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Pausing For Breath On 'Peak Growth'

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Neuberger Berman


  • The Markit Composite Purchasing Managers' Index for the U.S. is now at 62.2, its fastest pace of expansion since the survey began in 2009.
  • We also continue to look toward non-U.S. equity markets, where year-over-year economic growth statistics have lagged the U.S. but have the potential to inflect higher.
  • The S&P 500 is near record levels, but so are global new coronavirus infections, driven by a dire situation in India.
  • As such, while we remain positive on risky exposures on a 12- to 18-month horizon, we are somewhat more cautious in our view for the next three to six months.

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Photo by LL28/E+ via Getty Images

Erik L. Knutzen, CFA, CAIA, Chief Investment Officer-Multi-Asset Class

Rates of change in economic data may be hitting their peaks, but that need not preclude more long-term upside for risky assets.

The S&P

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Neuberger Berman, founded in 1939, is a private, independent, employee-owned investment manager. The firm manages a range of strategies—including equity, fixed income, quantitative and multi-asset class, private equity and hedge funds—on behalf of institutions, advisors and individual investors globally. With offices in 23 countries, Neuberger Berman’s team is more than 2,100 professionals. For five consecutive years, the company has been named first or second in Pensions & Investments Best Places to Work in Money Management survey (among those with 1,000 employees or more). Tenured, stable and long-term in focus, the firm has built a diverse team of individuals united in their commitment to delivering compelling investment results for our clients over the long term. That commitment includes active consideration of environmental, social and governance factors. The firm manages $323 billion in client assets as of March 31, 2019. For more information, please visit our website at www.nb.com.For important disclosures: https://www.nb.com/disclosure-global-communications  Contact Us: Advisor Solutions (877) 628-2583 advisor@nb.com RIA & Family Office (888) 556-9030 riadesk@nb.com

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Comments (1)

Salmo trutta profile picture
re: "Rates of change in economic data may be hitting their peaks, but that need not preclude more long-term upside for risky assets"

If you take the change from Jan. 2019 to today, inflation has risen 2x that of R-gDp. R-gDp sucks.
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