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Spring Rain Delay
The Federal Reserve Open Market Committee left its target for overnight interest rates unchanged at a range of 5.25% – 5.50%, their fifth unchanged decision. Both markets and Fed officials have ruled out the necessity of further tightening barring any tail risk to inflation.
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March Investment Perspectives
In this latest Investment Perspectives, we discuss the economic evolution of Mexico, the Fed’s many misconceptions, and whether there are new highs ahead for the S&P 500.
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February Investment Perspectives
In this issue of Investment Perspectives, we look at the key drivers in the surge for copper demand, the 2024 trends in the fixed-income markets, and what will matter most for the stock market in the long term.
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January Investment Perspectives
In this month’s Investment Perspectives, the Investment Strategy Group discusses how the pursuit of a soft landing continues in the new year and anticipates volatile but trending bond markets. Plus, strong market performance in December points to potential positive results for 2024.
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Outlook 2024
Outlook 2024 offers the Janney Investment Strategy Group’s baseline forecasts for the economy and equity and fixed income markets in the coming year.
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Once A Grinch, Forever Changed
Fed policymakers held overnight interest rates unchanged at 5.25% - 5.50%, the fourth consecutive hold after 18 months of hikes.
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December Investment Perspectives
In this issue we discuss making a case for metals, the role politics play in objective decision-making, and if seasonal bias will dominate December.
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November Investment Perspectives
In this issue of Investment Perspectives, we examine the odds of a recession within the next 12 months, look at the bond market sensitivity to supply, and discuss why the seasonal bias is skewed to the positive.
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October Investment Perspectives
In this issue of Investment Perspectives, we share why we believe the economic picture is still reasonably bright. We also look at how interest rates provide useful signals regarding economic conditions, and why various technical factors may provide the setting to increase equity exposure in October.
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September Investment Perspectives
In this issue we take a look at BRICS+ and potential investment opportunities, determine if bond market supply matters, and discuss why September is a more worrisome month for stocks than October.
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August Investment Perspectives
In the latest Investment Perspectives we discuss why GDP matters for investors, explore ways to structure a core holding of long-term bonds, and determine if the market can cast aside seasonal weakness and build on the July rally.
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July Investment Perspectives
We take a look at why China's economic recovery has struggled, the core-satellite method of portfolio construction, and how the recent tech-stock dominance offers a reminder of past performance.
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Outlook 2023: Mid-Year Update
In our initial Outlook 2023 publication, we offered a thesis around the concept of two-way risk.
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June Investment Perspectives
We examine the plausibility of avoiding a recession this year, what happens to the bond market now that the debt-ceiling saga ended, and what's expected to weigh on the stock market this month.
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May Investment Perspectives
We examine why it has not looked like a recession yet, how the Fed policy tools have changed, and whether the stock market will remain resilient through the coming months.
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April Investment Perspectives
We examine whether the recent bank failures carry further implications for the economy, determine if the shape of the yield curve is a sign of an imminent recession, and share valuable lessons as the second quarter begins.