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Outlooks

Outlook July 2018
Economic Outlook, July 2018 July 23, 2018

Fears of an imminent U.S. recession are premature; tax policy and a more business-friendly regulatory environment provide long-term catalysts for the economy. Although conditions outside the U.S. are less encouraging, positive global growth should continue, albeit with growing divergence among countries. The need for active risk management has increased at this point of the economic cycle, and we believe the Calamos portfolios are well positioned.

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Outlook April 2018
Economic Outlook, April 2018 April 13, 2018

Volatility has returned to the markets in dramatic fashion. The shifting terrain may be jarring for some, but the conditions we are seeing today are more normal than recent years, when investors grew accustomed to record low interest rates, a near-absence of inflation and the subdued volatility. As a more typical environment emerges, our teams are identifying opportunities across asset classes.

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Economic Outlook, January 2018 January 17, 2018

In 2018, many positive economic tailwinds set the stage for additional upside in stocks and other equity-sensitive assets, including convertible securities and high yield bonds. However, investors should not be surprised if volatility begins a slow return to its longer-term trend.

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Economic Outlook, October 2017 October 13, 2017

As synchronized global growth continues and reflationary tailwinds strengthen, we see additional upside in the global business cycle and in turn, for equities, convertible securities, and select areas of the credit markets.

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Economic Outlook, July 2017 July 24, 2017

We see a favorable backdrop for equities and convertible securities through the remainder of the year, although late-cycle pressures may increase going into 2018.

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Economic Outlook, April 2017 April 17, 2017

Our Investment Committee discusses the health of the U.S. and global economies, the impact of politics on the markets, and why they believe the markets can move higher from here.

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Economic Review and Outlook, January 2017 January 19, 2017

Our Investment Committee considers the potential impact of a new presidential administration on the economy, and shares their views on interest rates, market volatility and opportunities across asset classes.

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Economic Outlook, October 2016 October 13, 2016

In “Politics, Populism and Policy: Confronting Another ‘Wall of Worry,’” the Calamos Investment Committee discusses positioning in an environment of uncertainty.

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Economic Outlook, July 2016 July 14, 2016

As U.S. equity markets soar, the Calamos Investment Committee considers the risks and opportunities in the global financial markets.

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Calamos Economic Outlook, April 2016 April 15, 2016

Our positioning remains cautious but not defensive. In a slow growth environment, growth stocks remain attractive, but a weakening dollar and stimulative central bank policies have created select opportunities among cyclicals.

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Calamos Economic Outlook, January 2016 January 13, 2016

The markets have gotten off to a rocky start in 2016. While we expect volatility to remain elevated, we see a range of opportunities across asset classes.

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Calamos Economic Outlook, October 2015 October 19, 2015

We remain positive about opportunities in growth equities and convertibles but expect volatility to remain elevated amid fiscal and monetary policy uncertainties.

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Commentary

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Navigating Volatility: Calamos Hedged Equity Income Fund February 22, 2018

As volatility has picked up, investors have gained a renewed appreciation for funds that have been able to steer clear of the worst of the downside while still participating in upside. In this Q&A, John P. Calamos, Sr. and Eli Pars discuss how Calamos Hedged Equity Income Fund has risen to the challenge of volatile markets.

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Reasons to Look Forward to 2018 February 01, 2018

John P. Calamos, Sr. discusses economic and policy trends that can provide tailwinds to the markets.

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The Longer-Term Opportunity in Emerging Markets September 29, 2017

Our Global Equity Team discusses trends supporting the potential for sustained outperformance in emerging market equities over the next three to five years.

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Perspectives on Fixed Income: “Thinking Outside the Box” to Achieve Long-Term Results September 29, 2017

Co-CIO and Head of Fixed Income Strategies Matt Freund, CFA, discusses the Calamos approach to fixed income and its key differentiators. He also shares his view of fixed income opportunities in the current environment.

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The Case for Strategic Convertible Allocations March 30, 2017

John P. Calamos, Sr. and Eli Pars discuss the role of convertible securities within portfolios, the value of active management, and encouraging global trends within the convertible market.

