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Thought Leadership
We provide unique perspectives on the economy and markets, which can be important contributors to investing success. At Touchstone, we strive to help financial professionals and their clients think about the market and investing in different ways. We collaborate with industry veterans and our sub-advisors to bring you their expertise and comprehensive thoughts on investment topics relevant in the current environment.
With the tide of liquidity starting to move back out we are taking off the risk-on posture we advocated at the start of 2021 and think a shift back toward strategic weights may be prudent. We believe opportunities will develop over the course of 2022, which will lead to advantageous positioning changes.
We believe that the monetary and fiscal spigots have begun to close, moving us to a new phase in the markets – one that may feel more familiar with fundamentals driving returns, says Richard “Crit” Thomas, Touchstone’s global market strategist.
Art DeGaetano of Bramshill Investments, LLC, sub-advisor to the Touchstone Flexible Income Fund, returns to share his perspective on risks and opportunities within the fixed income marketplace.
Chris Mathewson of Ares Capital Management, LLC, sub-advisor to the Touchstone Credit Opportunities Fund, examines considerations surrounding the below investment grade universe and discusses how they inform the portfolio’s positioning.
Fort Washington Investment Advisors, Sub-Advisor to the Touchstone Ultra Short Duration Fixed Income Fund
In structuring the Touchstone Ultra Short Duration Fixed Income Fund, macroeconomic perspective helps determine duration, yield curve positioning and credit quality bias. And in seeking returns above the fund’s benchmarks, its sub-advisor relies on both strategic sector focus and bottom-up security selection.
Art DeGaetano of Bramshill Investments, LLC, sub-advisor to the Touchstone Flexible Income Fund, discusses where the portfolio has been seeking relative value and how it is being positioned looking forward.
Art DeGaetano of Bramshill Investments, LLC, sub-advisor to the Touchstone Flexible Income Fund, discusses factors currently influencing interest rate movements and shares his perspective on the risks that may accompany higher rates.
The economic picture appears poised to dramatically improve as social distancing constraints ease. Still, given that risk assets have already begun to discount this positive outlook, 2021 may prove better for consumers than for the markets.
How might a change in the White House impact investors? Prevailing conditions, rather than party affiliation and campaign platforms, may offer greater insight into what a Biden presidency may portend for the markets.
In actively managing the Touchstone Sands Capital Select Growth Fund, its sub-advisor favors large cap growth companies that in its view use ‘dislocation and disruption’ to their advantage.
Can the U.S. inflate its way out of its debt problem when much of its growing deficit is in fact tied to inflation? Higher debt levels seem here to stay. What are the implications for future administrations and their ability to legislate?
Today the high yield sector is providing historically healthy compensation in the form of the credit spread for taking on this risk. This opportunity, as with any, will not last indefinitely.
‘Red, then yellow, then green’ may signal the course of the global health crisis and its economic consequences. For now, caution marks the common direction of the markets.
Forces at work in India hold potential to fuel a long-term consumption tailwind. They include a swelling middle class, pro-growth policies and developing modern-state capacity. This backdrop supports consideration of India among Emerging Markets opportunities.
Long-term wealth creation can be achieved through disciplined adherence to a well-crafted plan. But in the words of Mike Tyson, "Everybody has a plan until they get punched in the mouth."
When Doves Fly: Will the U.S. Federal Reserve Board (Fed) shift their monetary policy framework from looking out the windshield to using the rearview mirror?
Bramshill Investments, LLC, Sub Advisor to the Touchstone Flexible Income Fund
As interest rates world-wide remain near all-time lows, income investors have reason to look beyond their usual areas of market concentration. Bramshill makes a case for U.S. preferred securities.
We believe it is important that investors today take a more selective approach to small-cap and mid-cap stocks, often referred to as “SMID-cap” stocks, given elevated levels of low-quality debt.
While we continue to believe that the tariff war will begin to de-escalate later this year, near-term uncertainties are becoming more difficult to estimate.
We believe there is low probability of a protracted trade war between the U.S. and China but think there will likely be intense downward pressure on equities – more so in emerging countries than in the U.S. – if this occurs.
Most developed markets today are hamstrung by weak demographics.
Thought Leadership
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