September 7, 2022
Market Performance (YTD) Source: YCharts Disclaimer: Past performance is no guarantee of future performance The 60/40 portfolio is running a 14% loss YTD. One of the main goals of adding bonds to a portfolio is to reduce the risk of major drawdowns in equities. The 60/40 has prevented deeper losses from equities alone, but it's... Read More →
August 31, 2022
Market Performance (YTD) Source: YCharts Disclaimer: Past performance is no guarantee of future performance The Bloomberg Global Aggregate Index has lost 19.3% since its record high in January 2021, & is now less than a percentage point away from the first bond bear market in a generation. via @theterminal's Garfield Reynolds & Finbarr Flynn. pic.twitter.com/RvTGldcaZ6... Read More →
August 24, 2022
Market Performance (YTD) Source: YCharts Holy hell. Priced in dollars per barrel of oil equivalent, German electricity is OVER $1,000/ BARREL! A madness we're struggling to comprehend. pic.twitter.com/CiIs9LHvZ1 — Dani Burger (@daniburgz) August 23, 2022 Euro-Zone Activity Shrinks for Second Month on Price Squeeze "Euro-area economic activity declined for 2nd month, signaling that fears of... Read More →
August 17, 2022
Market Performance (YTD) Source: YCharts 91% of S&P 500 companies have now report Q2 earnings. Takeaways: -> 5 out of 11 sectors had negative EPS growth-> Overall earnings growth +6.5%, but outsized driver was energy +297%-> Earnings estimates for '22 & '23 were trimmed Earnings engine stalling #latecycle @Factset pic.twitter.com/Ky1RCu6k5w — Matthew Miskin, CFA (@matthew_miskin)... Read More →
August 10, 2022
Market Performance (YTD) Source: YCharts Jul headline CPI 8.5%, below est of 8.7%. Core CPI 5.9%, below est of 6.1%. It's notable that Core Services decelerated to 0.2%, the lowest since Dec 2021. A small battle won, market clearly celebrating. pic.twitter.com/NMWxixLkT1 — Liz Young (@LizYoungStrat) August 10, 2022 What drove the CPI YoY% Change: {ECAN} pic.twitter.com/VwI0RUXomx... Read More →
June 8, 2022
Market Performance (YTD) Source: YCharts Disclaimer: Past performance is no guarantee of future performance The peak inflation argument is peaking up steam Supply chains are still troubled but showing signs of easing Supply chain bottlenecks improved in April yet remained significantly underwater, the RSM US Supply Chain Index shows. Learn more from RSM U.S. economist... Read More →
April 20, 2022
Market Performance (YTD) Source: YCharts Disclaimer: Past performance is no guarantee of future performance What Optimists Might Point To Despite the increasingly pessimistic outlook by economists, analysts’ outlook for earnings per share growth for 2022 continues to improve for most countries. pic.twitter.com/Q4b7C3CxUO — Jeffrey Kleintop (@JeffreyKleintop) April 19, 2022 Earnings are expected to increase about... Read More →
Market Commentary
Q1 2022
Despite Uncertainties, We Expect Continued Economic Growth We believe economic growth will continue through the remainder of the year, albeit at a moderating pace. Consumer demand still has strong support from wage growth, continued reopening, and pent-up savings from stimulus. It is estimated that 60% of households continue to hold excess savings built up during... Read More →
March 29, 2022
Market Performance (YTD) Source: YCharts Disclaimer: Past performance is no guarantee of future performance Here’s what pessimists might point to covid is spreading everywhere in china.. get ready for a new wave of rising prices pic.twitter.com/HyLJTpf5Zi — 🅰🅻🅴🆂🆂🅸🅾 (@AlessioUrban) March 29, 2022 4th largest spike in #financial #stress in the last 20-years according to BofA.... Read More →
March 16, 2022
Market Performance (YTD) Source: YCharts Disclaimer: Past performance is no guarantee of future performance Things are happening quickly Nasdaq 100 closes in bear market for 1st time since Mar2020. Index, which is home to Big Tech like Apple, Amazon & Microsoft, has dropped 21% from its Nov19 closing record, enough to count as an official bear market. Russia invasion stokes... Read More →