Scott Minerd, Chairman of Investments and Global CIO, discussed his outlook for markets and the economy with CNBC’s Brian Sullivan during the Milken Institute 2020 Global Conference.
Examining the Fed’s announcement to sell its SMCCF holdings.
A disappointing May jobs report strengthens our conviction that Fed policymakers will stay the course.
The spike in core CPI is a one-time adjustment as the economy reopens.
Supply chain disruptions may be a near-term challenge, but base effects will slow inflation next year.
Despite a strong March 2021 jobs report, full employment remains far away.
The summer months tend to deliver stronger-than-average returns for bonds.
Fed Chair Jay Powell is giving conflicting guidance to bond investors.
Our view is that inflation will generally remain subdued in coming years, allowing the Fed to point to cumulative shortfalls from its two percent goal to support delaying the start of policy tightening.
Selected charts from our First Quarter Fixed-Income Outlook illustrate why we are staying on offense.
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