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Topic 1 – Capital Market Expectations
Reading 1 – Framework and Macro Considerations
LOS : Discuss the role of, and a framework for, capital market expectations in the portfolio management process.
LOS : Discuss challenges in developing capital market forecasts.
LOS : Explain how exogenous shocks may affect economic growth trends.
LOS : Discuss the application of economic growth trend analysis to the formulation of capital market expectations.
LOS : Compare major approaches to economic forecasting.
LOS : Discuss how business cycles affect short- and long-term expectations.
LOS : Explain the relationship of inflation to the business cycle and the implications of inflation for cash, bonds, equity, and real estate returns.
LOS : Discuss the effects of monetary and fiscal policy on business cycles.
LOS : Interpret the shape of the yield curve as an economic predictor and discuss the relationship between the yield curve and fiscal and monetary policy.
LOS : Identify and interpret macroeconomic, interest rate, and exchange rate linkages between economies.