EMO News and Press, ClearBridge Energy Midstream Opportunity Fund Inc. From 10/31/22

Summary International markets faced headwinds as slowing economic growth and hawkish monetary policy by central banks stoked investor fears of a possible global recession. The Strategy outperformed its benchmark, as high-quality stocks in the materials and industrials sectors over...

Summary The lower rates and looser monetary policy that helped propel growth to its zenith are evaporating, setting the stage for value to cement its leadership in this new market cycle. Market movements are increasingly driving sentiment and outlooks, which is evident in the over...

Summary The combination of extremely depressed stocks and improving fundamentals is a powerfully bullish combination for long-term value investors. Despite being at all-time historical lows, the market is pricing financials and energy stocks as if they have the greatest earnings r...

Summary Having suffered through a sharp decline in earnings multiples, small cap growth stocks held up well in a volatile quarter marked by a sharp upward ratcheting of interest rates. The Strategy underperformed its benchmark, primarily due to weakness among health care holdings ...

Summary The market is greatly overestimating the effect of higher rates and inflation on durable goods, materials and financial companies, while underestimating the impact on speculative assets. The Strategy underperformed its Russell 2000 benchmark, as positive contributions from...

Summary Equity markets continued their downward slide during the quarter, as investors grew increasingly anxious over aggressive interest rate increases and the growing likelihood of a recession. The Strategy underperformed its benchmark, as positive contributions in industrials a...

Summary Equities continued their slide during the third quarter, as investors grew increasingly anxious over the combination of aggressive interest rate increases and a growing likelihood of recession. Health care proved an impediment to relative performance, as the evaporation of...

Summary Markets beginning to price in a reasonable chance of recession, both domestically and abroad, led to dramatic moves across various often uncorrelated asset classes, with wide ranging implications across global economies. The Strategy held up well relative to the Russell 10...

Summary Weakness in the Strategy’s consumer discretionary and technology names and underweights to several outperforming mega cap growth stocks weighed on performance relative to the benchmark. Weakness in the Strategy’s consumer discretionary and technology names an...

Summary The Strategy outperformed for the second quarter in a row, thanks in large part to positioning adjustments made over the last year in preparation for these extreme macro headwinds. We enhanced a focus on sturdy, secular growth businesses with three new additions to the portfol...