Perspectives
Stay up-to-date with the current investment and macroeconomic issues at ClearBridge Investments. We provide analyses of the themes and trends which lie at the heart of your investment challenges.
Infrastructure Multiples Point to a Potential Rerating
Despite headwinds to defensive stocks, infrastructure’s strong earnings growth, attractive valuations and predictable dividend stream make us quite constructive on the sector.
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The Challenge of Powering AI
The accelerating pace of power demands among AI aspirants is putting pressure on an already stretched electrical grid, which may cause a resetting of AI growth expectations. Higher power demand and pricing are creating powerful tailwinds for cyclical stocks supporting the AI buildout.
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AOR Update: Wage Moderation Allows Fed Patience
Jeff Schulze and Josh Jamner examine why slowing wage growth in the U.S. should offset fears that recent hot inflation prints could spur additional Fed tightening. They also explain how wages have achieved a “Goldilocks” zone supportive of a soft landing.
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Will Renewables Survive the Energy Transition?
While public funding for renewables may face increasing policy risk, regulators will continue to provide attractive returns for regulated utilities supporting the energy transition.
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Valuation of Infrastructure Assets Q1 2024
In our latest Valuation update, Portfolio Manager, Simon Ong discusses the contributors to infrastructure returns in the first quarter of 2024, and weighs in on the factors impacting different infrastructure sectors across the globe.
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International Companies Drive Diabesity Innovation
Diabetes and obesity (“diabesity”) have rapidly become the largest opportunity in health care, with an estimated total long-term addressable market of $100 billion in the U.S. alone. Research & development outside the U.S. has provided actionable insights into the blockbuster market for diabesity treatments.
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The Long View: A Unique Cycle
The distinct nature of the current economic cycle appears to have tripped up many traditional recession indicators. Several leading indicators have improved over the last six months, including an upgrade of the ClearBridge Recession Risk Dashboard to yellow from red.
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AOR Update: It's Looking Different
Unsynchronised post-pandemic business cycles look to have spoiled recession expectations, with the ClearBridge Recession Risk Dashboard moving from red to yellow, favouring a soft landing.
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AOR Update: Soft Landing Coming into View
The overall reading of the ClearBridge Recession Risk Dashboard, while still in red or recessionary territory, is nearing the threshold for yellow.
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Unlock the Potential of Infrastructure Through Active Management
Portfolio Manager, Nick Langley highlights how the energy transition and reshoring of supply chains underline the need for active management in the infrastructure space.
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The Impact of Bond Yields on Infrastructure Assets
Watch Portfolio Manager, Nick Langley explain the impact that bond yield volatility has on the infrastructure asset class.
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The Long View: Here Comes the Sun?
Several rays of light are showing through the macro clouds, including an increasing likelihood of a soft landing with the Fed being in a more flexible position as inflation moderates and three positive indicator changes for the ClearBridge Recession Risk Dashboard in the last quarter.
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