Investment Insights

Monthly Markets Memo - September 2018

World Money Small.jpgby Dan Zalipski, CFA 

U.S. Equities are putting on a one-man show posting positive returns over the past month.  Various economic indicators point to continued strength in the U.S. Economy.  Manufacturing activity is at a 14-year high, consumer confidence is at an 18-year high, and small and medium-sized business sentiment is at a 35-year high.  Developed international markets continue to languish but were mostly unchanged from a month ago. The U.K. continues to negotiate their exit from the European Union driving some uncertainty within the region.  Broader Europe appears to be coming out of an economic soft-patch that weighed down the first half of the year.  Turning to fixed income, yields on treasuries had been held down by investors seeking safety from developments in the emerging markets.  This reversed itself when the August jobs report revealed robust wage growth, sending treasury yields higher from 2.88% towards the 3.00% mark.

Market Minute - September 12, 2018

by Scott Rosenquist, CFA

Valuation Check-In

The U.S. equity markets are now trading near record highs surpassing the levels seen back in January.  The Dow Jones Industrial Average has yet to reach new highs, but the S&P 500, Russell 2000, and the Nasdaq all continue to trade at record levels.  The sell-off experienced in late January seems long ago and many investors may be wondering where the market stands now in terms of valuation. 

Monthly Markets Memo - August 2018

World Money Small.jpgby Dan Zalipski, CFA & Scott Rosenquist, CFA

Market Update

The markets seem to be playing a game of tug-of-war, or should I say “tug-of-trade-war”?  On one end of the rope you have a solid U.S. economy backed up by strong corporate earnings growth.  On the other end you have an ongoing trade war, rising interest rates, and an economic crisis unfolding in Turkey.  The U.S. markets have pushed higher throughout the quarter, with the S&P 500 near its January high.  The international markets continue to struggle as they cope with the UK’s ongoing Brexit negotiations, trade tensions with the U.S., and a strengthening dollar that dampens international returns. 

Market Minute - August 14, 2018

by Scott Rosenquist, CFA

Yield Curve Implications

The yield curve is a widely followed measure of the bond market that shows the yields available for bonds of the same credit quality and varying maturity dates.  The most common is the U.S. Treasury yield curve, a favorite among investors who monitor it for clues on the direction of the economy. 

Monthly Markets Memo - July 2018

World Money Small.jpgby Dan Zalipski, CFA & Scott Rosenquist, CFA

Market Update

The U.S. equity markets moved higher over the past month.  They found support in economic reports on expanding manufacturing and service sector activity, strong retail sales, and a positive employment report.  Fixed income trimmed their year-to-date losses as investors sought out safety from trade related headline risk.  International markets continue to struggle this year as trade-related concerns and a stronger dollar continue to weigh on the space.  The trade issue has also spilled over in to commodities, which have suffered a recent price collapse as fears of a global slowdown continue to build.  

Monthly Markets Memo - July 2018

World Money Small.jpgby Dan Zalipski, CFA & Scott Rosenquist, CFA

Market Update

The U.S. equity markets moved higher over the past month.  They found support in economic reports on expanding manufacturing and service sector activity, strong retail sales, and a positive employment report.  Fixed income trimmed their year-to-date losses as investors sought out safety from trade related headline risk.  International markets continue to struggle this year as trade-related concerns and a stronger dollar continue to weigh on the space.  The trade issue has also spilled over in to commodities, which have suffered a recent price collapse as fears of a global slowdown continue to build.  

Market Minute - July 17, 2018

by Scott Rosenquist, CFA

2018 FIRST HALF RECAP

The first half of 2018 is behind us and it already has been a busy year in the financial markets both domestically and internationally. 

Monthly Markets Memo - June 2018

World Money Small.jpgby Dan Zalipski, CFA & Scott Rosenquist, CFA

Market Update

Investors over the past month have done their best to sort through the headlines and their potential impacts on the markets.  The North Korean summit was cancelled, and then happened.  Trade ‘wars’ were called off only to be back on days later.  Italy flirted with crisis when two populist parties struggled to form a coalition government.  With all this commotion, the U.S. markets moved higher over the past month on the back of favorable economic data and solid corporate earnings. 

Market Minute - June 12, 2018

by Scott Rosenquist, CFA

RECESSION LOOMING?

The current U.S. economic expansion that started in the middle of 2009 is now the second longest on record.  Such a prolonged expansion may leave some investors asking, “When will it end?”. 

Monthly Markets Memo - May 2018

World Money Small.jpgby Dan Zalipski, CFA & Scott Rosenquist, CFA

Market Update

The equity markets continue to be volatile.  Both the U.S. and international developed markets have had substantial moves this year yet remain relatively close to where they started.  Looking only at 2018, the S&P 500 was up nearly 7% at one point in January, only to find itself down 4% in early February.  It recovered to positive 4% in early March, only to find itself down 4% by the end of March.  At the time of this writing, the S&P 500 has had 32 trading days with moves of 1% or more in 2018 according to DataTrek’s Nicolas Colas.  An average year will see around 50 days with 1% moves in either direction, and with the historically volatile months of August and October still to come, it’s likely we will exceed that mark.

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