ECONOMIC AND MARKET REVIEW JULY 2013
The second quarter of 2013 featured increased volatility, as U. S. equities withstood a June swoon to end higher once again, while foreign stocks gave up their gains to finish lower. Fixed income...
View ArticleECONOMIC AND MARKET REVIEW OCTOBER 2013
The volatility experienced by the financial markets during the spring continued in the third quarter, though equity returns were quite good. Fixed income returns were again negative, though the...
View ArticleECONOMIC AND MARKET REVIEW JANUARY 2014
As was the case throughout most of 2013, the fourth quarter featured a strong U.S. equity market and a slightly weaker fixed income market. Foreign stocks were mixed, with developed markets higher...
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ECONOMIC AND MARKET REVIEW APRIL 2014
“Equity valuations remain reasonable … monetary and economic fundamentals are still favorable to stocks .” Though U. S. equity markets ended the first quarter of 2014 little changed from year end...
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ECONOMIC AND MARKET REVIEW JUNE 2014
“Merger and acquisition activity picked up significantly, leading to a “buy on the dips” strategy by investors.” U. S. financial markets marched higher in the second quarter, with most equity indices...
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ECONOMIC AND MARKET REVIEW SEPTEMBER 2014
“Indeed, this latest correction may be the steepest in the last three years. We believe that this is only another short term pullback in a secular (longer term) bull market.” U.S. financial markets...
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ECONOMIC AND MARKET REVIEW JANUARY 2015
“While the storm clouds gather far across the sea, Let us swear allegiance to a land that’s free…” – from God Bless America, by Irving Berlin. The last quarter of 2014 featured continued volatility...
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ECONOMIC AND MARKET REVIEW APRIL 2015
The financial markets largely continued their upward path in the first three months of 2015, though the gains were very uneven. While U. S. equities posted more moderate returns than the past two...
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ECONOMIC AND MARKET REVIEW JULY 2015
“Interestingly, as the year has progressed, some signs of stability seem to be emerging among previously volatile asset classes.” Despite the volatility of global equity, fixed income, commodity and...
View ArticleECONOMIC AND FINANCIAL MARKET OUTLOOK, SPECIAL REPORT SEPT 2, 2015
A Bear Market Made in China? The current weakness in the U.S. equity markets is a correction within a longer term bull market, similar to what we experienced in 2011 and 1997. We do not believe it is...
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ECONOMIC AND MARKET REVIEW OCTOBER 2015
“I know you think you understand what you thought I said, but I’m not sure you realize that what you heard is not what I meant.” — Alan Greenspan In the third quarter, global financial assets endured...
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ECONOMIC AND MARKET REVIEW JANUARY 2016
“Now is the winter of our discontent, made glorious summer by this sun of York.” — From Richard III, by William Shakespeare Financial assets of all kinds had a difficult time in 2015. Little seemed...
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ECONOMIC AND MARKET REVIEW APRIL 2016
“The stock market has forecast nine out of the last five recessions. “ — Paul Samuelson Global equity markets opened 2016 with one of the worst starts on record, before rallying sharply in the last...
View ArticleECONOMIC AND FINANCIAL MARKET OUTLOOK, SPECIAL REPORT JUNE 24, 2016
Brexit Late yesterday, the United Kingdom voted to leave the European Union. Global financial markets had rallied earlier in the week on hopes that the British would vote “Remain” and thus provide more...
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ECONOMIC AND MARKET REVIEW JULY 2016
“History has demonstrated time and again the inherent resilience and recuperative powers of the American economy.” — Ben Bernanke Second Quarter Highlights The U. S. equity market rose during...
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ECONOMIC AND MARKET REVIEW OCTOBER 2016
Third quarter highlights The U.S. stock market once again embarked on a gradual upward climb in the third quarter, despite widespread skepticism by the investing public. Though economic reports...
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ECONOMIC AND MARKET REVIEW JANUARY 2017
“The World Turned Upside Down” – Tune played by the British army band at the Yorktown surrender ending the Revolutionary War, 1781 Fourth Quarter Highlights 2016 ended as it had started – totally...
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ECONOMIC AND MARKET REVIEW APRIL 2017
“Successful investing is about having people agree with you…later.” — James Grant First Quarter Highlights Most financial markets rallied in the first three months of 2017. Equities continued...
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ECONOMIC AND MARKET REVIEW JULY 2017
“There are two times in a man’s life when he should not speculate: when he can’t afford it and when he can.” — Mark Twain Second Quarter Highlights During the spring, both the economy and the...
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ECONOMIC AND MARKET REVIEW OCTOBER 2017
“Time in the market is more important than timing the market.” — Unknown Third Quarter Recap The summer of 2017 proved to be a good one for financial markets, especially for equities. In spite of...
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