Invesco US

Markets have been facing some headwinds. But when Brian Levitt, our Chief Global Market Strategist, stepped back from the bearish headlines, to him the bull market appears to have remained intact:

▪️ Treasuries haven’t appeared to have lost their safe-haven status.
▪️ Credit markets have been doing the healthy work of separating stronger borrowers from weaker ones.
▪️ Brian's view of the fundamental AI story hasn’t changed.

Yes, risks remain, but his belief is that markets have a long history of climbing walls of worry.

Read his latest weekly market commentary. inves.co/4BtXXu3

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Ten hours in the car driving his daughter to college brought back a familiar question for our Chief Global Market Strategist, Brian Levitt: Are we there yet? It's one investors may be asking about the bull market ending, as credit became more selective, inflation remained elevated, and markets adjusted to higher rates.

His view: We’re always getting closer to the end of the bull market, but we're not there yet. The indicators he watches suggest the ride may have slowed, but he doesn’t believe it is over yet, and may not be for a while.

Read his latest weekly market commentary. inves.co/4jAF5mN

A chart of the 10-year Treasury yield can look a lot like a Rorschach test. When looking at the same chart, some investors may see a looming debt crisis. Others may see an economy that remains stronger than expected. In examining the evidence behind both views, Brian Levitt, our Global Market Strategist, thinks markets may have adjusted to higher rates rather than signaling a crisis. His view:

▪️ Key market indicators haven’t pointed to a debt crisis. The dollar has been firm, inflation expectations contained, and credit spreads have been relatively tight.

▪️ The more important debate may be strong growth versus slowing growth. Either could be constructive for stocks, but they may favor different market leaders.

Read his latest weekly market commentary. inves.co/4euIKPo

Treasury yields approached 5% in September, yet the stock market remained resilient. Our Chief Global Market Strategist Brian Levitt explains why strong economic growth may support higher yields — and where higher borrowing costs may be creating risks. His takeaways:

▪️ Resilient economic growth, more than inflation or fiscal concerns, appeared to be supporting higher Treasury yields.
▪️ Higher borrowing costs, in my view, have been pressuring lower-quality credit and narrowing stock market leadership.
▪️ Near-5% Treasury yields may be able to coexist with a healthy stock market if earnings and nominal growth remain strong.

Read his latest weekly market commentary. inves.co/477pCD9