Americans increasingly dipped into their savings during the third quarter. The personal saving rate dropped to 3.8% in the third quarter from 5.2% in the second quarter. Consumer spending rose 4%, powered in large part by discretionary purchases on things like vacation,… More >>
Typically, under ordinary circumstances, bond investors expect to get paid more for holding a long-term bond than a short-term bond, as more uncertainty in the future deserves to be compensated. This is what a normal yield curve looks like. 1
Over the last 15 months the… More >>
Are we at the doorstep of a disinflation or deflationary period? The latest report on core Consumer Price Inflation (CPI) would suggest not. Excluding food and energy, prices rose 4.1% year-over-year in September. 1
Further, core services prices, excluding housing,… More >>
Phillips & Company is privileged to service thousands of investors, from foundations and family offices to CEOs and those trying to save for retirement. We also get to interview capital allocators and asset managers around the world. This combination gives us what I… More >>
Equity markets declined in the third quarter after the strong market rally seen in the first half of the year. 1
Take a look at how we see the coming quarter by clicking on this link to our Q4 2023 Look Ahead.
After a prolonged period of rate increases, the U.S.… More >>