Market and Economic Insights
Our latest insights on current macro events, forward-looking equity market trends, and timely perspectives on the dynamics shaping the global financial markets.
Our Latest Insights
Latest Sales Data Show the Consumer Remains Strong
August’s advance retail sales report suggests the consumer is far from “struggling on the ropes.” Will these and other recent data influence the FOMC next week?
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From Jackson Hole: Reading the Fed Tea Leaves on Rates and Inflation
All eyes and ears were on Fed Chairperson Powell last week as he addressed the market on future rate hikes, the inflation target, and the state of inflation.
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The U.S. Government Debt Problem
Is the recent Fitch downgrade of the U.S.’ debt meaningful? The answer is, unfortunately, like just about every question in economics, it depends.
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Market Momentum Dominates Headlines
Mega-cap tech and AI dominated headlines and stock market momentum. While outperformance in the U.S. was led by a handful of stocks, head of global equities and portfolio manager Ken McAtamney looks at what investors may expect in the third quarter. This article is featured on William Blair Investment Management's Active Never Rests site.
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What’s Driving Consumer Spending?
The resiliency of the consumer has been a surprise to most. Will it last? Macro analyst Richard de Chazal breaks down the four key drivers of spending and outlines where the data suggest certain areas of consumer strengths may be starting to wane.
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A Perspective on Corporate Earnings: Second Quarter 2023
For many, this earnings season will be more “confession time” as one of the big questions is whether earnings declines will have troughed? To help answer this question, we outline three key factors that we think should draw investor focus: the impact of prevailing higher rates, pricing power and the consumer, and a trend many have been following closely—labor dynamics.
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What’s Up With the Housing Market?
In this latest report, Richard de Chazal, macroeconomist, William Blair Equity Research, examines supply-side dynamics in U.S. housing, the rise in cash purchases, and the magnitude of headwinds such as affordability and high mortgage rates.
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Fed Pauses in June, Further Increases Likely
In terms of changes to its economic forecasts, the Fed now sees 2023's economic growth coming in much higher than it estimated in March, though relatively the same in the coming two years.
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The Latest Inflation Reading Casts Doubts on a Fed Pause in June
The Fed’s favorite inflation data was clearly disappointing, and while the trend rate is still for disinflation, it raises some doubts about current expectations for a pause in June.
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Regional Bank Update
When any turmoil arises, as it has in the banking sector this year, we begin our analysis with a deep risk assessment. Our conclusion: While we are not actively increasing the overall exposure to banks in our U.S. value equity portfolios, we continue to use the market’s short-term volatility as an opportunity to potentially upgrade the quality of the portfolios’ holdings. This article is featured on William Blair Investment Management's Active Never Rests site.
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Debt Ceiling Debate Ramps Up as X-Date Approaches
Get ready, the debate on raising the U.S. debt ceiling is set to ramp up over the coming weeks.
Read morePrivate Wealth Market Review and Outlook
While three months can feel like a short period to see significant changes, it is always astounding to look back at the end of each quarter at what actually has changed.
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Economics Weekly
Insights from Richard de Chazal, CFA, William Blair Equity Research's macroeconomist, covering the U.S. economy and financial markets.
09/08: Tight High-Yield Spreads May Not Last Much Longer
09/01: Recession? It’s All About the Lags
08/18: The Government Debt Problem
08/11: An Inflation Update
