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S&P 500—Going for it on Fourth Down Again?
Posted by Adam Turnquist, CMT, VP Chief Technical Strategist Friday, January 20, 2023 The S&P 500 kicked off 2023 with a solid start, moving the year-to-date return chains to over 4% last week before giving up some yardage over the previous few sessions (the index is still up 1.6% as of January 19). Oversold conditions, China’s […]
January 20, 2023
Can a Technical Headwind Turn Into a Tailwind? We Think So.
Posted by Lawrence Gillum, CFA, Fixed Income Strategist Wednesday, January 25, 2023 To say that last year was a bad year for fixed income investors would be a huge understatement. With the Federal Reserve (Fed) embarking on the most aggressive rate hiking campaign since the 1980s, most fixed-rate coupon bond markets delivered the worst returns many […]
January 25, 2023
Solid End to 2022, but Risks to U.S. Economy Rising
Posted by Jeffrey Buchbinder, CFA, Chief Equity Strategist Thursday, January 26, 2023 Solid Quarter to End 2022 but Tougher Sledding in Q1 The U.S. economy grew at a 2.9% annualized rate in the fourth quarter, slightly better than economists’ forecasts and driven by inventories, trade, and government spending. The solid overall growth follows the 3.2% annualized […]
January 26, 2023
Are Yields Pointing to a Change in Monetary Policy?
Posted by Adam Turnquist, CMT, VP Chief Technical Strategist Friday, January 27, 2023 The spotlight will shift from earnings to the Federal Reserve (Fed) next week as they wrap up their 2-day monetary policy meeting on Wednesday, February 1. Market expectations are set for an increase of 25 basis points (bps) in the fed funds rate, […]
January 27, 2023
Markets Off to a Strong Start in 2023, but Can It Continue?
Posted by Barry Gilbert, PhD, CFA, Asset Allocation Strategist Thursday, February 2, 2023 The first month of 2023 is now behind us and it felt very different than 2022. In 2022, the S&P 500 and the Bloomberg U.S. Aggregate Bond Index (“Agg”) both fell and there was much talk of the demise of the “60/40” portfolio […]
February 2, 2023
A Short and Shallow Recession: How It Could Play Out
Posted by Jeffrey J. Roach, PhD, Chief Economist Tuesday, February 7, 2023 Recession Lengths Vary Widely Recessions occur when the economy has reached a peak in economic activity and it is heading toward the subsequent trough. The economy is back in expansion mode after the trough. Although it sounds obvious, investors should remember the economy is […]
February 7, 2023
Are Bears Finally Going Into Hibernation?
Posted by Adam Turnquist, CMT, VP Chief Technical Strategist Friday, February 10, 2023 Negative sentiment has been an ongoing theme throughout this bear market. Continuous monetary tightening, surging interest rates and inflation, and slowing growth have been a few catalysts behind the widespread pessimism. However, with stocks staging an impressive comeback since the start of the […]
February 10, 2023
An Uneven Path to Two Percent
Posted by Jeffrey J. Roach, PhD, Chief Economist Tuesday, February 14, 2023 The Uneven Path For most categories, inflation is decidedly past peak. But as we see from today’s report, the pathway back down to the Federal Reserve’s (Fed) target of 2%, will be choppy. In January, the U.S. Consumer Price Index (CPI) rose 0.5% from […]
February 14, 2023
Is Cash Worth the (Reinvestment) Risk
Posted by Lawrence Gillum, CFA, Fixed Income Strategist Wednesday, February 15, 2023 Economists like to remind us there is no such thing as a free lunch. In investment parlance, that just means all investments carry risk—even cash. After last year’s aggressive rate hiking campaign from the Federal Reserve (Fed), short-term interest rates are at levels last […]
February 15, 2023
Debt Ceiling Standoff Back in Focus
Posted by George Smith, CFA, CAIA, CIPM, Portfolio Strategist Thursday, February 16, 2023 The debt limit—commonly called the debt ceiling—is the maximum amount of debt the Treasury Department is authorized to borrow to pay its already committed financial obligations. The amount is set through Congress and has been increased 78 times since 1960. Last raised by […]
February 16, 2023