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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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

QMA Capital Markets Assumptions

QMA provides their risk and return expectation estimates for equity, fixed income, and non-traditional assets over the next 7 to 10 years. The piece breaks down the factors contributing to the risk and return estimates and discusses the market dynamics leading to these estimates.

What’s Driving Global Inflation?

Across the major advanced and emerging market economies, inflation has remained remarkably low and stable in the face of diverse economic conditions and shocks. This paper looks more deeply at the global inflation process and assesses some of the underlying domestic, global, and external factors that have influenced it.

All Eyes on Productivity

The tight labor market and stimulative policy have the potential to drive wage and consumer prices higher, which could lead to an increasingly aggressive Fed and a higher risk of a policy misstep. QMA explores productivity growth and the possibility that it could pick up and be a factor in dampening inflation dangers.

More Thought Leadership

MLP Market Volatility

On March 15, 2018 the MLP market sold off in reaction to news of a change in accounting rules announced by the Federal Energy Regulatory Commission (FERC). The ruling focused on accounting technicalities unique to certain MLP companies that operate interstate oil and gas pipelines. PGIM’s Jennison Associates provides commentary on the policy change and discusses its potential impact on both the MLP industry and the strategy.

Loco for Emerging Market Debt and FX

Despite recent performance, investors still question if EM local currency bonds can continue to post relatively strong returns. Learn why the asset class is now on solid footing following several years of headwinds, and explore the attractive relative value opportunities that exist within EM local debt and FX.

The Recent Market Meltdown

February 2018’s sudden pickup in market volatility may have come as a surprise, but it was long overdue. QMA discusses why volatility could be returning to normal after a period of unusual tranquility and why they believe there is still room to run for the current bull market.

Can we Predict the Next Market Crash?

How likely is it that the next crash can be predicted? In addition to examining the research on market crash predictors and macroeconomic early warning systems, this paper discusses why even the best historically-based predictors have trouble capturing today’s market vulnerabilities.

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.

Investing in Emerging Markets Growth

Emerging markets will be the primary driver of global growth over the next decade, but a radical shift in the forces shaping emerging markets will require investors to rethink their investment approach. In this paper, Jennison Associates explores what factors will drive growth in emerging markets and the benefits of using an active approach.