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Key Takeaways & Insights

The momentum that led to surprisingly strong first-quarter growth appears to have carried over to second quarter. What could this mean for markets in May? Read our monthly outlook to find out.

Cerity Partners Monthly Outlook May 2019

Cerity Partners May 2019 Chartbook

  • The momentum that led to surprisingly strong first-quarter growth appears to have carried over to second quarter.
  • The dollar will likely trade in a tight range through the summer as the Fed assesses its response to the improved economic outlook.
  • With fewer concerns about a sharp upward spike in overall yields, municipal bonds are more attractive at the longer maturity end of the yield curve.

Meet the Author

Ben Pace

Partner & Chief Investment Officer

Ben is the Chief Investment Officer and a Partner in the New York office. He leads the firm’s Investment Committee and is a member of the Executive Committee. He has more than thirty-five years of experience in investment management. Ben has been featured in the Wall Street Journal and Reuters, and is a frequent commentator on Bloomberg TV and radio, Fox TV and CNBC, appearing regularly on network programs such as Power Lunch, The Closing Bell, Squawk Box, and Worldwide Exchange.

Prior to joining Cerity Partners, Ben was Chief Investment Officer and Head of Global Investment Solutions for Deutsche Bank Private Wealth Management in the U.S. In his role as CIO, he sat on the PWM Global Investment Committee, providing input on the U.S. economy and capital markets. He oversaw the investment strategy and asset allocation for PWM clients in the U.S. As Head of Global Investment Solutions, he brought together PWM’s capital markets and investment capabilities in an effort to provide an effective and consistent experience for clients. Prior to joining Deutsche Bank in 1994, he managed equity income funds for two investment organizations. During his tenure with those institutions, he also served as a securities analyst with a particular emphasis on the financial services and healthcare industries.

He earned his Bachelor of Arts in economics from Columbia University and Master of Business Administration in finance from New York University.

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