Investment Quarterly

SUMMER 2019

Perspectives for late-cycle and beyond.

Stock markets enjoyed a major comeback in the first half, but the record-long economic expansion is threatened by slowing global growth and trade tensions.

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IN THIS ISSUE

In this issue of Investment Quarterly, we offer perspectives to help investors navigate the currently shifting climate and ongoing challenges in seeking to maintain and build wealth.

President's Letter

Rebounds, Records and Uncertainty

A reminder about investment principles emerges in a transitional environment.

Asset Matters

Investing Deep in the Cycle

As the U.S. economic expansion moves past the decade mark, we offer three ideas to help keep portfolios on course.

Asset Matters

The Preferred Income Advantage

In an environment of exceptionally low bond yields, preferred shares may provide an opportunity to boost income.

Market Focus

Ten for 2019 Midyear Update

The heads of our four investment platforms revisit the key themes they anticipated would guide investment decisions in 2019.

Market Focus

U.S. and China: The Long Road Ahead

Continued trade tensions and periodic flashpoints will likely become the norm.

Perspective

Unlocking Inflation

After a decade of disappointment on prices, what can the Federal Reserve do to set the right course?