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Capital Market Outlook

October 2, 2023


  • Macro Strategy — Elevated Inflation Uncertainty A Persistent Headwind To Growth: A shock to uncertainty is estimated to have a significant negative effect on real economic variables.
  • Market View — The Era Of Low Borrowing Costs May Be Over—But The Impact Of Near Zero Interest Rate Policies Is Here For Years To Come: The bite of higher interest rates is just beginning to be felt across private and public debt markets.
  • Thought of the Week — No Government Shutdown but Still Maintaining a Wary Eye on Washington: While a U.S. government shutdown has been avoided for now, what's not avoidable is the challenging finances of the U.S. government.

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