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☆ Shift portfolios into quality, reduce small cap exposure, says John Hancock's Matthew Miskin
▼ + stars: | 2023-11-22 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailShift portfolios into quality, reduce small cap exposure, says John Hancock's Matthew MiskinVictoria Greene, G Squared Private Wealth CIO, and Matthew Miskin, John Hancock Investment Management co-chief investment strategist, join 'Closing Bell Overtime' to talk the day's market action.

Persons: John Hancock's Matthew Miskin Victoria Greene, Matthew Miskin, John Organizations: Private Wealth, John Hancock Investment Management

☆ Instant view: Cooler October US CPI raises confidence that Fed hikes done
▼ + stars: | 2023-11-14 | by ( ) www.reuters.com time to read: +8 min

Economists polled by Reuters had forecast the CPI gaining 0.1% on the month and increasing 3.3% on a year-on-year basis. The rally was due to rising investor belief that the Federal Reserve will now be less likely to hike interest rates at future meetings. LINDSAY ROSNER, HEAD OF MULTI-SECTOR FIXED INCOME INVESTING, GOLDMAN SACHS ASSET MANAGEMENT, NEW YORK“Today's Core CPI print was below expectations. "The Fed will not want to step back from its hawkish stance yet; the annual core rate at 4% is still some way away from target. THOMAS HAYES, CHAIRMAN AT HEDGE FUND GREAT HILL CAPITAL, NEW YORK"We're happy to see both headline and core CPI come in lower than expected.

Persons: Hannah Beier, ” BEN JEFFERY, GREG BASSUK, ” “, ” BRIAN JACOBSEN, MENOMONEE, we’ll, ” CHRIS ZACCARELLI, LINDSAY ROSNER, GOLDMAN, ” MATTHEW MISKIN, JOHN, “, ” STUART COLE, Kashkari, Powell, PETER ANDERSEN, ANDERSEN, it's, THOMAS HAYES, OLIVER PURSCHE, It’s, ” Organizations: Reading, REUTERS, Federal Reserve, Labor Department's Bureau of Labor Statistics, Reuters, Treasury, Markets, BMO, Reserve, CPI, ALLIANCE, Fed, Global Finance, Thomson Locations: Philadelphia , Pennsylvania, U.S, WALTHAM, MA, WISCONSIN, CHARLOTTE, GOLDMAN SACHS, JOHN HANCOCK, BOSTON, LONDON

☆ Soaring Treasury yields threaten long-term performance of US stocks
▼ + stars: | 2023-10-26 | by ( Lewis Krauskopf | ) www.reuters.com time to read: +5 min

This year’s climb in Treasury yields is changing that calculus, as government bonds offer income that is viewed as risk-free to investors who hold them to term. The 10-year Treasury yield has climbed about a full percentage point since then. The term premium is the added compensation investors expect for owning longer-term debt and is measured using financial models. Stocks have averaged a forward price-to-earnings ratio of 17.8 over the last 10 years, while the term premium has averaged -0.3%. That compares with a historical average forward P/E of 15.6 and a term premium of 1.4% since 1985.

Persons: Brendan McDermid, ”, Quincy Krosby, Elon Musk, John Lynch, Lynch, LSEG, Matthew Miskin, Keith Lerner, ” Lerner, Lewis Krauskopf, Dan Burns, Ira Iosebashvili, Marguerita Choy Organizations: New York Stock Exchange, REUTERS, Soaring U.S, Treasury, U.S . Federal Reserve, . Treasury, BofA Global Research, LPL, Comerica Wealth Management, Reuters Graphics, John Hancock Investment Management, UBS Global Wealth Management, Advisory, Thomson Locations: New York City, U.S

S&P 500 (.SPX) companies overall are expected to have increased earnings by 1.3% from a year ago, according to LSEG IBES. After a rough September for stocks, "we need some good news" from earnings season, said Matthew Miskin, co-chief investment strategist at John Hancock Investment Management. Inflation dampened company earnings in the first half, after consumer prices surged in 2022 to their highest levels in decades. Investors will also scrutinize company fourth-quarter outlooks, with S&P 500 earnings for the fourth quarter currently expected to rise 10.8% from a year earlier. One clue could come from the consumer discretionary sector (.SPLRCD), where earnings are expected to have jumped by 23.1% from the year-ago period.

