Jack Janasiewicz offers his tactical take on the capital markets in this podcast recorded on December 9, 2022.
  • Stocks rose in November as inflation appeared to be cooling – but as Federal Reserve Board Chair Jay Powell noted, one print does not make a trend.
  • China’s moderation of its zero-Covid policies benefited emerging market equities, but the path to reopening is likely to be bumpy and nonlinear.
  • At long last, the pipeline of disinflation we knew was coming from supply chain improvements, bloated inventories and shifting consumption finally began filtering into the official data.
  • Powell indicated that the pace of rate hikes would likely moderate – but stressed concerns about the two-sided risk: overtightening vs. not doing enough.
  • While the market continues to view recession in 2023 as the base case, we believe the odds of a soft landing remain higher than consensus appreciates.
Past performance is no guarantee of future results.

Investing involves risk, including the risk of loss. The views and opinions are as of December 9, 2022 and may change based on market and other conditions. This material is provided for informational purposes only and should not be construed as investment advice. There can be no assurance that developments will transpire as forecasted. Actual results may vary. Although Natixis Investment Managers believes the information provided in this material to be reliable, including that from third party sources, it does not guarantee the accuracy, adequacy or completeness of such information.

Natixis Advisors, LLC provides advisory services through its division Natixis Investment Managers Solutions. Advisory services are generally provided with the assistance of model portfolio providers, some of which are affiliates of Natixis Investment Managers, LLC.

Natixis Distribution, LLC is a limited purpose broker-dealer and the distributor of various registered investment companies for which advisory services are provided by affiliates of Natixis Investment Managers, LLC. Natixis Investment Managers does not provide tax or legal advice. Please consult with a tax or legal professional prior to making any investment decisions.

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