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Will the ‘Magnificent 7’ continue to Drive Markets Higher?
Posted by George Smith, CFA, CAIA, CIPM, Portfolio Strategist Friday, November 10, 2023 Additional content provided by Kent Cullinane, Analyst With earnings season winding down, having more than 450 of the 500 S&P constituents (or roughly 90%) reporting earnings by end of week, we take a look at the results thus far, while also highlighting the […]
November 10, 2023
Why the Bond Market Doesn’t Care About the Moody’s Downgrade… Yet.
Posted by Lawrence Gillum, CFA, Chief Fixed Income Strategist Tuesday, November 14, 2023 Late Friday afternoon, rating agency Moody’s announced that it had downgraded is credit rating outlook on U.S. government debt from stable to negative. Moody’s cited wide budget deficits and political polarization as reasons for the downgraded view. Further, Moody’s noted amid higher interest […]
November 14, 2023
Yields Plummeted on Benign Inflation Report
Posted by Jeffrey J. Roach, PhD, Chief Economist Wednesday, November 15, 2023 Key Takeaways: No Inflation in October The October Consumer Price Index (CPI) showed inflation was unchanged from the previous month, indicating markets may finally get a reprieve from the nagging pressures of inflation. In October, CPI increased by 3.2% from a year ago, a […]
November 15, 2023
Treasury Yields Tumble
Posted by Adam Turnquist, CMT, VP Chief Technical Strategist Thursday, November 16, 2023 Key Takeaways: This week’s cooling inflation data has supported the case for ending the Fed’s rate hiking campaign. October headline Consumer Price Index (CPI) decelerated from 3.7% to 3.2% annually, while core CPI—which excludes the often-volatile food and energy components—eased from 4.1% to […]
November 16, 2023
The S&P 500 Total Return Has All-time Highs in Sight
Posted by Jeffrey Buchbinder, CFA, Chief Equity Strategist Friday, November 17, 2023 Additional content provided by John Lohse, CFA, Analyst Following its post-summer malaise, the S&P 500 has sternly gained steam, bouncing 9.5% off the October 27 low. Fueled by a softening CPI print, surging performance from top-heavy constituents, and a favorable technical backdrop, the index […]
November 17, 2023
Five Things We’re Thankful For: Fixed Income Edition
Posted by Lawrence Gillum, CFA, Chief Fixed Income Strategist Tuesday, November 21, 2023 There’s no doubt the last few years have been challenging for fixed income investors. And while 2023 was supposed to be the year for bonds, fixed income returns for most core bond categories have only recently turned positive for the year. That said, […]
November 21, 2023
Melt Up in Gold
Posted by Adam Turnquist, CMT, VP Chief Technical Strategist Wednesday, November 22, 2023 Key Takeaways: Gold has regained its luster this month as the narrative surrounding monetary policy changed from tightening to potential rate cuts coming as early as next spring. Interest rates—including real yields— and the dollar all pulled back meaningfully. Ongoing geopolitical tensions in […]
November 22, 2023
Who is Going to Buy Bonds? Pension Funds
Posted by Lawrence Gillum, CFA, Chief Fixed Income Strategist Tuesday, November 28, 2023 November has been a good month for bond bulls with returns for most fixed income categories (so far) posting solid returns. However, despite the solid returns recently, fixed income volatility remains high and longer-term trailing returns are negative for many of the core […]
November 28, 2023
Consumers Getting A Mixed Bag
Posted by David Matzko Wednesday, November 29, 2023 Key Takeaways: Homebuilders Look for Opportunities One of the confounding experiences for consumers these days is within the housing market. Prospective buyers are reading the tale of two markets when it comes to residential real estate. After a volatile 2022, the pace of new home […]
November 29, 2023
December Seasonality: Is the Santa Claus Rally Still Coming to Town?
Posted by George Smith, CFA, CAIA, CIPM, Portfolio Strategist Thursday, November 30, 2023 November lived up to its reputation as a strong month for stock market seasonality with the November “Turkey Rally” delivering outsized returns for stocks. Now as we look ahead to December, investors are asking the question: Is the Santa Claus Rally still coming […]
December 1, 2023