• Taxable muni flows growing

    We look at municipal exchange traded funds (ETFs), a growing factor in the muni investment world.

  • The Annual Sector Guessing Game

    Selecting which sectors will be the best performers in the S&P 500 is an ongoing exercise, but never more so than near the start of a new year.

  • A solid job report and high consumer confidence signal further economic growth

    Despite concerns that trade talks could fall apart, our base case is that the trade truce will hold and the global economy will show improvement as we move into 2020.

  • Global conditions improve, inflation remains low, and December poised to be good

    Global conditions are improving, inflation remains low, and December is poised to be a good month.

  • Investing in public power bonds

    Publicly owned utilities and electricity cooperatives are critical elements of U.S. infrastructure, providing power to 54 million U.S. households and businesses.

  • Bank & Thrift Newsletter

    1. Daily Fix, 2. Bank, Thrift & MHC Summary Valuation, 3. Recent Bank M&A Transactions, 4. Relevant Janney Capital Markets Professionals

  • Cash may be king but short-term investments might be prince

    We are once again in a lower-for-longer environment. The yield hunt sustains, driving up the price and down the yield of even lower-rated bonds.

  • Encouraged by improving global manufacturing conditions

    Stocks reached new highs again last week and continue to benefit from easy monetary conditions provided by central banks that have significant leeway due to low inflation.

  • In ETFs, forewarned is forearmed

    Done correctly, the selection of individual common stocks requires rigorous effort. Investors, however, often seek a way to shortcut this process.

  • Stocks embed trade truce optimism and stabilizing manufacturing conditions

    Stocks continue to trade near all-time highs and are supported by several factors.

  • Bank & Thrift Newsletter

    1. Daily Fix, 2. Bank, Thrift & MHC Summary Valuation, 3. Recent Bank M&A Transactions, 4. Relevant Janney Capital Markets Professionals

  • Leveraged buyout primer

    Leveraged buyouts (LBOs) are perceived as an attractive vehicle for investors to create more value for shareholders.

  • Presidential election cycles and stock market performance

    Although it is nearly a year away, investors are already considering the potential equity market impact of the 2020 United States presidential election.

  • Acrophobia

    The fear that new stock market heights might lead to a sharp downturn can prompt costly decisions.

  • Stocks anticipate improving global economic conditions

    The major stock market indexes reached new highs last week with globally exposed cyclical sectors continuing to outperform domestically oriented defensive sectors. We are encouraged by this signal that suggests stocks are anticipating improving global economic conditions.

  • Bank & Thrift Newsletter

    1. Daily Fix, 2. Bank, Thrift & MHC Summary Valuation, 3. Recent Bank M&A Transactions, 4. Relevant Janney Capital Markets Professionals

  • Stocks reach all-time highs on improving expectations

    Stocks are making new all-time highs due to earnings coming in better-than-expected, lower economic policy uncertainty on reduced trade tensions, strong labor market data, and improving global manufacturing indicators.

  • Are state and local governments prepared for economic downturn?

    The initial read on US GDP growth for the recently ended 3rd quarter was a 1.9% growth pace, only the third quarter with sub-2% growth rate since the end of 2015.

  • Economic Data, Limits of Monetization, and Equities Enter Profitable Period

    Investment Perspectives provides insight into the markets from three of Janney's elite strategists.

  • Long-term capital market assumptions - A low return world

    This paper establishes our rationale for low returns for most major asset classes in the coming years.

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