Stifel Financial Corporation · NYSE:SF
Stifel Financial — Outlook 2023: Finding Balance webinar
11 slides from Stifel Financial's conference presentation, Jan 11, 2023
Slide 1: Outlook 2023: Finding Balance
V I E W R E P O RT V I E W V I D EO with OUTLOOK 2023 Michael O’Keeffe Chief Investment Officer and FINDING BALANCE Brian Gardner Chief Washington Policy Strategist WEBINAR | JANUARY 11, 2023
Slide 2: 2022 Year in Review
2022 YEAR IN REVIEW V I E W R E P O RT V I E W V I D EO INFLATION FED POLICY MARKETS Consumer Price Cumulative Fed GDP S&P 500 Index Inflation* Funds Rate Hike Growth* Return 8.0% 4.25% 1.9% -18.1% *Numbers are estimates and do not yet reflect the final result. 2
Slide 3: 2023 Outlook
2023 OUTLOOK V I E W R E P O RT V I E W V I D EO 2023 FORECAST 2023 FORECAST U.S. Real GDP -0.5%–+0.5% S&P 500 4,000 Core PCE Inflation (4Q/4Q) 3.50%–3.75% 10-Year Treasury (%) 3.25%–3.75% Federal Funds Rate 4.75%–5.00% Market Pulse Publications* 25 Investment-Grade Spreads 100 – 150 bps (bps)** Hig
Slide 4: The Bull and Bear Have Fat Tails
THE BULL AND BEAR HAVE FAT TAILS V I E W R E P O RT V I E WVIEW V I D VIDEO EO INFLATION MONETARY POLICY EARNINGS Given elevated levels over the last The Fed will try to set policy in response Once the path of inflation and Fed policy couple of years, the path of inflation will to the path of inflat
Slide 5: Allocation Insights: Fixed Income and Alternatives
ALLOCATION INSIGHTS V I E W R E P O RT V I E W V I D EO DYNAMIC LEANINGS Underweight Neutral Overweight ASSET CLASS CURRENT COMMENTS U.S. Investment Bond yields are the most attractive they have been in the last 10–15 years, despite coming off of recent highs. Near-term volatility and an economic sl
Slide 6: Allocation Insights: Equity
ALLOCATION INSIGHTS V I E W R E P O RT V I E W V I D EO DYNAMIC LEANINGS Underweight Neutral Overweight ASSET CLASS CURRENT COMMENTS U.S. Equity vs. While non-U.S. equity relative valuations remain attractive for longer-term investors, we remain neutral given the global economic and Non-U.S. Equity
Slide 7: Signposts
SIGNPOSTS V I E W R E P O RT V I E W V I D EO Alignment of market Trough in Wage growth Labor market Diplomatic expectations and Fed consumer slowing to the moving closer progress in forecasts confidence Fed’s to equilibrium numerous preferred level geopolitical hotspots China is on path to Shelter
Slide 8: Washington Policy and Political Outlook
WASHINGTON POLICY V I E W R E P O RT V I E W V I D EO AND POLITICAL OUTLOOK • Division in the GOP • Regulatory Agenda • Congressional Priorities • 2024 Elections 8
Slide 9: Geopolitical Tensions
GEOPOLITICAL TENSIONS V I E W R E P O RT V I E W V I D EO EVENT LIKELIHOOD MARKET IMPACT U.S.-China Competition 10 7 The New Cold War 8 7 Emerging Market (EM) Political Uncertainty 7 5 Cyberattacks 7 5 Middle Eastern Tensions 7 5 Washington D.C. Gridlock 6 6 Climate Change Stalemate 6 4 Major Terror
Slide 10: Other Articles
OTHER ARTICLES V I E W R E P O RT V I E W V I D EO Where to Five Tips to Find Stifel Navigate a Guidance Bear Market stifelinsights.com Our Stifel’s Investment Approach Management to Asset Process Allocation 10
Slide 11: Finding Balance
V I E W R E P O RT V I E W V I D EO with OUTLOOK 2023 Michael O’Keeffe Chief Investment Officer and FINDING BALANCE Brian Gardner Chief Washington Policy Strategist WEBINAR | JANUARY 11, 2023 One Financial Plaza | 501 North Broadway | St. Louis, Missouri 63102 | (314) 342-2000 Stifel, Nicolaus & Com
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