The Mood of the Market Is Fading Optimism
By Lori Calvasina
Published July 7, 2021 | 6 min listen
This week in the podcast, we run through the results of our 2Q21 US equity investor survey, conducted June 22nd – 29th. The respondents were mostly US focused and based portfolio managers. All were institutional investors. The big things you need to know: Overall, US equity investors remained optimistic, though optimism did fade a bit relative to our late March survey. Cash deployment and economic outlooks are strong, though valuations, margins, inflation, COVID variants, the Fed, and Washington policy are all weighing on sentiment. Interest in reflation trades is also fading.
Lori Calvasina
Managing Director & Head of U.S. Equity Strategy, RBC Capital Markets
Lori Calvasina joined RBC Capital Markets as Head of U.S. Equity Strategy in 2017 as a Managing Director. Having spent nearly two decades as an equity strategist at major investment banks, Lori is an expert on the US stock market, and regularly represents RBC in the financial media on Bloomberg and CNBC. Prior to joining RBC, Lori was a senior equity strategist at Credit Suisse from 2010 to 2017, covering Small/Mid Cap Strategy from 2010-2014 and both Small/Mid Cap and US Equity Strategy from 2015-2017. She spent the first ten years of her career at Citi in a variety of roles including lead Small/Mid Cap Strategist from 2007-2010. In both 2008 and 2009 Lori was ranked #2 in the Small Companies category in the Institutional Investor All America Research team poll. Lori is a graduate of the University of Virginia and its selective Government & Foreign Affairs’ Honors Program. In 2019, she was named to Crains New York’s list of Notable Women in Finance.
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