Recent economic data has been better than expected, while a summer consolidation in the markets may be possible.
Client Letter | Fourth of July Optimism | June 30, 2020
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Research
The Future of Fixed Income | Weekly Market Commentary | June 29, 2020
Although the US economic recovery has picked up and we expect yields to rise in the second half of 2020, structural forces may help limit the size of the move.
5 Reasons We Favor US Stocks | Weekly Market Commentary | June 22, 2020
Among developed markets, we maintain our preference for US equities over international, but the bout of strong performance for the MSCI EAFE Index…
Potential Paths For Stocks In The Second Half | Weekly Market Commentary | June 15, 2020
Stock market valuations have gotten more expensive because earnings have fallen, which may bring volatility if the recovery disappoints.
Global Portfolio Strategy | June 9, 2020
Market pundits may have to revisit the popular “Sell in May” adage as stocks rose for the seventh May in the past eight years…
Prospects for a Swoosh-Shaped Recovery | Weekly Market Commentary | June 8, 2020
The US economy almost certainly entered a recession in March 2020 as a result of the lockdowns and business closures to contain the COVID-19 pandemic…
Client Letter | Looking Forward | June 4, 2020
As we look ahead to the summer months, we can’t help but think what a challenging year it’s been so far…
Stocks Rally and Roll | Weekly Market Commentary | June 1, 2020
The rally continued as the S&P 500 Index closed out May on the positive side. The disconnect between stocks and the economy generated widespread concern among some investors.
Earnings Season’s Mixed Results| Weekly Market Commentary | May 26, 2020
At the beginning of the first quarter corporate earnings reporting season, we noted the earnings bar probably wasn’t set low enough, given the abruptness of the shutdowns in March.
Client Letter | Better Times Are Coming | May 21, 2020
In spite of COVID-19 and weak economic data, the S & P 500 Index has rallied, and there are signs of improvement as the economy begins to reopen.