As countries emerge from the pandemic, some worse for wear, there is one indicator that has turned surprisingly robust. The U.S. personal saving rate recently hit its highest level in decades and remains elevated. As the economy reopens, this savings potentially could be drawn down to a more “normal” level, unleashing tremendous consumer spending power.
Groupthink is bad, especially at investment management firms. Brandywine Global therefore takes special care to ensure our corporate culture and investment processes support the articulation of diverse viewpoints. This blog is no different. The opinions expressed by our bloggers may sometimes challenge active positioning within one or more of our strategies. Each blogger represents one market view amongst many expressed at Brandywine Global. Although individual opinions will differ, our investment process and macro outlook will remain driven by a team approach.