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2016 Q1 Fixed Income Commentary
It seems that 2015 market volatility has followed us into the first quarter of 2016. On February 11th, the S&P 500 was down 10%, only to end the quarter up 1.3%. Few foreign equity markets made it into the black. China and Japan both ended the quarter in negative territory, down 17.2% and 12% respectively. US Economic…
2016 Q1 Equity Market Commentary
The first quarter of 2016 was a roller coaster ride. From the onset, the S&P 500 fell nearly 5% in the first week of trading and by the second week of February was down approximately 10%. A sharp rebound then took hold as the flu-like temperature of the global economy seemed to subside; oil prices…
2015 4th Quarter Fixed Income Comments
Finally, after a year of talking about it, the Federal Reserve raised rates by 0.25 percentage points, the first rate hike since 2006. The new range for the federal funds rate is 0.25% to 0.5%. The Fed unanimously agreed the economy was strong enough to warrant an increase: they noted as positives “ongoing job gains”…
2015 4th Quarter Equity Comments
The end of 2015 concluded a roller coaster of a ride for investors, as investors adjusted to an era of slower Gross Domestic Product (GDP) growth. In the U.S. following strong second and third quarters, 3.9% and 2.0% respectively, GDP growth slowed to just 0.7% in the fourth quarter…
Market Commentary
By any measure, the world’s stock markets have had one of the worst starts to a year in history. The markets are dealing with a slowing Chinese economy, geopolitical concerns in the Mideast, growing political and economic pressures in Europe and a downdraft in global commodity prices, especially energy…
2015 November Insight Report
NOVEMBER 2015 IN REVIEW ECONOMY: SHARP RISE IN JOB CREATION SURPRISES MARKET November economic data, which mostly capture economic activity from October, continue to signal slow but steady growth by the U.S. economy. With labor markets continuing to improve, wage growth strengthening, and household wealth growing, the U.S. consumer remains strong…
2015 3rd Quarter Equity Comments
Volatility is the name of the game in today’s financial markets as the gripping effects were felt by one and all. The third quarter started slowly with Greece’s “No” vote to the EU bailout, unsettling the broader markets. This doubt was quickly quelled weeks later as Greece blinked, stepping back from the ledge, yielding to…
2015 3rd Quarter Fixed Income Comments
Alas, another quarter came and went without action by the Federal Reserve. Unfortunately, the Fed’s lack of movement was overshadowed by the mid-quarter devaluation of the Chinese yuan. The biggest event of the third quarter, the devaluation and subsequent market crash heightened fears of the already opaque Chinese economy. It became clear that the country’s…
2015 October Insight Report
SEPTEMBER 2015 IN REVIEW ECONOMY: U. S. DATA MODERATE BUT REMAIN EXPANSIONARY Economic reports received in September, which are largely based on economic activity in August, reflected steady overall U.S. economic activity and a healthy consumer, but with moderating strength in the labor market and greater weakness in the manufacturing sector, as a strong…
Investment Note – “Not The Time To Panic”
In recent days we have seen the broader equity markets decline swiftly in reaction to several events that have taken place. We remain firm that long-term fundamentals remain positive and these market disruptions are not systemic of a broader global failure…