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Main Takeaways from the Report on Business
Posted by Jeffrey J. Roach, PhD, Chief Economist Tuesday, April 4, 2023 Overview All Components Below 50—A First Since 2009 The manufacturing business report reveals the weakness within the manufacturing sector as the economy reacts to high inflation, tighter financial conditions, and uncertainty within the banking sector. For the first time since 2009, all components of […]
April 4, 2023
First Quarter Market Observations
Posted by Jeffrey Buchbinder, CFA, Chief Equity Strategist Wednesday, April 5, 2023 An eventful first quarter wrapped up last week. In today’s blog, we make seven market observations from first quarter performance and share our thoughts on what these performance trends could mean for our outlook. Growth soundly beat value on technology’s strength, with an additional […]
April 5, 2023
The 60/40 Is Back…Perhaps Even Long Term
Posted by Barry Gilbert, PhD, CFA, Asset Allocation Strategist Monday, April 10, 2023 There deservedly was a lot of hand-wringing about the death of the 60/40 portfolio in 2022, a portfolio of 60% stocks and 40% bonds. As we stated back in June, the call for the demise of the 60/40 had likely come too late. Even […]
April 10, 2023
Bond Markets Still Believe in the Fed
Posted by Lawrence Gillum, CFA, Fixed Income Strategist Tuesday, April 11, 2023 The Federal Reserve (Fed) has raised short-term interest rates at the most aggressive pace since the 1980s in an effort to bring down the highest inflationary pressures in more than 40 years. Certainly, the main motivation behind these aggressive rate hikes is to realign […]
April 11, 2023
Bull market or not, the rebound off the October 2022 lows has been lackluster
Posted by Jeffrey Buchbinder, CFA, Chief Equity Strategist Wednesday, April 12, 2023 Today marks the six-month anniversary from the October 12, 2022 low in the S&P 500. Since the 25.4% drop in the index from January 3, 2022 through that day in October (is it me or do bear markets often end in October), the S&P […]
April 12, 2023
6 Things to Know About Stocks and Recessions
Posted by Barry Gilbert, PhD, CFA, Asset Allocation Strategist Thursday, April 13, 2023 Yesterday, the Federal Reserve (Fed) released the minutes from its March 21-22 Federal Open Market Committee (FOMC) meeting. In the section summarizing staff projections, to the surprise of some, the staff explicitly forecasted a recession: “Given their assessment of the potential economic effects […]
April 13, 2023
Coming in Hot
Posted by Adam Turnquist, CMT, VP Chief Technical Strategist Friday, April 14, 2023 Key Takeaways: Earnings season officially kicked off today with the major money center banks reporting first quarter (Q1) results. Expectations into the quarter are running low as S&P 500 earnings per share (EPS) estimates are at -6.8%, according to FactSet. This marks a […]
An Economy with a Backache
Posted by Jeffrey J. Roach, PhD, Chief Economist Tuesday, April 18, 2023 Overview The Backbone of the Economy Small businesses are often considered the backbone of the economy because of the amount of economic activity generated by the sector, and it looks like a backache has emerged. Small businesses have an incredible impact on both the […]
April 18, 2023
The Treasury Market is Starting to Show Signs of Worry Over Debt Ceiling
Posted by Lawrence Gillum, CFA, Chief Fixed Income Strategist Wednesday, April 19, 2023 With tax season (mostly) behind us, the U.S. Treasury Department will have a better sense of how much cash it has on hand and when it will run through the extraordinary measures it is currently employing to pay its bills. The Treasury is […]
April 19, 2023