Winter 2018
Market Outlook – PMA Asset Management’s 2017 market outlook called for improved returns for short-term investors and limited returns in the fixed income market with higher prospective returns for U.S. equities. While the trend and direction of our estimate has thus far proved correct, an improving global economy, stronger corporate earnings and the halo of prospective tax reforms pushed equity and credit markets above their respective targeted returns.
Summer 2018
Market Outlook – PMA Asset Management’s outlook is for increased market volatility and limited returns in the U.S. fixed income and equity market. While economic indicators and earnings growth are trending higher, we remain skeptical of the sustainability of the U.S. economic expansion and market valuations are not particularly attractive. Thus far in 2018, market returns have evolved largely in line with our expectations.
