*Bernstein does not provide tax, legal, or accounting advice.
Perspective on the Markets
What global forces in play today will shape world markets and impact your investments? Each quarter, we offer our take.
Are you seizing the moment in today’s market?
Featured Market Outlook
After a rough year for the markets, Bernstein’s Co-heads of Investment Strategy examine the state of the global economy and present proactive ideas for investors.
With 2022 thankfully behind us, Bernstein lays out the key questions on investors’ minds entering 2023. Read on for our perspective on inflation, bonds, corporate earnings, international stocks, and steps you can take in your portfolio today.
2023 Outlook: Improved, but Not Yet Clear
The global macroeconomic environment entering 2023 is notably weak.Our economic base case suggests US equity markets may be rangebound in 2023, while our economic bear and bull cases could move the markets substantially lower or higher, respectively.
Parts of the fixed-income markets look particularly attractive, with yields high and credit spreads relatively wide.
Enduring wealth management advice
While no two markets are ever the same, investors are always searching for timeless wisdom when it comes to wealth management advice. That’s why we help clients continually adapt to changes in the market outlook with an eye towards reaching their long-term goals.
Data, policy, and the influence of geopolitical events on global macroeconomics all play a role. But we also analyze how these trends impact specific countries and companies as well as decisions around security selection. Are pockets of the market growing more attractive due to indiscriminate selling or mispricings? We’ll help point the way.
Market outlook... or look out?
Sometimes investors want to know, “What should I do with all this seemingly contradictory information?” Often, the least impulsive path helps you unlock the most potential.
It’s only human to get nervous when markets turn volatile. But history offers a clear lesson for the emotionally minded: timing the markets is impossible, returns usually come in unpredictable bursts, and volatility tends to reveal opportunities. In short, having a long-term perspective helps you withstand turmoil and embrace potential. As in life, persistence, perspective and calm often makes for the best wealth management advice.
Make confident choices
Part of our wealth management advice includes helping clients avoid making counterproductive, emotional decisions by leveraging our sophisticated modeling, which weighs outcomes and probabilities of loss under a variety of scenarios. In other words, our analysis allows clients to seize rewarding opportunities while visualizing their likelihood of achieving their goals.
Once advisors help clients uncover their top priorities and concerns, our modeling calculates the tradeoffs between various asset allocation or planning strategies—and determines whether the current path, or a course correction, is required.
The tool is designed with the long-term in mind—anything from 10 to 50 years into the future—and includes simulations for 10,000 different economic paths, covering a wide range of potential macroeconomic and asset price outcomes. Clients find the analysis comforting, especially during large market moves and in rapidly changing environments.