Will consumer spending propel the economic recovery?

03/19/21 • 24 min

Sandy Sanders, CFA, senior portfolio manager at Manulife Investment Management, weighs in on the health of the consumer and why conditions now are very different from previous economic recoveries. He discusses how technology, demographics, and productivity increases could shape an economy that’s rebounding after the pandemic recession. The portfolio manager also outlines various bullish and bearish scenarios, as well as the sectors where he sees the best investment opportunities now.

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Will emerging markets lead the new cycle?

Co-Chief Investment Strategists Matthew D. Miskin, CFA, and Emily R. Roland, CIMA, discuss why they like emerging markets as one way to position for a new cycle as the global economy recovers from the pandemic. In U.S. equities, they see signs of a rotation to value and small-cap stocks. Meanwhile, bond flows suggest a preference for passive investment, but the strategists make the case for an active approach centered on higher-quality credit and rising interest rates.

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The Fed holds the key to the economic cycle

Co-Chief Investment Strategists Emily R. Roland, CIMA, and Matthew D. Miskin, CFA, discuss what the U.S. Federal Reserve’s (Fed’s) current outlook for inflation and growth mean for the maturity of the current economic cycle. After the recent rise in interest rates and a $1.9 trillion stimulus package, investors are looking for clues when the Fed might begin to tighten. However, at the March meeting, the Fed signaled it was willing to let inflation run over 2%, which pushed back expectations of a potential rate hike. The investment strategists explain what this could mean for both equity and fixed-income portfolios.