Diamond Professor of Finance Featured on Tucson’s CBS Station about Current State of Stock Market
Aug. 28, 2020
Christopher Lamoureux, Diamond Professor of Finance at the University of Arizona Eller College of Management, was featured in an August 27 news segment on KOLD, Tucson’s CBS affiliate, about the stock market.
The segment mentions that while the stock market index is at a record high, it is conflicting with the U.S. and global economies that have been impacted by the effects of the COVID-19 pandemic.
In response to the COVID-19 pandemic, Lamoureux says: “The world’s central banks have lowered short-term rates and long-term demographic factors have resulted in a large pool of savings capital.”
The segment covered the fact that stock prices seem positive, that the COVID-19 pandemic has not negatively affected infrastructure—despite other effects it has had on lives and uncertainty that has been created—and that consumer spending in the U.S. has not declined.
“The bottom line is that there are not a lot of good options for savers right now,” says Lamoureux. “The 30-year U.S. Treasury bond yield is 1.37 percent, and U.S. equities benefit from the lack of alternatives. It is also a time of heightened risk.”
Christopher Lamoureux joined the Eller College of Management in 1994. He was appointed the Diamond Professor of Finance in 2005. Previously, he taught at Washington University and Louisiana State University. He earned his PhD in Finance from Syracuse University in 1985. His area of expertise is in the analysis of financial markets.