Northern Trust's Nixon: Expect Volatility to Pick Up

The video discusses the current state of the stock market in relation to interest rates, noting that while the market seems expensive historically, it is appropriately priced given low interest rates. It highlights recent low volatility in the market, predicting an increase over the summer. The GDP data shows a slight revision, indicating a weak first quarter similar to last year, with expectations of continued tepid growth. Despite robust job growth, the economy remains in a trend channel with no clear catalyst for change. The consumer plays a significant role in GDP, but achieving the Fed's growth target remains challenging.

What factors contribute to the current pricing of the stock market according to the text?

How does the speaker describe the relationship between periods of low volatility and periods of high volatility?

What does the speaker suggest about the GDP data and its implications for future economic performance?

In what way does the speaker compare the current economic situation to the previous year?

What are the expectations for consumer behavior in relation to GDP growth as mentioned in the text?