TAM Market Pulse: Tom Wald

Funny thing about the markets — sometimes they behave in ways that correspond with the general aura of events occurring in the world around them. As fall begins, is this one of those times? Join Transamerica Asset Management, Inc., CIO Tom Wald for a new Market Pulse podcast as he discusses an array of forces that could potentially impact the markets in the coming months. Topics include what’s next for Federal Reserve monetary policy and the interest rate environment, current stock catalysts, the prospects for economic growth, and November’s elections. Hear Tom’s insight into a historical market and a historical year, and what he expects to unfold this fall.

After an eventful first half of 2024, what can investors expect over the rest of the year? In a new Market Pulse, Transamerica Asset Management, Inc., CIO Tom Wald discusses his 2024 Mid-Year Market Outlook and provides in-depth analysis of the U.S. economy, equity and fixed income markets, and international stocks. Tom offers his year-end forecasts for GDP growth, the S&P 500®, and interest rates. He compares the positioning of growth and value stocks in the current environment, talks about why increasing equity allocations to international developed stocks might make sense, and looks ahead to the November elections. 

The most recent bear market appears to have come and gone, and stocks have rallied to reach all-time highs amid concerns about a possible recession, inflation, corporate earnings, interest rates, and election year uncertainties. In fact, the S&P 500® has seen an upside move of 50% since October of 2022, when the bear bottomed out. Are the market’s current tailwinds enough to push stocks even higher, or is its resilience already reflected in current prices, making now the time to expect a pull back? Tom Wald, Chief Investment Officer of Transamerica Asset Management, Inc., discusses in a new Market Pulse his outlook for stocks following their recent climb to record levels. Hear Tom assess how well positioned stocks are and why he sees corporate earnings growth as their most important catalyst going forward. 

It’s understandable if some investors feel these days a little like Charlie Brown trying to kick a football, only to see Lucy pull it away at the last second to send Charlie flying. As inflation reports continue to raise eyebrows and market volatility increases, the Federal Reserve and the economy may keep everyone guessing a bit longer. Tom Wald, Chief Investment Officer of Transamerica Asset Management, Inc., uses his latest Market Pulse to discuss recent changes to his interest rate forecasts, inflation trends, and the overall economy, as well as current opportunities in equity and fixed income markets. Investors might be trying to predict when, or even if, the Fed will act. Would they be better served focusing elsewhere, such as on some high-quality, investment-grade bonds offering rates that are near multiyear highs? Hear Tom’s thoughts on these opportunities and more. 

Things are not all rainbows and puppy dogs these days, but growth for the U.S. economy and corporate earnings has looked stronger early in 2024 than most expected. And with these surprising numbers comes revised expectations. In his newest Market Pulse podcast, Tom Wald, CFA® and CIO of Transamerica Asset Management, Inc., updates his yearly forecast for stocks and the economy. Tom discusses what he expects for gross domestic product growth this year, and why he no longer believes a recession is likely. He also shares his new year-end price target on the S&P 500® and his thoughts on portfolio positioning and interest rates. 

How will markets respond to a potential recession in 2024? Where should fixed income investors be in the year ahead? What catalysts may push U.S. stocks to record highs, and where should we expect interest rates to be in a year. Look forward to 2024 with the latest Market Pulse podcast with Tom Wald, CFA® and CIO of Transamerica Asset Management, Inc. Hear Tom discuss his recently published Transamerica 2024 Market Outlook and his thoughts on what investors need to know about the U.S. economy, interest rates, fixed income, U.S. stocks, and international equities in the new year. Tom also looks at the 2024 elections and what their outcomes may mean for tax and economic policy.

In recent weeks, long-term interest rates surged before reversing course. Economic data was strong, then slowed. Stocks corrected and then rallied. How do investors make sense of all this? In his latest Market Pulse podcast, Transamerica Asset Management, Inc., CIO Tom Wald explores the crosscurrents swirling in the current market environment and the forces influencing them. Those include the Federal Reserve’s recent decision to leave interest rates unchanged, the immediate future for economic growth, and the track inflation is on. Hear Tom’s take on what he sees unfolding next in the markets and economy, and where he believes opportunities remain for investors in the 2024 and beyond. 

What should investors make of the recent market sell-off? What has the sharp increase in long-term interest rates meant for stocks and bonds? Has the inverted yield curve finally begun to dis-invert? Finally, could there be a meaningful difference between the Federal Reserve’s expectations for future interest rates and their actual path? In a new Market Pulse, Tom Wald, Transamerica Asset Management, Inc., Chief Investment Officer, discusses the market impacts and paths forward following a volatile month of rising interest rates. Tom breaks down recent market activity and what he believes investors should focus on as we enter the final quarter of 2023. 

Halfway through 2023, is it “game on” for investors? Last year’s brutal bear market compelled many to get out of the game, and we are not out of the woods yet. But what happened over the past six months has left much for investors to consider. And the message the current market environment may be sending to those who went to the sideline in 2022 is less about whether long-term opportunities are out there, and more about what the best ones might be. In his latest Market Pulse, Transamerica Asset Management, Inc., CIO Tom Wald discusses his 2023 Mid-Year Market Outlook and looks forward to the second half of the year. Tom previews what he sees unfolding in the coming months with the economy, interest rates, credit markets, U.S. and international stocks, and how each may impact investors. 

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At the conclusion of its May meeting, the Federal Reserve did not clearly indicate if it plans to raise interest rates again in June or pause and potentially conclude the current tightening cycle. Or did it? Tom Wald, CIO of Transamerica Asset Management, Inc., shares his perspective on what actions the Fed may or may not take next in a new Market Pulse. Tom examines rationale the Fed could use as it considers ending rate hikes, and he looks at whether recent developments have made a recession by year-end more likely to occur. And Tom discusses opportunities and risks awaiting stock and fixed income investors, as well. 

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