• Investment implications of Johnson's big UK election victory and Brexit

    After a decisive electoral victory, UK Prime Minister Boris Johnson reiterated his pledge to take Britain out of the European Union (EU) by the current January 31 deadline.

  • USMCA Trade Agreement Investment Implications

    The Trump Administration and House Democrats reached an agreement on a revised U.S.-Mexico-Canada trade agreement (USMCA or NAFTA 2.0), setting the course for likely ratification.

  • Hold again, hold again, jiggety-jig

    The Federal Reserve Open Market Committee followed up three consecutive rate cuts at their July, September, and October meetings with a pause in December.

  • 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

  • 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.

  • It is different this time

    The worst December result last year for the S&P 500 index since the Great Depression still lingers in investors’ minds with the worry that a repeat performance might be on tap this year. Context, however, is important as 2019 nears a close.

  • 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

  • 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.

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