CSA News and Press, VictoryShares US Small Cap Volatility Wtd ETF From 01/27/23

Summary While the US economy remains in growth territory this year, the odds are rising that it will stumble into a recession during 2023. 2022 was a down year for most asset classes, with the FOMC raising the Fed funds rate by over 400 bps while battling inflation. We expect the cr...

Summary Inflation will continue as the hot story of 2023, and it may have a surprise in store very soon. The Fed appears to be blind to serious problems in the labor market. As a result, its crushing down of the economy could counterintuitively make inflation worse by the end of the...

Summary As we look to 2023, we don’t believe a recession is inevitable as many do; a soft landing is within the realm of reason, or at the very least, a no landing, as was the case in 2022. We’ve long held to a proprietary investment approach which postulates that three cy...

Summary The S&P 500 is very expensive on a PE multiple basis. The index is also very expensive relative to the 10-year rate. This is for earnings growth that is deteriorating. The next leg of the bear market could be here, as investors begin to turn their attention awa...

Summary After a 3.0% expansion in 2022, world real GDP is now projected to increase 1.9% in 2023, up from last month's forecast of 1.6% growth. Monetary tightening, cooling demand, and supply chain resilience are driving disinflation. Declines in industrial commodity prices are now movi...

Summary The pandemic bubble was driven by low rates as much as it was by over enthusiasm, unlike the 2000 tech bubble which occurred against a backdrop of relatively high rates. While IT spending surged during the pandemic, it was nothing like the late 90s, making an investment hangover...

Summary Tightening monetary policy drove rising 10-year Treasury bond yields and pressured equity valuations in 2022. Interest rates will drive the market environment, to some extent, according to our U.S. growth and core equity and U.S. value equity teams. Given the lagged impact, ...

Summary Introduction. The State of Ambivalence. Clouds on the horizon. For further details see: State Of Ambivalence

Summary We have hit the debt limit; we have a problem. How can we put off the problem and make someone else deal with somewhere down the road? Both political parties, in my opinion, don't really want a solution to the "debt" problem; they just want to send it off once again into the...

Summary The long-awaited downturn in global trade will take place in 2023. Supply chain realignments that have been years in the making will begin to take effect. Government policies launched in 2022 will bear fruit in 2023 and include subsidies for semiconductors and automotive electri...