Investment Management

Voya Investment Management Market Perspectives

Market Whipsaw Sheared Bears Like Sheep in February

Market Whipsaw Sheared Bears Like Sheep in February

Douglas Coté, CFA, SVP & Chief Market Strategist

February’s rally showed that the market’s most strident bears were overeager in calling the end of this nearly six-year bull run.

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Weekly Commentary and Statistics

Weekly Commentary and Statistics

As expected, the Federal Reserve dropped the “patient” forward guidance language in its policy announcement. Noting that tightening remains unlikely at the April meeting, officials said they want to see further labor market improvement, and be “reasonably confident” of inflation moving toward its 2% target, before lift-off. The statement featured a downgrade of the Fed’s economic assessment.

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Asset Allocation Views: March 2015: Dollar Dominance

By Paul Zemsky, CFA, CIO, Multi-Asset Strategies, Derek Sasveld, CFA, Head of Asset Allocation, Jon Kaczka, CFA, Asset Allocation Analyst

The U.S. dollar rally has continued, with the broad dollar index moving to its highest level since 2003 as expectations for the initial federal funds rate hike have been pulled forward. Concern over the impact of the stronger dollar on S&P 500 earnings has dampened equity returns in the U.S. year to date, while European and Japanese risk assets have continued their outperformance in local-currency terms. Emerging market equities, meanwhile, have relinquished their 2015 gains given the uncertain effect of a tighter Fed.

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Fixed Income Perspectives - February 2015

Fixed Income Perspectives - February 2015

Christine Hurtsellers, CFA CIO Fixed Income; Matt Toms, CFA Head of U.S. Public Fixed Income

The year-to-date choppiness in interest rate, currency and spread markets is a testament to the uncertainty surrounding the ability of the U.S. to remain an island of relative tranquility amidst the macro polar vortex that swirls around it.

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Market Review --  February 2015: Blacking out the Friction

Market Review -- February 2015: Blacking out the Friction

Daniel P. Donnelly, Head of Investment Communications

Though the factors that inhibited domestic equity markets at the start of the year — including weak oil prices, uncertain global economic growth and renewed political tumult in Europe — haven’t gone away, they faded enough in February for investors to send many indexes back near all-time highs. However, the unprecedented wind-down of extraordinary Fed accommodation, looming ever closer, isn’t likely to be as easily dismissed.

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Market Review - 4Q14: Things Gone and Things Still Here

Market Review - 4Q14: Things Gone and Things Still Here

Volatility returned to risk markets in the fourth quarter, as fears about the pace of Federal Reserve normalization and plunging oil markets had investors on edge. Assurances from the central bank that it would take a “patient” approach to the coming rate-hike cycle helped soothe investor concerns about life in a post-QE world, however, extending the domestic bull run through the end of the year.

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