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Our Investment Views
Emilie Ma
Investment Strategy Video: Inflation's Flame ...

George Hosfield, CFA, discusses Ferguson Wellman's quarterly strategy titled, "Inflation's Flame Flickers," which addresses the narrow market leadership, the impact of higher interest rates on inflation and how assets are priced at this stage of the economic cycle.

Investment Strategy Video: Inflation's Flame Flickers
Our Investment Views
Guest User
Investment Strategy Video: Stalemate

George Hosfield, CFA, discusses the firm's quarterly strategy titled "Stalemate," which highlights the Fed's ongoing battle to tame inflation along with our views on the health of the banking industry and capital market expectations for the balance of the year.

Investment Strategy Video: Stalemate
Our Investment Views
Guest User
Third Quarter 2022 Investment Strategy Video: ...

Director and Chief Investment Officer George Hosfield, CFA, discusses the Fed raising interest rates, peaking inflation and our view on equities and volatility across all asset classes in our Investment Strategy titled, “Balancing Act.”

Third Quarter 2022 Investment Strategy Video: Balancing Act
Annual Report
Mary Faulkner
2021 Annual Report

2021 Annual Report

2021 Annual Report
Wealth Management
Guest User
First Quarter 2022 Wealth Management Insights ...

Mary Lago, CFP®, CTFA, discusses the theme for the first quarter of 2022, “Valuing the Resources of Time and Money.”

First Quarter 2022 Wealth Management Insights Video: Valuing the Resources of Time and Money

investment management

Data vs. Drama: The Real Economic Story

Data vs. Drama: The Real Economic Story

After a 20% rebound from its April 7 lows, the S&P 500 is positive for the year, marking one of the most significant short-term comebacks in market history. The market rallied on Monday following weekend news about tariff negotiations with China. In a complete reversal from the earlier “Liberation Day” tariff announcement, the punitive 145% tariff rate on Chinese goods was reduced to 30%, with a 90-day pause implemented. In response, China lowered its retaliatory tariff rate on U.S. goods from 125% to 10%.

Muni Moment: Why Yields Are Attractive Now

Muni Moment: Why Yields Are Attractive Now

For investors seeking income and a source of portfolio stability, municipal bonds present a compelling option. These debt instruments are issued by cities, states and local governments across the United States to finance public projects such as schools, roads and utilities.

Déjà Vu and the Debt Ceiling

Déjà Vu and the Debt Ceiling

Yogi Berra might have been one of the most accomplished baseball players in history, but his greatest legacy may have been his contribution to classic sayings, otherwise known as “Yogi-isms.” His famous quote about déjà vu was supposedly uttered after watching Mickey Mantle and Roger Maris hit back-to-back home runs in 1961. However, one could easily hear it being uttered today when observing the politicians in Washington D.C. grapple with the federal debt ceiling that is due to be lifted or suspended again this year.

Commercial is not 2008 Residential

Commercial is not 2008 Residential

As we move further into 2024, the commercial real estate (CRE) market continues to attract investors’ attention. Often, when the Federal Reserve increases short-term interest rates rapidly, as in this cycle, some aspect of the capital markets or asset class breaks. CRE is the primary suspect for a crisis in this cycle.

Unexpected Bounce: U.S. GDP Defies Gravity

Unexpected Bounce: U.S. GDP Defies Gravity

Remember "2023: The Year of the Hard Landing"? That was the dreary refrain echoing through late 2022, with recession fears dominating headlines and investment strategies. Fast forward to today, and the picture couldn't be more different.

Strong Start

Strong Start

The final data points of 2023 are trickling in, and investors are using this information to inform their opinions on what is expected in 2024. Starting this month, we have begun to share our 2024 Investment Outlook with clients and professional partners – we look forward to having the opportunity to be together and celebrate what’s to come.

Celebrating 10 Years: West Bearing Investments

Celebrating 10 Years: West Bearing Investments

July marks the 10-year anniversary of West Bearing Investments, a division of Ferguson Wellman.

Higher for Longer

Higher for Longer

That a notable Silicon Valley bank failure could overshadow significant developments in the labor market is a testament to how attuned investors remain to the unpredictable consequences of the Fed’s ongoing campaign to raise interest rates.

Housing Crisis 2.0?

Housing Crisis 2.0?

One topic we are consistently asked about is the risk of another housing crisis. Housing is clearly softening in the wake of the increases in interest rates, causing mortgage rates to climb sharply this year and making home ownership unaffordable for many Americans.

This Too Shall Pass

This Too Shall Pass

It has been a very challenging year for the capital markets. Not only have stocks entered a bear market, but bonds are on pace to have their worst return in more than a century. Typically, bonds have a negative correlation with stocks, and, as such, tend to have strong returns when stocks decline. However, this is the first time in 52 years that stocks and bonds fell in the same year.

Patience Pays Off

Patience Pays Off

Our initial U.S. economic outlook has generally played out as expected this year: continued (albeit slower) economic growth, persistent inflation, interest rate hikes and increased market volatility. However, Russia’s invasion of Ukraine was an unexpected significant development that further elevated market volatility and dampened the global economic outlook.

Gaining Altitude: Alternatives Fly Above the Radar

Gaining Altitude: Alternatives Fly Above the Radar

It would appear that the alternative investment industry has the complete focus of the SEC, and it is not hard to see why. Attracted by the high return potential and uncorrelated nature of many alternatives, sophisticated investors from significant pension plans, sovereign wealth funds, family offices and high-net-worth individuals have significantly increased allocations to the asset class over the last few decades.

Santa Claus is Leaving Town

Santa Claus is Leaving Town

Santa Claus came in the waning days of December and brought his namesake rally. But as the calendar turned, Santa left, and the markets started the year with a stumble.

Are We There Yet?

Are We There Yet?

“Are we there yet?” is a familiar back seat refrain that often occurs during long, summertime road trips involving bored children and their beleaguered parents. As we transition through our second COVID-affected summer, this frustration is also felt by investors and other market participants who long for some return to “normal.” Surely, we must all be there by now, right?

Post-COVID Commercial Real Estate

Post-COVID Commercial Real Estate

We are beginning to see the end of the pandemic as U.S. vaccine distribution begins this week. In addition, our research partner, Evercore ISI Research, is projecting that 100 million people will be vaccinated by end of the first quarter. Along with this victory comes predictions for the unfolding outcome for post-pandemic commercial real estate. The big debate centers around the persistence of the “work from home” trend permanently impacting demand for office space.

Humans Being

Humans Being

While retail investors continue to be focused on negative media headlines, stocks continue to climb the “wall of worry.”

Unscripted Inflation?

Unscripted Inflation?

The aggressive fiscal and monetary response to the COVID-19 crisis has been unprecedented in terms of speed and magnitude. A common topic we receive from clients is about the risk of inflation as a result of the response to the crisis.

The Global Economy is Healing

The Global Economy is Healing

Economic signals indicate that the recovery has begun around the world. As expected, China has been the first to emerge from recession, and their economy is moving forward.

A Lost Decade

A Lost Decade

This morning, the U.S. Bureau of Labor Statistics released unemployment statistics capturing the full effects of shelter-in-place mandates: in April, over 20 million jobs were lost, the highest monthly loss on record. This resulted in an unemployment rate of 14.7 percent, the highest since the Great Depression when unemployment was above 25 percent.

Ten Years After

Ten Years After

As investors turn their calendars to 2020, we reflect on the previous decade in this holiday-shortened trading week.