Capital Markets Outlook Winter 1Q13
Clouds Parting, Revealing Opportunities
January 30, 2013
As the world economy continues to grow, some headwinds have been resolved, even as others remain. The ride may not have been comfortable, but most market sectors produced strong returns in 2012. We also see indications that active management may be poised to come back into favor in equities, and remain important in fixed income. Big-picture macro drivers seem to be receding, and sizable valuation differences among securities seem to present opportunities for research to thrive.