Jack Janasiewicz offers his tactical take on the capital markets in this podcast recorded on June 8, 2022.

  • The S&P 500® Index eked out a tiny gain in May, after a mid-month drawdown of more than 9%, and the benchmark 10-year Treasury yield also rallied.
  • Several catalysts contributed to this U-turn, including a shift in the inflation narrative and market expectations for the number of Federal Reserve rate hikes.
  • US consumer spending is still the primary driver of the US economy, but now the focus is on services rather than goods as pandemic restrictions lift.
  • Retail overstaffing and excess inventory could potentially have a deflationary effect – and the odds of a recession appear to be slipping – but investors have yet to regain their appetite for risk.
For listeners outside the United States, Natixis Investment Managers’ distribution and service groups include Natixis Investment Managers S.A. (Luxembourg), Natixis Investment Managers International (France), and their affiliated distribution and service entities. These entities conduct any regulated activities only in and from the jurisdictions in which they are licensed or authorized. Their services and the products they manage are not available to all investors in all jurisdictions. For additional information and important podcasts disclosures for listeners outside the US, please consult im.natixis.com/intl/podcasts-and-other-media.

Further, the views and opinions expressed in this podcast are those of the speaker and not necessarily those of Natixis Investment Managers. These views were provided as of the date of recording and will not be revised. The information contained in this podcast does not constitute investment advice or an offer to buy or sell a financial product from any Natixis Investment Managers entity. There can be no assurance that developments will transpire as forecasted. Actual results may vary.

All investing involves risk, including the risk of loss. Investment risk exists with equity, fixed-income, and alternative investments. There is no assurance that any investment will meet its performance objectives or that losses will be avoided.

There can be no assurance that developments will transpire as forecasted. Actual results may vary.

Performance data discussed represents past performance and is no guarantee of, and not necessarily indicative of, future results.

Indexes are not investments, do not incur fees and expenses and are not professionally managed. It is not possible to invest directly in an index.

This document may contain references to copyrights, indexes and trademarks that may not be registered in all jurisdictions. Third party registrations are the property of their respective owners and are not affiliated with Natixis Investment Managers or any of its related or affiliated companies (collectively “Natixis”). Such third party owners do not sponsor, endorse or participate in the provision of any Natixis services, funds or other financial products.

CFA® and Chartered Financial Analyst® are registered trademarks owned by the CFA Institute.