The Long View

Viewpoints

The Penn Mutual Asset Management perspective.

Latest Stories

Geopolitical Risks, Market Forecasts and a Tax Reform Clause

By Mark Heppenstall | August 30, 2017

While trading slowed during the summer months, as it historically does, the headlines did not! From squashed healthcare reform to placing sanctions on North Korea to the Amazon/Whole Foods deal, there was no shortage of market-moving news in the last several months. Before we unofficially say goodbye to summer next week, we checked in with CIO Mark Heppenstall for his take on what’s been happening in the news cycle and its impact on markets as well as what investors can expect leading into the final quarter of 2017.

How Long Will our ‘Goldilocks’ Economy Under Trump Last?

By Penn Mutual Asset Management | August 9, 2017

Penn Mutual Asset Management CIO Mark Heppenstall contributed an article to The Hill where he discusses the current gridlock in Washington, the “new normal” economic environment and investment trends amid low volatility. Mark anticipates all these factors will extend the credit cycle into extra innings and enable the Fed to be patient with future rate hikes.

The Odds of Trump Tax Reform are Tied to This Area of the Stock Market

By Penn Mutual Asset Management | April 12, 2017

Penn Mutual Asset Management CIO Mark Heppenstall contributed an article to The Hill where he outlines how the “Trump Trifecta” of taxes, regulation and infrastructure stand to impact markets. Despite the recent failure of Trump’s healthcare reform plan, Mark notes the stock market continues to look past headlines and toward the president’s pro-growth policies. He expects the financial sector will be best positioned to benefit from the new administration’s economic agenda.

PMAM CIO Mark Heppenstall on Safe-Haven Plays with CNBC “Closing Bell”

By Penn Mutual Asset Management | April 12, 2017

PMAM Chief Investment Officer Mark Heppenstall appeared on CNBC “Closing Bell” last Friday amid the day’s breaking news of a surprisingly weak March employment report and unexpected geopolitical news. He offered his thoughts on safe-haven plays, noting the markets have been quick to shake off politically-driven news from Washington D.C., but investors are still looking for safety. He points to treasury inflation-protected securities (TIPs) as an option for investors, since they pay a current income and are especially attractive as inflation pressures build.

PMAM CIO Mark Heppenstall on Where to Find Value in Q2 with Fox Business

By Penn Mutual Asset Management | April 4, 2017

On Friday, PMAM’s Chief Investment Officer Mark Heppenstall appeared on Fox Business “Countdown to the Closing Bell with Liz Claman” to discuss the market’s resiliency throughout the first quarter despite setbacks, such as the failure to repeal the Affordable Care Act. He also shared his outlook for the second quarter, noting the financial sector stands to benefit from the “Trump Trifecta” of taxes, regulation and infrastructure, as well as rising interest rates.

Capital Market Outlook for 2017

By Mark Heppenstall | January 20, 2017

Nearly eight years into one of the most unloved bull markets ever for U.S. equities and credit, the rally now appears ready for “extra innings.” Despite increasingly full valuations and an earnings recession for U.S. companies during a recent five-quarter stretch, proposed economic policies under the Trump administration will be supportive of domestic economic growth and corporate profits.

What Investors Can Expect from the Federal Reserve in 2017

By Penn Mutual Asset Management | January 11, 2017

Penn Mutual Asset Management CIO Mark Heppenstall contributed an article to The Hill where he shared his outlook on what investors can expect from the Federal Reserve (Fed) in 2017.

Economic and Market Review for 2016

By Mark Heppenstall | January 10, 2017

The markets hit record highs in 2016, and we are taking a look back at the factors that influenced the U.S. and global markets throughout the year with a comprehensive economic review of 2016.

President-Elect Trump and the Markets

By David O'Malley | November 9, 2016

The election results are in with Republicans controlling both houses (with slimmer majorities) of Congress and the Presidency. As I watched it all unfold into the early morning hours, it became clear the historic and unexpected election results caught pundits and the markets off guard.

PMAM CIO Mark Heppenstall Appearing on CNBC Power Lunch Today

By Penn Mutual Asset Management | October 24, 2016

Tune into CNBC Power Lunch this afternoon at 1:15 p.m. ET to see Chief Investment Officer Mark Heppenstall offer his perspective on what is moving U.S. markets. He will discuss the most significant uncertainties adding pressure to the global economy and share his expectations for the fourth quarter.