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Easing Global Headwinds Point to Higher Equities in 2017 January 24, 2017

Michael Grant, Sr. Co-Portfolio Manager of Calamos Phineus Long/Short Fund, discusses how populism, monetary policy, and a new U.S. presidential administration shape his team’s outlook for the global economy and markets. He also explains how the fund is positioned to capitalize on reflationary tailwinds.

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Positioning for the Late Stages of the Bull Market: 2017-2018 September 27, 2016

Michael Grant, Sr. Co-Portfolio Manager of Calamos Phineus Long/Short Fund, shares his team’s views on why they see more optimistic storylines on the horizon and how macro considerations are influencing the fund’s positioning.

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Tracking the Growth Catalysts in Emerging Markets September 21, 2016

Co-CIO Nick Niziolek explores the trends influencing emerging markets equities, including market fundamentals and secular growth themes.

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Emerging Markets Rally | Calamos Investments
Does This Emerging Market Rally Have Legs? August 05, 2016

Our Global Equity Team discusses a combination of conditions we see that could support EMs over the next year and beyond.

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EM Bounce or Rally? The Way Forward March 26, 2016

With the emerging markets rallying since late January, Nick Niziolek, CFA, Co-CIO provides an emerging markets update and discusses where the team is finding opportunities for our selective approach.

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Fine-Tuning Exposure to Emerging Economies March 10, 2016

We believe EMs offer tremendous long-term growth potential but selectivity is critical. Our approach is differentiated by our focus on revenue mapping and secular growth themes, as well as our opportunistic use of convertibles.

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Identifying Global Growth Opportunities Through a Thematic Lens March 14, 2016

Nick Niziolek and Dennis Cogan explain why an emphasis on secular themes is integral to our global growth investing approach.

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What Do Rising Interest Rates Mean for Your Asset Allocation? December 16, 2015

In this issue of “Investor Insights,” John P. Calamos, Sr. discusses the potential benefits of convertibles, growth equities and select alternative strategies.

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Closed-End Fund Discounts: Is the Trend Reversing? Thumbnail
How Long Will the Unusually Good Values in Today’s CEF Market Last? October 14, 2015

Consistent with the general market sell off, Calamos CEFs offer unique values at current price points on both an absolute current and historical basis compared to their respect NAVs.

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Managing Short-Term Uncertainties with a Proactive Approach March 31, 2015

John P. Calamos, Sr. discusses asset allocation considerations in the current environment, including strategies to potentially mitigate the impact of an eventual rise in interest rates.

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Global Insights February 11, 2015

Commentary and analysis from senior members of our global investment team, with an introduction from Global Co-CIO John P. Calamos. Sr.

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Alternatives 101: Tools for Enhancing Asset Allocation February 13, 2015

This brochure provides an introduction to Alternative Investments, and explores that many types of alternative funds. Learn how an alternative allocation may potentially enhance a portfolio’s diversification and decrease exposure to market volatility.

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Perspectives on Credit Quality and Convertibles August 13, 2014

Co-Portfolio Manager Eli Pars discusses how the merits of an unconstrained quality approach may be especially pronounced in the current environment. He explains why strategies that are not confined to investment-grade issues offer enhanced opportunities to pursue a broader range of opportunity and to mitigate risk over full market cycles.

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Enhancing LDI Strategies with Convertibles September 19, 2014

Eli Pars, CFA, co-portfolio manager, discusses the growing role of LDI strategies in pension schemes and how convertibles may address some of the inherent trade-offs of LDI strategies.

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As the Taper Begins, What’s Next for Asset Allocation? March 21, 2014

John P. Calamos, Sr. assesses the opportunities in the global markets and the implications of macro factors on asset allocation. He discusses the Calamos framework for asset allocation built around the use of core strategies.

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The Emerging Markets Growth Story: Evolving But Intact February 07, 2014

Co-Portfolio Manager Nick Niziolek discusses some of the misperceptions that may be influencing investor sentiment about the EMs, where the Calamos team is identifying long-term opportunities, and why he believes active management will be especially important in this environment.

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