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Michael Halloran May 10, 2022
Stocks remain volatile with investor concern focused on surging bond yields, Federal Reserve interest rate hikes, and the potential for higher rates to ultimately lead to a significant economic slowdown. These concerns are outweighing still positive economic readings and healthy first-quarter earnings where results are exceeding expectations, which is leading to modest upward revisions for the remainder of 2022.
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Mark Luschini, Guy LeBas and Gregory M. Drahuschak May 9, 2022
Some things that could go right, a look at TIPS, and stocks and the midterms.
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Gregory M. Drahuschak May 6, 2022
It feels like it was only yesterday that the equity market was fixated on an election but with midterm primary elections in sight followed by general elections in November, election issues again will command attention as the market tries to assess how the political winds might affect the economy. Stock market weakness in April increased attention on what the impact of the midterm elections might be.
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Gregory M. Drahuschak May 6, 2022
Not surprisingly, the Federal Reserve Open Market Committee (FOMC) meeting and the chairman’s press conference drew plenty of market attention, but not what initially appeared might be likely.
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Guy LeBas May 4, 2022
A long time ago in an economic galaxy far, far away: The Federal Reserve raised their target for overnight interest rates by 50 basis points in one clip—the first time they’ve done so in decades.
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Michael Halloran May 3, 2022
Stocks faced another challenging month in April with the S&P 500 Index down 8.7% for the month and down 12.9% for the year. High inflation readings and the amount of Federal Reserve interest rate hikes needed to tame inflation-driving demand remain the major sources of market uncertainty. The Ukraine crisis and China’s COVID lockdowns are also adding to the uncertain outlook.
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Michael Halloran April 25, 2022
Stocks remain volatile with concerns centered on inflation and how high the Federal Reserve (Fed) will have to raise interest rates to tame inflation. We remain positive on the economic outlook, continue to favor staying the course with long-term investment plans, and have the following observations.
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Guy LeBas April 22, 2022
Municipal bonds have faced their third-biggest decline in market value in two decades. Upon first read, this sounds alarming. However, we examine various aspects of the recent muni bond drawdown so investors can have a broad perspective on the situation.
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Michael Halloran April 19, 2022
Stocks fell again last week and remain in a trading range with concerns centered on inflation, the Federal Reserve’s higher interest rate response, and the additional uncertainty caused by the Ukraine crisis.
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Michael Halloran April 11, 2022
The S&P 500 Index fell 1.3% last week and remains in a trading range with concerns centered on the Federal Reserve raising interest rates, the recent yield curve inversion, and the potential for a significant economic slowdown or recession. We think it’s important to put historical context around yield curve inversions and have the following observations on the most recent inversions.
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Mark Luschini, Guy LeBas and Gregory M. Drahuschak April 6, 2022
Monthly commentary on timely investment and economic issues by Janney analysts Mark Luschini, Guy LeBas, and Gregory Drahuschak.
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Michael Halloran April 5, 2022
The economy and stocks faced significant headwinds in the first quarter, including high inflation readings, the Federal Reserve beginning a rate-hike cycle, the Ukrainian crisis, and persistent impacts from the pandemic, including China’s recent lockdowns.
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Michael Halloran March 29, 2022
Stocks rose again last week with the S&P 500 Index now up 8.1% over the past two weeks—its largest such rally since April 2020.
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Gregory M. Drahuschak March 23, 2022
Following the shortest recession on record, exactly two years ago the S&P 500 reached recession-induced intraday and closing lows. The aftermath, however, provided investors a valuable reminder.
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Guy LeBas March 17, 2022
The Federal Reserve raised its target for overnight interest rates in March 2022, triggering the first rate move since the COVID emergency cuts and the first tightening cycle since the one that began in December 2015.
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Gregory M. Drahuschak March 17, 2022
Year-to-date by mid-March this year, the S&P 500 was down 11.2%, which was its fifth-worst start to a year. The common belief that when a year starts poorly the full-year result is poor prompted investor concerns. As typically is true in any assessment of how the stock market will react, reaching simplistic conclusions can be dangerous.
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Guy LeBas March 16, 2022
Today, the Federal Reserve embarked on its first new tightening cycle since 2015, and its first change in interest rates since the emergency rate cuts of March 2020.
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Gregory M. Drahuschak March 15, 2022
For weeks, the stock market has been concerned about the potential for the Federal Reserve to raise interest rates for the first time since December 2015. History shows that rate hikes, on their own, are not the consistent drag investors often perceive them to be.
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Michael Halloran March 11, 2022
Markets remain volatile with attention focused on the uncertainty created by the Ukrainian crisis and the impact this is having on key commodity prices, especially oil.
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Mark Luschini, Guy LeBas and Gregory M. Drahuschak March 8, 2022
Monthly commentary on timely investment and economic issues by Janney analysts Mark Luschini, Guy LeBas, and Gregory Drahuschak.