TAM Market Pulse: Tom Wald

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. 

3005266   07/23

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. 

2895554  05/23

The Federal Reserve’s decision to raise interest rates again in March was expected. The collapse of two respected banks was not. These are interesting times indeed for investors, and questions abound. Has a crisis been averted? Is this another 2008 scenario? Will a recession begin by year-end? How severe would a recession be if one occurs? And what can investors expect next from the Fed, as well as the stock and bond markets? Transamerica Asset Management (TAM) CIO Tom Wald discusses the background and market impacts of recent turmoil in banking, as well as the future path of interest rates after the Federal Reserve’s March meeting. Tom breaks down each question in clear and simple terms to provide investors with important knowledge they need today. 

2822499  04/23

The market landscape changed over the first two months of 2023, and investor expectations followed. Tom Wald, CIO of Transamerica Asset Management, Inc., breaks down everything that transpired during the past two months in a new Market Pulse, looking closely at the primary areas of investor concern and what it means for stock and bond markets going forward. Is recession no longer a foregone conclusion? How stubborn can we expect inflation to be? How likely — or more to the point, unlikely — is the Federal Reserve to pivot on interest rates in the second half of the year? Tom explores these questions and more as stock and fixed income investors assess a changing landscape. 

2744842   0223

Good riddance, 2022. That’s probably how many investors feel about the end to a year that saw stocks and bonds suffer meaningful losses. And as they look forward to 2023, investors are probably asking if we’ve “outrun the bear,” so to speak, and whether they should stay on their current course. Good questions. In a new Market Pulse, Tom Wald, CIO of Transamerica Asset Management, Inc., discusses his recently published “Transamerica 2023 Market Outlook,” and breaks down the major opportunities, risks, and issues to follow in the months ahead. Tom offers his keen insight into the U.S. economy, U.S. and international stocks, interest rates, and credit markets to set the stage for what investors are certainly hoping will be a better year. 

 2643688  1222

There have been few places for stock and bond investors to hide over the past 12 months, but is there reason to believe markets may react more favorably in 2023? In his latest Market Pulse, Tom Wald, CIO of Transamerica Asset Management, Inc., explores what wary investors should be watching as the calendar turns, including interest rates, inflation, and the potential impact of recent midterm elections. Markets are the great discounter of future events, and history has shown us that when investor concerns are resolved and negative cycles conclude, things can change for the better. Tom applies lessons from market history to examine what 2023 may hold in store. 

2584049   12/22

A September sell-off sent stocks stumbling to their lowest point since November 2020, and longer-term bond yields, as measured by the 10-year Treasury rate, reached their highest levels since March of 2008. There’s no doubt it has been a rough year for weary investors who, by now, must be asking, what’s next? In his new Market Pulse, Transamerica Asset Management, Inc., CIO Tom Wald examines the four main culprits behind the bear market — inflation, interest rates, recession risk, and corporate earnings. Tom also remembers historical ghosts that have scared the markets in past Octobers, and he looks ahead to the November elections and their potential impacts. 

2458131  1022