Persons: Brendan McDermid, LSEG, Matthew Miskin, You've, you've, Miskin, Rick Meckler, John Hancock, J.P, Morgan Chase, James Ragan, Davidson, Ragan, ”, Oliver Pursche, Caroline Valetkevitch, Lewis Krauskopf, Megan Davies, Ira Iosebashvili, David Gregorio Our Organizations: New York Stock Exchange, REUTERS, John Hancock Investment Management, Cherry, Investments, Reuters Graphics Reuters, Federal Reserve, Treasury, Delta Air Lines, PepsiCo, UnitedHealth, Wealthspire Advisors, Thomson Locations: New York City, U.S, Westport , Connecticut

☆ Analysis: Rising bond yields emerge as pressure point for US stock rally
▼ + stars: | 2023-08-09 | by ( Lewis Krauskopf | ) www.reuters.com time to read: +5 min

This year, it’s largely been a different story, with bond yields rising on better-than-expected economic data. The S&P 500 (.SPX) has rallied over 16% from its March lows, despite a roughly 50 basis point increase in the yield on the benchmark 10-year Treasury note over that time. That dynamic has changed in recent days, however, as Treasury yields have approached last year’s high while the S&P 500 has fallen 2% from its July peak. The bank’s analysts called rising yields "an underpriced risk" for the equity market. The S&P 500 fell 2.3% last week, its biggest weekly drop since March.

Persons: Brendan McDermid, it’s, Keith Lerner, Moody's, Peter Tuz, Refinitiv, Lerner, Matthew Miskin, Lewis Krauskopf, Ira Iosebashvili, Grant McCool Organizations: New York Stock Exchange, REUTERS, Federal Reserve, U.S ., BofA Global Research, Advisory Services, Fitch, Apple, Chase Investment, John Hancock Investment Management, Thomson Locations: New York City, U.S, United States, China, Charlottesville , Virginia, Truist

☆ Rising bond yields emerge as pressure point for US stock rally
▼ + stars: | 2023-08-09 | by ( Lewis Krauskopf | ) www.reuters.com time to read: +5 min

☆ Better balance sheet companies, earnings stability and high ROE are pockets of opportunity: John Hancock strategist
▼ + stars: | 2023-03-20 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBetter balance sheet companies, earnings stability and high ROE are pockets of opportunity: John Hancock strategistMatthew Miskin, co-chief investment strategist at John Hancock Investment Management, joins 'Closing Bell' to discuss where investors could find opportunities in the market and why he thinks growing estimates for financials, industrials and consumer discretionary are too high for 2023.

☆ Tech stocks emerge as haven in sell-off fueled by bank worries
▼ + stars: | 2023-03-15 | by ( Lewis Krauskopf | ) www.reuters.com time to read: +2 min

Among the big tech stocks, Apple Inc (AAPL.O) has fallen 1.5% over that time, while Microsoft Corp (MSFT.O) climbed 3.4% and Intel Corp (INTC.O) rose over 7%. Large tech stocks generally screen well on "quality" metrics, such as balance sheet strength and profit margins, heightening their allure when economic uncertainty arises, said Matthew Miskin, co-chief investment strategist at John Hancock Investment Management. Reuters GraphicsA swift tumble in Treasury yields is also helping boost tech stocks. Tech shares were pummeled in 2022 as the Federal Reserve's aggressive rate hikes drove up Treasury yields, hurting "long duration" assets such as tech stocks. The utilities sector (.SPLRCU) has climbed 1% since last Wednesday, consumer staples (.SPLRCS) has slipped 0.5%, while healthcare (.SPXHC) has dipped 1%.

☆ Wall St Week Ahead Defensives may not be safe place to hide as stock market stumbles
▼ + stars: | 2023-03-03 | by ( Lewis Krauskopf | ) www.reuters.com time to read: +5 min

"Last year it was really easy to hide out in defensives," said Anthony Saglimbene, chief market strategist at Ameriprise Financial. When compounded by the fact that some defensive stocks carry relatively expensive valuations, investors may avoid them even if the broader market sours. The S&P 500 was last up 3.7% in 2023, but had pulled back since posting its best January performance since 2019. However the sector's financial prospects this year are relatively weak; S&P 500 healthcare earnings are expected to fall 8.3% against a 1.7% increase for the overall S&P 500, according to Refinitiv IBES. Should concerns about recession spike, as they did last year, defensives could outperform again on a relative basis, according to investors.

