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It is worth noting that rising interest rates have compressed S&P 500 price-to-earnings multiples in the past. However, current interest rates will be rising from historically low levels during this cycle. Additionally, Fed communication on the pace of tightening after the initial hike should remain an influential factor for US equity market volatility and performance.
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This blog post is provided for informational purposes only and should not be construed as investment advice. Any opinions or forecasts contained herein reflect the subjective judgments and assumptions of the authors only and do not necessarily reflect the views of Loomis, Sayles & Company, L.P. Information, including that obtained from outside sources, is believed to be correct, but Loomis Sayles cannot guarantee its accuracy. This material cannot be copied, reproduced or redistributed without authorization. This information is subject to change at any time without notice. Market conditions are extremely fluid and change frequently.
