The Tactical Take:

Devils, Details, and Market Overhangs

Jack Janasiewicz photo

Jack Janasiewicz, CFA®

Portfolio Manager and Lead Portfolio Strategist
Natixis Investment Managers Solutions

Full Bio
  • May 10, 2022


Jack Janasiewicz presents his observations on the capital markets in this podcast recorded on May 5, 2022.

  • In April, stocks posted their worst month since March 2020, and Nasdaq’s worst month since 2008.
  • As usual, however, the devil is in the details, and in this case the details aren’t screaming recession.
  • In general, corporate earnings season has been largely positive – but forward guidance has been somewhat tepid to bearish.
  • Three key areas of uncertainty are overhanging the markets: China’s Covid policy, the Fed/interest rates/inflation, and the Russia-Ukraine conflict.
  • Sentiment is downright horrendous – but could this be a source of support?

Recent Episodes

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Sell the Angst, Buy the Tanks?

Portfolio Manager Jack Janasiewicz discusses the stock market’s gain in March, yield curve relativity, the rate hike trajectory and inflation expectations.
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Inflationary Doom Loop?

Portfolio Manager Jack Janasiewicz discusses events that rattled markets in February, from rate hike expectations to fallout from the Russia/Ukraine crisis.
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A Bout of Market Indigestion

Portfolio Manager Jack Janasiewicz provides context around January’s market swoon, the Fed’s anticipated rate hikes and the start of earnings season.
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Peak Fed Hawkishness – and Beyond

Portfolio Manager Jack Janasiewicz discusses the December Fed meeting, living with Omicron, the power of earnings, and the new market highs at year end.
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November Sentiment Swing – Sell Now, Ask Questions Later

Portfolio Manager Jack Janasiewicz discusses November’s bearish turn in the market with just one month left in 2021.
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Trick or Treat? October Reversal

Portfolio Manager Jack Janasiewicz points out that September’s losses did not continue into October, thanks to a solid earnings season – and other fears may be overblown as well.
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This material is provided for informational purposes only and should not be construed as investment advice.

The views and opinions expressed are as of November 2021 and may change based on market and other conditions.

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. Actual results may vary.

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