A market of mixed messages

Equity Team

IN THIS QUARTER'S EQUITY OUTLOOK - Download PDF

Making sense of the market's rise

The case for U.S. housing

2020 campaign changes health sector valuations

We enter the final quarter of the year with a somewhat puzzling backdrop for equity investors. GDP growth across global markets remains in the positive range of the past decade. However, trends that typically signal pullbacks, slowing growth, or even recession have been intermixed with positive economic data and signs of strong consumer confidence.

Are equity investors bullish or nervous, and what is the likelihood of recession in the year ahead? We take a look at positive and negative trends — from the surprising drop in Treasury yields to the impressive financial results from many businesses in the consumer sector. We also analyze the U.S. housing market and the potential effects of the U.S. presidential election on health-care stocks.

GDP growth has been positive, in a narrow range over most of the decade

Next: Making sense of the market's rise

More from Equity Outlook

We enter the final quarter of the year with a somewhat puzzling backdrop for equity investors.

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Shep Perkins, Chief Investment Officer, Equities, explains why the housing market is strengthening.

An active, research-driven approach to investing in equities

Equity investing at Putnam features a tenured and talented team of portfolio managers backed by an integrated group of research analysts with worldwide reach. Our research organization is structured to focus fundamental analysis on the factors that matter most in global equity markets.

EQUITIES AT PUTNAM

Shep Perkins, CFA
Chief Investment Officer, Equities
Investing since 1993
Joined Putnam in 2011

Kate Lakin
Director of Equity Research
Investment industry since 2008
Joined Putnam in 2012

Download the complete Q4 2019 Equity Outlook

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