Take the Money and Run

Take the Money and Run

Global equity markets continued their hot start to the year with the S&P gaining 0.6 percent, Europe 1.25 percent and emerging markets up 1.65 percent. On the other hand, bonds declined slightly as interest rates moved higher with the 10-year U.S. Treasury yield finishing the week at 2.63 percent, its highest level since last spring.

Q1 2018 Investment Strategy Video

Q1 2018 Investment Strategy Video

In the video, George Hosfield, CFA, principal and chief investment officer, explains why we believe this ninth year of economic expansion and related bull market for equities will extend into 2018. 

Jones Quoted by Reuters

Jones Quoted by Reuters

IPhone Addiction May be a Virtue, not a Vice for Investors

Apple investors are shrugging off concerns raised by two shareholders about kids getting hooked on iPhones, saying that for now a little addiction might not be a bad thing for profits.

U.S. Core Inflation Drifts Slightly Higher

U.S. Core Inflation Drifts Slightly Higher

U.S. stocks continued their upward climb this week, with the Dow Jones Industrial Index trading above 25,775 and the S&P 500 rising approximately 1.5 percent for the week. The U.S. dollar traded off relative to the euro, which surged to a three-year high of $1.21.

Off to the Races

Off to the Races

Stocks picked up where they left off in 2017, rising across market caps and geographies for each of the first four trading days of the new year. The Dow Jones Industrial Average eclipsed the 25,000 mark this week and it took just 23 trading days to gain its latest 1,000 points—the fastest such gain in index history.

Outlook 2018

Outlook 2018

As the U.S. economy enters its 10th-consecutive year of growth, significantly it has been joined by an increasingly synchronized expansion of the major world economies. Though asset prices across-the-board are elevated at this stage of the economic cycle, we believe that in 2018 equity investors stand to benefit from further economic expansion and lower corporate tax rates that together could result in another year of double-digit earnings growth.

One More Time

Stocks finished the last week of December relatively flat resulting in a 20+ percent total return for the S&P 500 for 2017. Interest rates were steady with the yield on the 10-year U.S. Treasury ending the year at 2.41 percent, down slightly from a year ago.

Tax Cuts and Jobs Act: Gifts for Investors

Tax Cuts and Jobs Act: Gifts for Investors

This week the S&P 500 was up slightly as investors focused on the passage of the Tax Cuts and Jobs Act which was signed into law by President Trump on Friday morning. Conversely, bonds sold off with interest rates moving higher with the 10-year U.S. Treasury increasing in yield from 2.39 percent to 2.48 percent, which is a substantial move in the span of a week. Bond investors are anticipating an increase in Treasury bond issuance with expected increased deficit spending due to the tax law.

A New Hope … In Congress

A New Hope … In Congress

Markets moved modestly higher this week with domestic stocks up nearly 1 percent and the benchmark 10-year Treasury was off 2 basis points. As if held up by a mysterious force, Bitcoin set a new high Friday just shy of 18,000.

Tax Reform and the Muni Market

Tax Reform and the Muni Market

Stocks climbed in the U.S., Asia and Europe as the U.S. government averted a shut down and the jobs report reinforced optimism. The U.S. added 228,000 jobs in the month of November, higher than the expected addition of 195,000 jobs, due to an accelerating hiring trend which economists expect to continue into the next year. The S&P 500 hit new highs today, trading above 2,650.

Good Old Days

Good Old Days

It was an eventful week in Washington and on Wall Street. Republicans appeared to be moving along on the tax bill, but a hiccup occurred Thursday evening that has delayed voting until sometime next week. Strong economic data and hopes for a corporate tax cut led the S&P higher by 1.6 percent this week.

A Time to Give Thanks

A Time to Give Thanks

Another week, another record high for stocks. This has become the drill in 2017, as markets haven’t seen a weekly pullback in the S&P 500 greater than 2 percent in well over a year.

The Calm Before the Storm?

The Calm Before the Storm?

Volatility returned to the markets this week with the S&P 500 declining by about one percent as investors followed political events in Washington, D.C. Interest rates were lower with the 10-year U.S. Treasury declining in yield from 2.36 percent to 2.22 percent.

Taxman

Taxman

After eight consecutive weeks of positive returns, the S&P 500 declined by 0.25 percent as investors digest another solid earnings season and evaluate the implications and likelihood of the “Jobs Act” becoming law. To add to the confusion, there are substantial differences between the House and Senate version of the bill released on Thursday.

Rudds Quoted in Lake Oswego Review

Rudds Quoted in Lake Oswego Review

Philanthropy from the Heart

Lake Oswego's Rudds and Millers will be honored November 13 for their commitment to giving back

Meet the New Boss -- Same as the Old Boss

Meet the New Boss -- Same as the Old Boss

A normal week sees one or two impactful pieces of news that influence the markets. By all accounts this was no ordinary week on that front, yet the markets have largely shrugged it off.  

High Enough?

High Enough?

Friday revealed strong earnings in large cap tech-fueled stocks, resulting in a slightly positive week for the market. This leaves the S&P 500 at another all-time high. Interest rates ticked up as well, as economic data continued to show improvements. The 10-year U.S. Treasury ended the week with a yield of 2.43 percent, up from 2.35 percent.

Musical (Fed) Chairs

Musical (Fed) Chairs

Treasury rates and the U.S. dollar climbed while U.S. equities are headed towards six straight weeks of gains. The market appears to be betting on the successful passing of a tax overhaul after the U.S. Senate approved a budget resolution. The bond market fluctuated and ended the week yielding around 2.37 percent, trading up from last week’s level of 2.27 percent.

Dordevic Quoted in The Bulletin

Dordevic Quoted in The Bulletin

Haunted by Black Monday, Wall Street in Record Territory

Tim Duy was a freshman in an introductory course in economics at the University of Puget Sound. Jon Wolf had just broken loose from a big investment firm to join an upstart, independent firm in Anchorage, Alaska. Dean Dordevic was in asset management with Kidder Peabody on Wall Street.

Q4 2017 Investment Strategy Video

Q4 2017 Investment Strategy Video

Q4 2017 Investment Strategy Video