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Our Insight2019-03-03T16:57:01-05:00

Our Insight

& Strategic Views

2017 3rd Quarter Commentary

The third quarter was (again) characterized by the lowest stock market volatility in decades, coupled with an increasingly volatile bond market. Corporate earnings in the second quarter increased approximately 10% year-over-year, which reinforced the narrative that the economy continues its slow but improving growth trajectory. As expected, The Federal Reserve has laid out a plan to continue tightening monetary policy with both rate increases and balance sheet “normalization.” The net result is a … more >

March 4th, 2019|

2017 2nd Quarter Commentary

For the second quarter in a row, both stock and bond prices have risen simultaneously. Equity markets are signaling improving economic growth while fixed income markets apparently fear the opposite. The Federal Reserve held a steady course when it raised rates for a second time this year. On a political front, the situation remains fixed as Congress continues to work on a healthcare bill and tax reform. Corporate revenue and earnings growth were positive last … more >

March 4th, 2019|

2017 1st Quarter Commentary

The first quarter reflected the continued optimism that began last November with stocks showing solid gains and bonds stabilizing. There has been a surprising lack of volatility in stocks, as can be seen with the VIX index (which measures the volatility of the S&P500) trending at all time low levels. This indicates the positive view on stocks, and therefore the economy, that investors now seem to embrace. The Federal Reserve raised rates in March and … more >

March 4th, 2019|

2016 4th Quarter Commentary

In review, 2016 was quite a year to say the least. We started the year on a down note as global recession fears drove down stock prices. Stock prices turned around in February only to correct in the face of the Brexit vote in June (UK’s vote to leave the European Union). The unexpected result of the U.S. presidential election caused an overnight selloff in stocks but by the following morning stocks were positive and … more >

March 4th, 2019|

2016 3rd Quarter Commentary


Somewhat counterintuitively, the third quarter was characterized by the lowest volatility we’ve seen in a while.  Following the “Brexit” vote at the end of the second quarter, markets stabilized and continued to march higher. Second quarter earnings (reported during the third quarter) were mainly favorable which reinforced the narrative that the economy continues its slow growth trajectory.  The Federal Reserve met last month and decided to keep interest rates unchanged, citing that “the economy has … more >

October 15th, 2016|

2016 2nd Quarter Commentary

It seems every year at this time, Europe manages to spook the markets. A European recession, a threatened default by a Eurozone member (Greece) or (this time) an exit from the EU by a member nation, Britain (i.e. “Brexit”) have all come across the headlines.  Markets deplore uncertainty and this most recent drama has ratcheted up global economic apprehension and reduced global GDP expectations.  While there is plenty of uncertainty in the system, it is … more >

July 22nd, 2016|

2016 1st Quarter Commentary

The first quarter of 2016 was volatile – politically, economically and in the stock market.  The year began with fears of a U.S. recession linked to sagging oil prices and economic volatility in China which led to the worst start to a year for the S&P 500 on record.  Through the first 10 days of 2016 the market was down 7% and by February 11th the market was firmly in correction territory, down over 11% … more >

April 22nd, 2016|