Persistent, Pesky Problems Facing Pensions

Persistent, Pesky Problems Facing Pensions

Equity markets sold off on Friday, but were mixed for the week. The S&P 500 closed out the week slightly higher, returning a positive .45 percent for the week. The Dow Jones Industrial Index ended the week about -.30 percent lower, with energy leading decliners. The Nasdaq returned a strong 1 percent for the week.

Kinateder Hired as Executive Vice President

PORTLAND, Ore. – July 1, 2017 – Ferguson Wellman is pleased to announce that Tara Kinateder has joined the firm as executive vice president and a member of the firm’s wealth management committee.

With more than 15 years of experience in the financial industry, Kinateder came to Ferguson Wellman after working at U.S. Trust as a private client advisor and market leader. Before her career at U.S. Trust, she worked for Bernstein Wealth Management as a financial advisor and Paychex MMS as a strategic consultant. Kinateder specializes in business succession and pre-transaction planning, asset management and asset allocation planning, retirement planning and advising women in transition on strategies to help them protect their wealth.

Raised in Georgia, Kinateder earned her B.A. from Brenau University in Gainesville, Georgia, with a double major in journalism and business, graduating Magna Cum Laude. She received a certificate in personal financial planning from the University of Washington’s Michael G. Foster School of Business and a certificate in investment strategies and portfolio management from the University of Pennsylvania’s Wharton School of Business. Kinateder serves as chair of the Classic Wines Auction board and has been a board member since 2014. She is also current chair of the annual Wine Auction. Kinateder chairs the Arlington Club entertainment committee and is a member of the house committee. 

“We are extraordinarily pleased to add Tara to our team of investment professionals. Her expertise in all aspects of wealth management allows her to become a value-add to our clients immediately. She has a shared vision with us for serving clients and growing our firm. We are delighted to have her,” said Jim Rudd, principal and chief executive officer.

Founded in 1975, Ferguson Wellman Capital Management is a privately owned registered investment advisory firm, established in the Pacific Northwest. As of January 1, 2017, the firm manages over $4.5 billion for more than 760 clients that include individuals and families; Taft-Hartley and corporate retirement plans; and endowments and foundations with portfolios of $3 million or more. West Bearing Investments, a division of Ferguson Wellman, serves clients with assets starting at $750,000. (Data as of January 2017).

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Last Mile Home

Last Mile Home

Led by a 3.8 percent gain in emerging markets, global equities sustained their upward march this week. The S&P 500 returned 1.4 percent and again flirts with an all-time high. 10-year U.S. Treasury yields fell seven basis points as soft inflation data weighed on expectations for future interest rate hikes. The Fed continues to grapple with conflicting signals in an attempt to balance the dual mandate of maximizing employment and stabilizing prices.

Paradoxical

Paradoxical

Despite improving economic data, the S&P 500 finished the week flat. Solid global PMI’s continue to move interest rates higher around the world. 10-year yields in Germany hit an 18-month high, and the 10-year U.S. Treasury finished the week at 2.39 percent. Just 11 days ago the benchmark U.S. rate was at 2.13 percent.

2017 Market Letter Q3

2017 Market Letter Q3

2017 Market Letter Q3

Can You Hear Me Now?

Can You Hear Me Now?

For the shortened holiday week, equity markets were down by almost 1 percent as investors followed events in Russia and North Korea. Interest rates were lower with the 10-year Treasury declining in yield from 2.36 to 2.22 percent.

The Deal of the Year

The Deal of the Year

As investors, the best thing about earnings season is it filters a lot of the other noise out of the market. A month ago, a tweet, tariff headlines or even a longshot tax proposal would have moved the equity markets.

Move Over Wonder Woman; Yellen Speaks

Move Over Wonder Woman; Yellen Speaks

The broad markets performed as expected this week as the Federal Reserve announced its much expected rate hike Wednesday. The Dow Jones Industrial Average did set a new high after the announcement but finishes the week up only 0.4 percent.

Debt Ceiling, Tax Policy and Trickle-Down Economics

Debt Ceiling, Tax Policy and Trickle-Down Economics

Global elections continue to stir up markets this week. U.S. stocks and the dollar rose as the British pound declined after the U.K.’s Conservative Party lost its parliamentary majority just as the Brexit negotiations begin

Changing of the Guard

Changing of the Guard

The S&P 500 was up nearly 1 percent again this week as economic data continues to confirm a growing economy. An underwhelming jobs report on Friday took yields on 10-year U.S. Treasuries to a new low on the year of 2.15 percent.

Winners and Losers

Winners and Losers

Buoyed by the best quarterly earnings growth in six years, blue chip equities are forging new highs, with investors disregarding the turmoil in Washington and discounting increasingly lofty expectations for the remainder of 2017.

Politics and the Markets

Politics and the Markets

Political risk has always been frustrating for investors. We like the rules of the game to be known and the playing field level. Any kind of uncertainty leads to volatility in markets. While many believed that the Republican sweep would deliver pro-growth initiatives, Trump’s troubles have led to concerns regarding those outcomes.

All Quiet on the Western Front

In a week full of geopolitical news, the market showed a bit of malaise. The S&P 500 posted a small loss of 0.4 percent. Bonds were similarly docile with the 10-year U.S. Treasury ending the week off two basis points at 2.3 percent.

Jobs, Jobs and More Jobs

Jobs, Jobs and More Jobs

The S&P 500 headed toward a third weekly increase on a rebound in hiring and economic optimism. The benchmark 10-year Treasury is currently trading at a yield of 2.35 percent, which is lower for the day but seven basis points higher than last week. The euro reached its highest level of the year, at 1.098, against the U.S. dollar, rallying on polls that favor a Macron win in France. Oil regained 2 percent after briefly dropping below a six-month low of $44 per barrel due to mounting concerns over a supply glut. 

Profits Over Politics

Profits Over Politics

As investors, the best thing about earnings season is it filters a lot of the other noise out of the market. A month ago, a tweet, tariff headlines or even a longshot tax proposal would have moved the equity markets. But now that we are in the throes of earnings season, equity investors are focused on the most important factor in investing: earnings.

Rubber Hits the Road

Rubber Hits the Road

First quarter earnings season kicked into high gear this week and investors were treated to a smorgasbord of blue-chip results across a range of industries. As they typically do, numbers for most companies have exceeded Wall Street expectations, but with almost 20 percent of the S&P 500 now having reported, the .75:1 ratio of “beats” is modestly better than where it has been over the last several quarters.

The Confidence Game

The Confidence Game

For the shortened holiday week, equity markets were down by almost 1 percent as investors followed events in Russia and North Korea. Interest rates were lower with the 10-year Treasury declining in yield from 2.36 to 2.22 percent.

The World Is a Dangerous Place

The World Is a Dangerous Place

Equity markets were relatively flat on the week as economic data was weighed against global events. Interest rates continued their slow trend downward with the 10-year U.S. Treasury finishing the week at a 2.32 percent yield.