Market & Economic Outlook

Drawing on their more than 30 years of investing through multiple economic, market and credit cycles, Calamos Investments offers insights on opportunities in the global marketplace, breaking down the emerging trends and developing storylines to articulate the latest views on the risk-reward scenarios on the horizon.

Economic Review and Outlook, July 2014 July, 2014

In "Navigating Complacency in a Growth Regime," Global Co-CIOs John P. Calamos, Sr. and Gary Black discuss the economic landscape, the upside they see in equities, and how the Calamos team is seeking to guard against short-term volatility that may still occur in a "not-too-hot, not-too-cold" environment.

Economic Review and Outlook, April 2014 April, 2014

In "Seeking Equilibrium," Global Co-CIOs John P. Calamos, Sr. and Gary Black discuss the factors driving market rotation, our global outlook, and the opportunities they see for growth equities.

Global Economic Review & Outlook, January 2014 January, 2014

Global Co-CIOs John P. Calamos, Sr. and Gary Black explain why they believe fundamental research will be especially important in 2014. They also discuss their cautiously optimistic global economic outlook.

Global Economic Review & Outlook, October 2013 October, 2013

In "Tick Tock, Tick Tock," Global Co-CIOs John P. Calamos, Sr. and Gary Black discuss their cautiously optimistic global outlook, the resilience of the global financial markets, and why they believe the U.S. equity market has more room to expand. They also share their perspective on a looming debt-ceiling deadline in the midst of a government shutdown.

Global Economic Review & Outlook, July 2013 July, 2013

In "Recovery Trumps Taper Talk" Global Co-CIOs John P. Calamos, Sr. and Gary Black explain why they believe less QE and moderate long-term rates could ultimately be a positive for the U.S. economy and equity markets. They also discuss their perspectives on the euro zone, Japan, and China.

Global Economic Review & Outlook, April 2013 April, 2013

Global Co-CIOs John P. Calamos, Sr. and Gary Black explain why the Calamos Investment Committee maintains its cautiously optimistic global outlook. They also discuss their constructive views on the equity and convertible markets.

Global Economic Review & Outlook, January 2013 January, 2013 John P. Calamos, Sr. discusses the firm’s cautiously optimistic economic outlook. Although politics and policies will likely continue to contribute to financial market volatility, he sees economic recovery, valuations and secular trends supporting a variety of investment opportunities.
Investment Perspectives, December 2012 December, 2012 John P. Calamos, Sr. discusses his expectation for continued slow growth in the U.S. and the conditions that could spur more robust economic expansion. He explains why the Calamos team has a constructive outlook for equities, convertible securities and mid-grade corporate bonds.
FEATURED MULTIMEDIA

Growth securities typically trade at higher multiples of current earnings than other securities and, therefore, may be more sensitive to changes in current or expected earnings than other equity securities and may be more volatile.

The value of a convertible security is influenced by changes in interest rates, with investment value declining as interest rates increase and increasing as interest rates decline. The credit standing of the issuer and other factors also may have an effect on the convertible security’s investment value.

Price/Earnings Ratio is the current stock price over trailing 12-month earnings per share.

Shiller P/E Ratio is a valuation measure, generally applied to broad equity indices, that uses real per-share earnings over a 10-year period. The ratio uses smoothed real earnings to eliminate the fluctuations in net income caused by variations in profit margins over a typical business cycle. The ratio is also known as the "cyclically adjusted PE (CAPE) ratio" or "P/E 10 ratio."

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" rel="lightbox[flash 640 360]" href="http://www.calamos.com/Media/TVAppearances/5/1/6/{51601BF6-3088-4FA2-BFF8-11999DBAF29C}08-15-2014-gary-black-moneylifeshow-interview.mp4" data-flv="http://www.calamos.com/Media/TVAppearances/3/C/3/{3C3EB55D-46BD-4699-9B35-AEA7A7223789}calamos-08152014-gary-black-moneylifeshow-interview.flv">Gary Black on Money Life Show

August, 2014 Global Co-CIO Gary Black talks with MarketWatch’s Chuck Jaffe and appeared on the radio program Money Life on August 15. In the 12-minute interview, Gary discusses the current market environment including a recent uptick in corporate share buybacks.
John P. Calamos, Sr. on CNBC 06/30/2014
June, 2014 John Calamos, Sr. shares the firm’s mid-year outlook on CNBC.
Gary Black on Bloomberg 06/13/2014
June, 2014 In an interview with Bloomberg TV, Gary Black comments on the U.S. and global growth outlook
John P. Calamos, Sr. on Bloomberg 04/28/2014
April, 2014 John Calamos, Sr. discusses the firm’s history as well as his global economic outlook in an interview with Bloomberg TV.
John P. Calamos, Sr. on Fox Business News 04/28/2014
April, 2014 In a live interview with FOX Business, John Calamos, Sr. shares his current thoughts on asset allocation and global opportunities.
John P. Calamos, Sr. on FOX Business 03/07/2014 (Part 1)
March, 2014 On FOX Business, John Calamos, Sr. shares his market outlook, focusing on growth investing, sectors of opportunity and asset allocation.
John P. Calamos, Sr. on FOX Business 03/07/2014 (Part 2)
March, 2014 John Calamos, Sr. explains how long-term secular themes may play into what he believes will be a more selective emerging market environment.