Putnam Perspectives

Explore research driven analysis of evolving market themes.


Market sectors that might lead in 2018

Market sectors that might lead in 2018

Technology’s strength seems set to continue, but with the prospect of rising rates, financials may also be among the leading market sectors.

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Just how cheap are European equities?

Just how cheap are European equities?

Our analysis finds that industry group weightings play a significant role in valuation discrepancies between U.S. and European equities.

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What could disturb unprecedented calm in markets?

What could disturb unprecedented calm in markets?

What’s most remarkable about 2017 is the market calm, but this is not a sign that the trend will revert to the mean.

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Looking for impact in CEO compensation

Looking for impact in CEO compensation

It’s important for investors to be able to understand how a company’s performance relates to CEO compensation.

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Longevity and medical costs – education for the great unknowns

Longevity and medical costs – education for the great unknowns

Understanding the impact of longevity and medical costs on savings requires education and a proactive approach to saving.

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Why a meaningful near-term market correction is unlikely

Why a meaningful near-term market correction is unlikely

2017 is a rare year without a stock market correction of at least 5%, but that doesn't make a correction more likely in the fourth quarter.

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How the Japan election may influence global interest rates

How the Japan election may influence global interest rates

The Japan election could have consequences for the future leadership of the Bank of Japan and the country's impact on global interest rate trends.

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Using and enhancing ESG investment data

Using and enhancing ESG investment data

ESG data is having investment impact but is still evolving, and stands to benefit from feedback offered by fundamental analysts.

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Value benefits from an expanding economy

Value benefits from an expanding economy

Value stocks have lagged the market in 2017, but if the economy continues to expand, rates rise, and the yield curve steepens, this trend could reverse.

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Spotting unexpected turns in the growth and value cycle

Spotting unexpected turns in the growth and value cycle

While a diversified portfolio should include both growth and value, today’s valuations and economy point to a value cycle.

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Why investor pessimism may be a good sign

Why investor pessimism may be a good sign

Investor pessimism has historically proven to be reasonably effective as a contrarian investment signal, and market sentiment has plunged again this year.

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Take the measure of currency risk in portfolios

Take the measure of currency risk in portfolios

With the dollar moving higher since 2014, it's worth considering the currency risk in international portfolios.

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What this bull market needs to keep running

What this bull market needs to keep running

With P/E multiples expected to contract as rates rise, earnings growth becomes all the more critical for sustaining the current bull market.

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Job growth continues in January

Job growth continues in January

January jobs 257,000 Unemployment rate 5.7% (up from 5.6% in December) The labor participation rate remains near its lowest point of recent years,

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Rising receipts may recast federal budget debate

Rising receipts may recast federal budget debate

The true measure of underlying economic strength in the United States is not showing up completely in GDP numbers or employment ...

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Fed foretells end of QE3

Fed foretells end of QE3

The Federal Reserve has implemented a monetary policy called quantitative easing, or "QE" for short, to drive down interest rates ...

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Post-crisis after shocks hasten innovation

Post-crisis after shocks hasten innovation

Five years after the 2008 financial crisis, we are still feeling the after shocks around the world. Among the deepest sources ...

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What two of the best recession signals say today

What two of the best recession signals say today

Two indicators can give the quickest read on whether a recession may be near.

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Why Brazil's crisis creates new concerns

Why Brazil's crisis creates new concerns

The revelations of May 17 may pose a threat to President Temer's administration, and therefore a threat to Brazil's short- and medium-term economic outlook.

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Crisis abated, it’s time to dust off the old playbook

Crisis abated, it’s time to dust off the old playbook

Today's pro-cyclical, rising rate environment has a playbook with historical precedent.

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Why rates matter to stocks, too

Why rates matter to stocks, too

Risk factor analysis shows that equity market sectors that act like “bond proxies” may be more sensitive to changes in interest rates than bonds themselves.

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The views and opinions expressed are those of the speaker, are subject to change with market conditions, and are not meant as investment advice.