Capital Market Outlook

IN THIS ISSUE

• Macro Strategy — Economic Data Inconsistent With Impending Recession: We believe it would take a period of much weaker economic growth to spur job cuts and a recession.
  
  
• Market View — Meet the New Boss—Election Implications to Consider for Fixed Income Markets: We expect that uncertainty and volatility could be elevated heading into November, but that it will likely subside shortly thereafter.
  
  
• Thought of the Week — Minding the Gap: Bridging the Insurance Coverage Gap Amid Rising Climate Risks: Prioritizing infrastructure investment has potential benefits to both insured parties and investors.