Investment Management

Voya Investment Management Market Perspectives

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Weekly Commentary & Statistics:

Weekly Commentary & Statistics:

U.S. equity indexes posted another week of solid gains with the Nasdaq, S&P 500 and Dow Jones reaching record levels during the period. Small-cap stocks also reached a new record high with the Russell 2000 gaining over 2% for the week contributing to an approximate year-to-date gain of 18.5%. Oil was slightly up and gold closed lower for the period. The 10-year U.S. Treasury note yield ended the week at approximately 2.4%.

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Voya Multi-Asset Perspectives - PDF

By Barbara Reinhard, CFA, Multi-Asset Strategies

Since election day domestic equity markets have rallied to all-time highs on expectations that President-Elect Trump’s plans will be supportive. We think the rally can run quite a bit longer; only over the past two weeks have we seen meaningful net inflows to equities. Since mid-October, bond yields have climbed unabatedly, mostly wiping out YTD gains for 10-year U.S. Treasuries. In our view, bonds are still expensive but getting more interesting. We believe equities can withstand a 10-year U.S. Treasury yield up to 2.75% before being negatively affected.

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Fixed Income Perspectives -- PDF -- Fixed Income in a Post-Election World

With Republicans soon to be in control of all three governmental branches, the likelihood of significant policy change is high. As a result, the focus for investors has shifted to four key points: tax policy, deregulation, fiscal spending and trade policy. In this post-election world, we believe there is potential for upside in certain risk assets; we continue to favor U.S. centric risk while also being mindful that inflationary influences are likely to bias interest rates higher.

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Market Insight: Impact of the Credit Cycle on Security Selection - PDF

Kurt Kringelis, CFA, CPA, JD, Head of Credit Strategy

Deeper understanding of the credit default cycle helps managers make better security selections. This Insight dispels several myths about the relationships between credit spreads and credit curves, and the varying impact of market swings on maturity buckets.

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Market Insight: A Bottom-Up View of the Corporate Credit Cycle - PDF

Kurt Kringelis, CFA, CPA, JD, Head of Credit Strategy

Understanding industry-level credit cycle dynamics can help investors assess investment opportunities. At this point in the corporate credit cycle we still see positive return potential, but believe a tactical, risk-aware strategy is the best approach.

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