☆ Wall St Week Ahead: Defensives may not be safe place to hide as stock market stumbles
▼ + stars: | 2023-03-03 | by ( Lewis Krauskopf | ) www.reuters.com time to read: +5 min

☆ January CPI accelerates, but trend easing
▼ + stars: | 2023-02-14 | by ( ) www.reuters.com time to read: +9 min

Data for December was revised higher to show the CPI gaining 0.1% instead of the 0.1% fall as previously reported. “It's not going to necessarily influence the Federal Reserve one way or another. "You have a little bit of a negative reaction because these numbers are not going to take the pressure off the Federal Reserve. "The real issue is what is the Federal Reserve going to do, it's pretty widely expected that they're going to raise rates both at their March meeting as well as their May meeting. "There's not much there for the Federal Reserve to give them some sort of a justification for taking their foot off the brake and reducing interest rates."

☆ Wall St Week Ahead Recession fears pose challenge to energy shares after stellar year
▼ + stars: | 2023-01-28 | by ( Lewis Krauskopf | ) www.reuters.com time to read: +5 min

The S&P 500 energy sector (.SPNY) is up 4.2% year-to-date, slightly lagging the rise for the broader index (.SPX). Goldman Sachs, RBC Capital Markets and UBS Global Wealth Management are among the Wall Street firms recommending energy stocks. He said he is slightly overweight the energy sector, including shares of Chevron and Pioneer Natural Resources (PXD.N). But earnings are expected to decline 15% this year, the biggest drop among the 11 S&P 500 sectors. Energy companies executed $22 billion in share buybacks in the third quarter, just over 10% of all S&P 500 buybacks.

☆ Wall Street Week Ahead Recession fears pose challenge to energy shares after stellar year
▼ + stars: | 2023-01-27 | by ( Lewis Krauskopf | ) www.reuters.com time to read: +5 min

☆ Wall St Week Ahead Stock swoon resets valuations but recession risk, rates cloud outlook
▼ + stars: | 2023-01-06 | by ( Lewis Krauskopf | ) www.reuters.com time to read: +5 min

The S&P 500 tumbled 19.4% in 2022, as the Federal Reserve's aggressive rate hikes designed to tamp down 40-year high inflation punished asset prices. The market's 2022 slide cut the ratio of price to forward earnings estimates to around 17 from about 21.7 a year ago, according to Refinitiv Datastream. S&P 500 forward price-to-earnings ratio over timeValuations may still be too high if a recession comes to pass, as many on Wall Street expect. Combined with an expectation of weakening earnings estimates, that would lower the S&P 500 to 3,200, UBS said, roughly 16% below current levels. The 2022 surge in interest rates also could undermine stock valuations by making relatively safe assets like U.S. Treasuries more attractive alternatives.

☆ Wall St Week Ahead Stumbling Treasury rally clouds bond market outlook for 2023
▼ + stars: | 2022-12-30 | by ( Davide Barbuscia | ) www.reuters.com time to read: +5 min

[1/2] A street sign for Wall Street is seen outside the New York Stock Exchange (NYSE) in New York City, New York, U.S., July 19, 2021. December’s BofA Global Research survey showed fund managers were the most overweight bonds versus stocks in nearly 14 years. Benchmark 10-year Treasury yields have climbed over 40 basis points since mid-December to nearly 3.9%, the highest in over a month. At the moment, the Treasury market “is more focused on inflation still than … recession," said Matthew Miskin, co-chief investment strategist at John Hancock Investment Management. Matthew Nest, head of active global fixed income at State Street Global Advisors, believes yields will likely fall in 2023.

The pan-European STOXX 600 index (.STOXX) slipped 0.50% and MSCI's gauge of stocks across the globe (.MIWD00000PUS) shed 0.71%. Emerging market stocks (.MSCIEF) dropped 0.94%. In currencies, the safe-haven Swiss franc and Japanese yen gained, while the Aussie dollar and Chinese yuan underperformed. CHINA FEARSIn Treasuries Benchmark 10-year notes were down 2.8 basis points to 3.674%, from 3.702% late on Friday. The 30-year bond was last down 2.7 basis points to yield 3.725%, from 3.752%, while the 2-year note was down 3.9 basis points to yield 4.4402%.

☆ U.S. yields climb as hawkish Fed concerns outweigh weaker economic data
▼ + stars: | 2022-10-24 | by ( Davide Barbuscia | ) www.reuters.com time to read: +3 min

Speculation about a potentially more dovish Fed - despite U.S. inflation remaining hot - was visible in money markets. But they climbed back again, with the benchmark 10-year Treasury yields up at 4.229% and two-year note yields at 4.498%. On the long end, 30-year Treasury yields rose to an 11-year high of 4.359%. "If the Fed is going to be data dependent, these data points should be a focus point for them. Whether or not that actually happens, is yet to be seen," said Matthew Miskin, co-chief investment strategist at John Hancock Investment Management.

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