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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…
2015 July Insight Report
STILL WAITING FOR SPRING SNAPBACK Economic Data Economic headlines in July were dominated by global risk hotspots (Greece, China) and falling commodity prices, but behind the headlines, U.S. economic data told a story of slow but steady economic improvement…
2015 2nd Quarter Fixed Income Comments
In the second quarter of 2015, the possibility of a June rate increase by the Federal Reserve came and went quietly, with markets unsurprised when rates remained the same. Speculation continues for the date of “liftoff” and there are plenty of arguments for and against rate increases. In the short term, it appears the Fed will raise rates 0.25%…