Weekly Commentary

Economically speaking, the first quarter of 2017 was simply uneventful.  First quarter 2017 GDP growth was nothing shy of anemic.  In fact, it seems to go hand in hand with the frail upward trend of economic recovery following the 2008 financial crisis. During the first quarter, the U.S. economy grew at a rate of 0.7%, […]

  On the back of the completed first round of the French election, markets both in the United States and abroad are having a great day.  Polling seems to show an improving lead for Emmanuel Macron over Marine Le Pen, which has certainly sparked another advantage for financials. [i] Major political news can always shift […]

It may come as a surprise to those who don’t follow the ups and downs of the stock market on a regular basis, but since the Federal Reserve raised the Federal funds rate three times since December 2015, long-term interest rates have dropped. That’s right – what was expected to be a catalyst for rising […]

  Simmering behind the political intrigue of our fiscal stimulus narrative, and the reassertion of the U.S. military presence in the world as a force for good, lays a hidden paradox: conflicting signals for market growth. According to Moody’s Analytics, the latest projections for U.S. GDP growth show that the U.S. will grow 2.2% for […]

  It’s official.  We have concluded the first trading day of the second quarter in 2017.  We would like to take this opportunity to present you with our Q2 2017 Look Ahead. For a PDF, click here. For our audio and video presentation, click here. Below, we’ve highlighted a number of key elements from our […]

  What makes 2017 such a challenging year for investing is the transition from a central-bank fueled economy to one that is propagated by a wide range of fiscal policy initiatives: •    Repealing and replacing Obamacare •    Individual and corporate tax reform •    Repatriating overseas corporate profits •    Approximately $1 trillion in infrastructure spending •    […]

  As we anticipated, last week the Fed announced another increase of 25 basis points to the Fed Funds Rate. [i] This comes as no surprise to many investors. Yet what may come as a surprise is that the banks sold off 1.26% following this announcement. [ii] The Fed announced that they are on track […]

  Based on Friday’s very strong jobs report, the economy looks poised to launch into a higher level of growth.  The Labor Department reported that the U.S. economy added 235,000 jobs during the month of February, which is consistent with the strong jobs report from January. [i] With the last two months of solid jobs […]

  When it comes to portfolio construction, allocations toward Emerging Markets (EMs) make up a meaningful part of most portfolios; this helps to diversify and drive total portfolio returns. It’s important for investors to gain a better understanding of the rationale and issues surrounding this particular asset class. When considering current valuations, it would appear […]

  Ninety-three consecutive days have passed without the S&P 500 experiencing more than a 1% decline during a trading session.i  In fact, general market volatility, as measured by the VIX, is at historically low levels unseen since 2006, and prior to that, 1995.ii   What’s driving volatility to these historically low levels and subsequently sending U.S. […]