PERSPECTIVES On the Markets

Current macroeconomic data and market trends in fixed income, equity, and real assets, to help inform your investment decisions.

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Perspectives on the Market
Table of Contents
Spotlight
Spotlight
Spotlight
Market Summary
Market Summary
 Market Summary
Macro Economy
Global growth expectations
The global economy
Global currencies
Emerging markets
The U.S. economy
Recession indicators
U.S. rates
U.S. dollar trends
Equities
Performance summary: U.S. Equities
Performance summary: Global Equities
Equity markets at glance
Equity sectors at a glance
U.S. Equity valuations above long-term average
U.S. Equity market fundamentals
Global Equity earnings and valuations
Dividends
Volatility
Fixed Income
Fixed Income: Performance summary
 Fixed Income sectors at a glance
Credit
Leveraged credit
Mortgage-backed securities
Municipal bonds
Rising Rates
Global bonds
Real Assets
Real Assets: Performance summary
Real Asset sectors at a glance
Real estate
Commodities
Index definitions
Index definitions
Index definitions
Index definitions
Index definitions
Index definitions
Terminology
Disclosures
Helping Investors participate in global market opportunities

Economic & Market Outlooks

Each quarter our asset managers provide outlooks covering the bond, equity and real estate markets along with views on asset allocation. Read their perspectives on the latest economic and market trends.

Whitepapers & Commentary

Explore recent whitepapers and commentary authored by thought leaders across PGIM.

Featured Content

Emerging Markets at the Crossroads

A radical shift in the forces shaping emerging market growth will require investors to take a different investment approach from what may have worked in the past. Increasingly, discovering emerging market investment opportunities will be rooted in investors’ ability to capture the alpha from the new growth drivers, rather than in chasing the beta of the broad emerging markets universe.

Fed Shift Set to Muddy MBS Waters

With the Fed widely expected to begin tapering its MBS reinvestments in late 2017, PGIM Fixed Income's recent whitepaper describes how the sector not only stands to see one of its largest sources of demand retreat from the market, but how it could also lose a filter that has absorbed much of the sector’s optionality risk over the past several years.

Fixed Income: The Active Advantage

Despite lower costs, passive investors are giving up opportunity for alpha in exchange for relatively small savings. This paper explores performance and important idiosyncrasies of the fixed income market that investors should consider when choosing between active and passive.

More Thought Leadership

Fiscal Policy, Inflation and the Role of Real Assets

Inflationary pressures were already building before the election ushered in the prospect of a sweeping pro-growth agenda. In this paper, QMA makes the case for an allocation to real assets to help mitigate the impact of rising inflation.

The Return of Absolute Return Bond

This Q&A style paper discusses different types of absolute return fixed income strategies and how a well-diversified, duration-constrained approach can take advantage of alpha generating opportunities while avoiding systematic exposure to rising interest rates.

Bond Bull's Twain Moment

Does the recent rebound in inflation and G-3 yields portend the beginning of the end for the long-lived bond bull market? PGIM Fixed Income considers whether or not this increase in rates could turn out to be yet another buying opportunity, similar to the taper tantrum and all the other sell-offs along the way.

Energy Market Update

Recent oil price movements stoked investor fears about rich valuations for exploration and production companies. Despite a near-term setback for energy stocks, Jennison Associates believes the environment will improve over the next several months.

Revisiting the Global Credit Cycle

PGIM Fixed Income explores how the new, pro-growth U.S. administration and rising global political risks could affect the current credit cycle.

Demystifying the Source of Alpha in Small Caps

QMA's whitepaper offers a clear explanation for the success of active management in small caps and why some managers are able to exploit small cap alpha so consistently.