Capital Market Outlook

IN THIS ISSUE

• Macro Strategy — Yield Curve Inversions, Now and Then: Longer-term real and nominal interest rates have risen despite rapidly declining inflation and an expectation that the Federal Reserve will be cutting interest rates.
  
  
• Market View — Renewable Energy Equities: What Next After the Boom and Bust?: We view the global transition toward a clean energy future as still very much in progress, but a range of factors has led to volatility and steep price declines for related equity markets.
  
  
• Thought of the Week — U.S.-China De-Risking: A Closer Look: The “de-risking" debate is far from over and will remain front and center as the 2024 election approaches.