Articles by Guy LeBas
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July Investment Perspectives
In this issue we look at the robotics revolutions and its impact on your portfolio, the causes and consequences of too much Federal Debt, and whether June's fireworks will outshine July's.
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Nothing Ever Happens, June Edition
Despite three months of “lowflation” prints, Fed officials remain hesitant to ease further given tariff and trade-related price risks. Statement language noted a reduced level of uncertainty about the economic outlook but no other material changes.
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Outlook 2025: Mid-Year Update
To better position portfolios for the remainder of 2025, please take a few minutes to read the ISG Mid-Year Update to learn more about their expectations for the economy, and possible scenarios for the equity and fixed-income markets.
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June Investment Perspectives
In this issue, we discuss how Corporate America has defied challenges, how trade balance might influence the “flow” theory of bond demand, and why it’s important not to overlook the value of a picture.
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Caught in the Eddies
For the moment, however, policymakers remain stuck in the eddies, unable to paddle upstream against inflation or downstream in support of growth risks.
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May Investment Perspectives
Factors that matter when defining a recession, bond market volatility, and earnings reports vs. the first 100 days.
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April Investment Perspectives
A look at potential opportunities in European stocks, surprising moves from foreign central banks, and the impact of April’s earnings expectations on stock prices.
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March Investment Perspectives
In this issue, we compare the Mag 7 with the Nifty Fifty, discuss how much federal debt is too much, and how March may bring a chance to increase equity exposure.
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Positioning Fixed Income Portfolios for Rising Growth Risks
In terms of portfolio construction, adding duration and increasing quality in fixed income are some of the most-efficient ways to provide some “insurance” against further declines in equity markets.
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February Investment Perspectives
The case for U.S. exceptionalism, four key issues facing fixed income, and a comparison of stock market returns and Punxsutawney Phil predictions.
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A Skip, Not a Pause
Our outlook will have annual inflation decelerating through the winter, likely permitting another rate cut at the March FOMC meeting.
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January Investment Perspectives
In this issue we look at what will shape the economy in 2025, revisit last year’s market themes, and discuss how history may hint at what’s ahead.
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Outlook 2025
Outlook 2025 offers the Janney Investment Strategy Group’s baseline prognostications for the economy, the equity and fixed-income markets, their evolution, and investment implications in the New Year.
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November Investment Perspectives (Special Election Edition)
In this special election issue, find out what president-elect will attempt to accomplish in his second term, if the current market narrative will morph into policy reality, and whether recent stock market gains are just a trend or a result of Trump’s win.
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October Investment Perspectives
We take a closer look at economic activity in China, the potential changes to tax exemptions and what that might mean for munis, and how earnings expectations drive stock prices.