The US continues to lead the global equity market race
When it comes to the global equity market race, well, it hasn’t been much of a race. With US equities – as measured by the S&P 500 Index (S&P 500) – up 254% over the past 10 years and 18% in 2019 vs. developed international…
Was that big market drop really so big? Why context is key.
Context is key to analyzing and understanding the economy and markets and making informed decisions that lead to successful investment outcomes. Nowhere is context more important than near-term stock market moves, particularly when it comes to the Dow Jones Industrial Average (the Dow). To that…
Don’t get down if the markets aren’t dancing in September
It’s been a positive – if somewhat bumpy – year for US equities, with the S&P 500 Index (S&P 500) up about 17% in 2019, despite pullbacks of about 7% in May and August. The robust performance of the US stock market isn’t surprising given…
One thing we are NOT worried about today
There are many issues that have investors concerned as we are set to say goodbye to summer, including a flat to partially inverted yield curve, deteriorating US/ China relations, and a slowdown in manufacturing activity in the US and around the world. As we previously…
It feels like Groundhog Day… Bill Murray, trade, tariffs, and the markets
In the film Groundhog Day, Bill Murray plays TV weatherman Phil Connors who, against his wishes, is sent to report on the annual Groundhog Day event in Punxsutawney, Pennsylvania and, while there, relives Groundhog Day again, and again and again with an eye toward his…
Bizarro bonds – guaranteed to lose you money, and not just in a comic strip
Fans of Superman – or Seinfeld – may be familiar with Bizarro World, a cubed planet far out in space that is inhabited by imperfect duplicates of Superman, Lois Lane, and their friends. In a nutshell, on Bizarro – relative to earth – up is…
What did the Fed just do? Why? What comes next?
Last week, the Federal Open Market Committee, the monetary policymaking body of the US Federal Reserve (Fed), met and announced it was lowering the Federal Funds rate by 25 bps (the first interest rate cut in more than 10 years) to a range of 2.0%…
“And it’s too late, baby now, it’s too late” (Or is it?)
Carole King may have been lamenting the inevitable end of a long-lived relationship in her classic ballad “It’s too late,” but for worried investors she could have easily been singing about how US monetary and trade policy have conspired to bring an end to the…
Why we’re not worried about the deficit and debt!
It’s coincidental Ross Perot passed away at a time when many members of our political and economic classes are increasingly concerned about our nation’s deficit and debt, and how both could be meaningful headwinds for the economy and risk assets going forward. While not dismissive…
Vlog: Quarter-end Q&A 2Q2019
Tim Holland, CFA, asks and answers those questions we think will be top of mind for clients as they open their quarterly statements and think back on the quarter that was: How low can yields go? Why have foreign markets lagged the US? What impact…