International – Putnam Perspectives

Don’t overlook international small caps

When focused on diversification one asset class that is often overlooked is non-U.S. small-caps.

The evolution of time-as-a-service illustrates the changing nature of economic moats, competitive advantages that protect a company’s market share.

We examine the interplay between President Biden’s multi-trillion-dollar stimulus plans, the labor market, and corporate profits.

The Federal Reserve remains dovish on monetary policy as bond market vigilantes push yields higher.

We believe that pandemic-related bottlenecks have temporarily lifted U.S. inflation. Still, the underlying inflation trend is weak.

It is strategic for the U.K. to have a trade deal with the EU given the short- and long-term negative effects of Brexit.

The U.S. labor market continues to lose steam as fewer Americans were able to find work amid surging Covid-19 cases.

Oil prices are likely to trend slightly higher as OPEC+ mulls maintaining lower output in 2021 and demand recovers in key markets such as China.

Governments are trying to calibrate their policies to support growth as “fiscal cliffs” loom amid a resurgence in the virus.