Weekly Commentary

  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. […]

  Normally, I wouldn’t choose to write about politics, considering our clients span a wide range of viewpoints. However, that’s also what makes our business so engaging and rewarding. But, as we shift the narrative from a monetarily controlled world (interest rates and central banks), to one that is potentially dictated by fiscal policy (taxes, […]

    Frequently, I have written about the end of one narrative and the start of another being a driving catalyst for the markets:  Monetary Policy giving way to Fiscal Policy.  Let’s compare that changing narrative against what appears to be a resurgence in the popular coined Keynesian term, ‘animal spirits.’ To start, let’s talk […]

  Last Friday’s strong jobs report, as well as several solid earnings announcements, led to the best trading day of 2017.  Given the action in the markets since the election this past November, one must question, “How overvalued can this market get before we see a repricing of risk?”  Before I attempt to answer that […]

There are certainly multiple ways to look at the impacts of a potential trade war between the U.S. and Mexico.  Depending on what political affiliation you fall under, your humanitarian beliefs, whether you’re a CEO or an employee of a multinational corporation, or the owner or employee of a small business, everyone will have different […]

  “Get your facts first, and then you can distort them as much as you please.” – A visionary quote by Mark Twain. With the election of a new President and the media’s prediction for the demise of world order, I think it’s important to keep your eyes on the facts that matter to investors […]