March 2, 2015 - HEADLINES SUMMARY: The S&P 500 Index was up 5.5% in February, its best showing since October 2011. We remain encouraged by the U.S. economic data and still favor U.S. equities over bonds and cash. We also see significant opportunities in European and Japanese stocks on a currency hedged basis. While the U.S. is just meeting economic expectations, the bar is lower in the Euro area and Japan where stocks have better valuation support. Estimates show that 16% of developed market bonds currently trade at a negative yield, led by Swiss and German bonds. The extremely low European bond yields should ultimately result in improved economic activity, better corporate profits, and higher stock prices. Click here for the full Weekly Bulletin.
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