Weekly Market Makers

Prognosis Negative

Prognosis Negative

While the broad market finished the holiday-shortened week positive, healthcare investors weren’t as fortunate. Continued chatter regarding “Medicare for All” as well as a Health and Human Services proposal to ban drug rebates for Medicare are weighing on the sector.

Tax Seasoning: SALT and Preparers

Tax Seasoning: SALT and Preparers

April 15 a.k.a. Tax Day for the United States, is fast approaching. As we near the finish line, many Americans are already seeing the impact; the IRS reported in congressional testimony earlier this month that they have issued 2.2 percent fewer refunds compared to the same time last year.

Global Hunt for Yield

Global Hunt for Yield

Investors the world over are starved for yield. Investments that provide a consistent stream of cash flow are vital for insurance companies, pensions, retired individuals and banks.

0-for-7

0-for-7

While yesterday was Major League Baseball’s Opening Day, this week’s 0-for-7 statistic unceremoniously belongs to the Federal Reserve for failing to achieve its 2 percent inflation target since it was established seven years ago.

Policy U-Turn

Policy U-Turn

On Wednesday, in a widely anticipated event, the Federal Reserve held a press conference and released the “minutes” from their last meeting. The Fed changed their forecast for the path of interest rates from two increases all the way down to … zero.

March Madness

March Madness

This weekend, millions of college basketball fans will start filling out their NCAA tournament brackets. The period during this “distraction” can be economically meaningful to corporate America: it is estimated that, due to lost productivity, companies will lose a combined $6.3 billion.

A Tin Star for the Market

A Tin Star for the Market

On Saturday, March 9, we mark the 10th anniversary of the stock market bottom that started the great bull market we’re now experiencing. Traditionally, tin is the gift given on a 10th anniversary. So in lieu of a gold star, the equity markets deserve a tin star for impressively running up 400 percent since that bottom.

Bonds 101

Bonds 101

Bonds are, at their core, less complex and more easily understood than most clients might assume. While “interest rates” and “bond yields” make them sound complicated, bonds can be boiled down quite simply: bonds are loans.

It's All About Confidence

It's All About Confidence

It’s hard not to be a little discouraged each night when you watch the evening news. The laundry list of problems facing the markets can seem quite daunting: Fed tightening, slowing growth, dysfunction in Washington, D.C, tariffs, etc. We believe that these are real issues that certainly need to be addressed.

Green Shoots in February

Green Shoots in February

The offhand reference to stock charts in a rising trend accurately describes the good times stock investors have enjoyed so far this year. For those who hung tight amid the carnage of December, the S&P 500 has delivered returns just shy of 11 percent so far this year.

"Fewer Bigger Stronger" - Bill Joseph, Morgan Stanley

"Fewer Bigger Stronger" - Bill Joseph, Morgan Stanley

On Thursday, SunTrust Banks and BB&T Corporation announced the biggest bank merger in 10 years. The partnership will create a banking powerhouse in the Mid-Atlantic region and throughout the southeast United States.

Closing the Gap

Closing the Gap

One of the four takeaways from our 2019 Economic Outlook is “Increased Turbulence” which has been in full force this winter. In December, the S&P 500 lost 13.5 percent, including the “Christmas Eve Massacre,” making it the worst December since 1931. In a complete reversal, the market returned 8 percent in January, representing the best January return in 30 years.

Opportunity Zones: Walk, Don't Run

Opportunity Zones: Walk, Don't Run

Opportunity zones have become a trending topic in financial circles of late and we are taking a “walk, don’t run” approach when reviewing the space.

Versus Capital Update

Versus Capital Update

Versus Capital is a partner that we utilize for private real estate and real asset investing on behalf of clients.  

Leave the Past Behind

Leave the Past Behind

Stocks put in a bottom on Christmas Eve of 2018 and have since rallied close to 10 percent. While December of last year was the worst since 1931, we believe that the worst is behind us.

Growing But Slowing

Growing But Slowing

2019 is off to a turbulent start. The first couple trading days of the year were the worst in 18 years, only to be eclipsed by a huge rally today that left equity investors a bit richer for the week, albeit whipsawed in the process.

Turning the Page

Turning the Page

As we look back on 2018, we can summarize the year as one where volatility emerged at the same time equity markets and the economy diverged enormously. In fact, 2018 is estimated to produce the strongest economic growth since the Global Financial Crisis at 3.0 percent.

The Present We Didn’t Ask For

The Present We Didn’t Ask For

While expectations were for the Fed to raise the federal funds rate by 0.25 percent, there was a small glimmer of hope that they may hold pat.

Walking Slowly in a Dark Room

Walking Slowly in a Dark Room

When the Federal Reserve meets next week, everyone will be waiting to hear what they have to say about future interest rate hikes.

Market Seesaw

Market Seesaw

With a week subdued by a day of mourning, traders hoped market volatility would follow suit: it did not. In less than three trading sessions the S&P 500 traded down five percent, the Dow Jones Industrial Average lost more than 1,400 points and small cap stocks lost 6 percent.