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Portfolio Compass | April 18, 2019

COMPASS CHANGES Lowered Stocks view from Neutral/Positive to Neutral Lowered U.S. Equities view from Neutral/Positive to Neutral Raised Bonds view from Negative/Neutral to Neutral INVESTMENT TAKEAWAYS With the S&P 500 Index nearing our year-end fair value target...

Market Insight Quarterly | First Quarter 2019

STOCKS REBOUND AMID MIXED ECONOMIC SIGNALS U.S. economy sent mixed signals amid uncertainty.Fourth quarter gross domestic product (GDP) rose 2.2% from the prior quarter on an annualized basis,below the initial 2.6% reading reported on February 28.GDP grew 2.9% overall...

Too High or Too Low? | Weekly Economic Commentary | April 15, 2019

KEY TAKEAWAYS Signs of slowing global growth have fueled worries of tepid domestic inflation. Consumer price growth has softened, but producer price and wage growth remain solid. We expect consumer price inflation to pick up as global headwinds subside. Click here to...

What’s Priced In | Weekly Market Commentary | April 15, 2019

KEY TAKEAWAYS We look at what’s priced into stocks following year-to-date strength to help gauge potential impact of surprises and disappointments. When we look at what’s not priced in, we see several possible surprises that could propel the stock market to new highs....

Market Insight Monthly | March 2019

ECONOMY MIXED ECONOMIC SIGNALS CONTINUE IN MARCH U.S. economic data were mixed in March, although leading indicators signaled low odds of a recession in the coming year [Figure 1]. The Conference Board’s Leading Economic Index, an aggregate of ten leading indicators,...

Signals We See in Q1 2019 Results | Client Letter | April 4, 2019

April brings showers, baseball, and historically, the best month of the year for the S&P 500 Index (for the last 20 years). On top of that, the S&P 500 had its best first quarter since 1998, and in March we celebrated the 10-year anniversary of the current...