NEW YORK, July 11, 2018 – OppenheimerFunds, a leading global asset manager, released its 2018 Mid-year Outlook to help investors understand some of the most crucial factors that could impact global investing for the rest of the year. A digital interactive experience brings the firm’s asset allocation and regional views to life.

OppenheimerFunds’ Chief Investment Officer, Krishna Memani, addresses how:

  • Our aging business cycle continues, but the underlying narrative has shifted.
  • The Fed is in tightening mode. U.S. Congress and the Administration are dumping massive stimulus on the economy at a time when the unemployment and U.S. savings rates are low and inflation is slowly trending upward.
  • Thus far the extent of the “trade war” is not nearly as large as the fiscal stimulus being unleased in the U.S. and does not hit many products which are a large percentage of the traditional consumer basket. For now, investors will be best served as viewing tariffs as political.
  • We anticipate strong U.S. growth in the second half of the year, with a risk that this growth could drive the U.S. dollar higher and/or speed Fed tightening, either of which could hasten the cycle’s end. A more likely scenario: an environment not unlike the mid-2000s, characterized by decent U.S. growth, widening U.S. trade deficits, modest inflation, emerging market strength, and rising foreign reserves.
  • This base-case outlook favors equities, particularly emerging market and global cyclical stocks, and relative stability in credit, the U.S. dollar, and interest rates.

To download the 2018 Mid-year Outlook or to view the interactive experience visit: www.oppenheimerfunds.com/outlook

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About OppenheimerFunds

OppenheimerFunds, Inc., a leader in global asset management, is dedicated to providing solutions for its partners and end investors. OppenheimerFunds, including its subsidiaries, manages more than $246 billion in assets for over 13 million shareholder accounts, including subaccounts, as of June 29, 2018.

Founded in 1959, OppenheimerFunds is an asset manager with a history of providing innovative strategies to its investors. The firm’s 16 investment management teams specialize in equity, fixed income, alternative, multi-asset, and factor and revenueweighted-ETF strategies, including ESG as a signatory of the UN PRI. OppenheimerFunds and its subsidiaries offer a broad array of products and services to clients, who range from pensions and endowments to financial advisors and individual investors. OppenheimerFunds and certain of its subsidiaries provide advisory services to the Oppenheimer family of funds, and OFI Global Asset Management offers solutions to institutions. The firm is also active through its Philanthropy & Community initiative: 10,000 Kids by 2020, reaching children with introductions to math literacy programs.

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