with the U.S. dollar; the Fed knows the U.S. economy faces a winter soft patch; the outlook for equities and fixed income remains fundamentally strong.

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Sector Report

High-Yield and Bank Loan Outlook - January 2015

A solid run of domestic data has set the United States apart from a beleaguered world.

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Media Appearances

CNBC: Good Run Ahead for the US Economy

The rate of wage growth and falling unemployment indicate that we've now moved from a recovery into a self-sustained expansion that will likely last for the next two or three years.

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Portfolio Strategy

The ABCs of ABS: Opportunities in Asset-Backed Securities

In the search for yield, ABS offers an opportunity to generate higher returns through rigorous analysis, unaccompanied by additional credit or interest-rate risk.

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Latest Videos

Guggenheim Partners Global Chief Investment Officer Scott Minerd and his investment team share insights on investment opportunities around the world, U.S. monetary policy and new areas of economic development in this series of videos and media appearances.


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Recent Perspectives

October 16, 2014

Seasonal Factors Ready to Turn Positive

After a volatile week in markets, U.S. equities are now oversold and investors should be alert for seasonal factors that should soon turn positive.

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October 07, 2014

High-Yield and Bank Loan Outlook - October 2014

Leveraged credit suffered from heightened volatility over the third quarter as mutual fund investors withdrew from the sector amid concerns about frothy valuations and talk of a credit bubble. We believe the high-yield bond market correction this quarter is healthy and overdue, but investors can expect choppier waters ahead. One segment we believe may help limit near-term volatility risk while capturing strong returns is middle-market debt.

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October 02, 2014

Banquo’s Grain and U.S. Interest Rates

The U.S. economy is strong enough to suggest higher interest rates ahead, but a number of factors suggest U.S. Treasury yields could move lower.

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September 24, 2014

After “Considerable Time,” Fed to Define “Highly Accommodative”

As the Federal Reserve maintains a “highly accommodative” monetary policy the central bank runs the risk of allowing the U.S. economy to overheat.

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September 18, 2014

Why the Pennant Race Could Coincide with Market Volatility

While the U.S. economy is gaining momentum, investors should nevertheless brace for volatility in the next few weeks.

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September 10, 2014

Bulls Charge Despite Weak Data

As the U.S. Federal Reserve debates withdrawing accommodation the doves have the upper hand, but that does not mean they won’t make a concession to hawks and hike sooner than the market expects.

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September 03, 2014

Central Banks Pump Up the Volume

Aggressive central bank accommodation from Europe to Japan and a dovish Federal Reserve bode well for equities and bond prices.

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August 20, 2014

Don’t Fight the U.S. Treasury Rally

A number of factors seem likely to drive U.S. 10-year Treasury rates lower in the near term, including increasing demand, decreasing supply, and tension in Ukraine and Iraq that is triggering a flight to quality. As Treasury yields fall, a wave of mortgage refinancing could drive yields even lower, creating a compelling opportunity to rebalance portfolios.

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August 07, 2014

Investor or Speculator?

The recent selloff in U.S. stocks is healthy and could set markets up to reach new highs by year end. Long- term investors should not fall victim to panic and sell.

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July 30, 2014

Normalize to What?

Despite a disconcerting, growing consensus among investors, the likelihood of a sudden increase in U.S. interest rates is fairly remote for now.

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