• Bear trap, negative yields, and range-bound market

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

  • The economic and investment implications of the Saudi oil field attacks

    While it is early to get a firm assessment on the impact of rising oil prices and Middle East tensions, we would stress the following points concerning the attacks.

  • Brexit difficulties and investment implications

    After voting to leave the European Union (EU) back in June 2016, the United Kingdom (UK) is still trying to figure out how to accomplish this—after several extensions to the original two-year window.

  • Europe's latest angst: Italy

    Recent political news from Italy reopens the threat that the third-largest economy in Europe, and the eighth largest in the world, could exacerbate Europe’s already weak conditions.

  • US-China trade tensions

    Stocks are reacting positively after President Trump sought to ease trade tensions with China and struck a more conciliatory note on the final day of the Group of Seven summit (G7), where world leaders have pressured him to de-escalate the trade war.

  • Importance of productivity

    Productivity is critical for higher living standards, economic growth, and corporate performance.

  • A healthy consumer continues to bode well for the economy

    While it is too early to get a firm assessment on the impact of rising oil prices and Middle East tensions, we remain encouraged by the incoming economic data and the potential for reduced trade tensions.

  • Service sector continues to support economic growth

    Stocks were higher again last week on news that the U.S. and China will hold high-level trade discussions in October.

  • Trade uncertainty continues to drive market volatility

    Stocks are reacting positively after President Trump sought to ease trade tensions with China and struck a more conciliatory note on the final day of the Group of Seven summit (G7)—stating that meaningful negotiations with China were ongoing.

  • Consumer spending continues to support economic growth

    Stocks had their best week since June as trade tensions with China showed some signs of easing.

  • A healthy consumer and still optimistic small business bodes well for growth

    Stock market volatility continued last week, with the latest worries centered on falling bond yields and further yield curve inversion—the 30-year Treasury yield dropped below 2%, while 10-year Treasury yields briefly fell below 2-year yields.

  • Update on US-China trade tensions

    Stocks are reacting positively after the United States Trade Representative released a statement that the U.S. would delay and remove items from the roughly $300 billion of Chinese imports (primarily consumer products) facing 10% tariffs on Sept. 1.

  • Another cyclical slowdown, negative yielding debt, and the bumpy bull market

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

  • U-Turn complete; Elapsed time 7.5 months

    As we noted in our May commentary, Jay Powell and friends seemed to be looking for any excuse to cut rates.

  • Municipal Market Monthly — July

    In theory the $58B total of new 2019 cash is enough to absorb more than a third of the first six months of municipal new issue volume ($166.8B).

  • New tariffs raise the uncertainty of a final trade deal

    Stocks are reacting negatively after President Trump’s announcement of a 10% tariff on $300 billion in Chinese imports, which extends the 18-month trade war (25% tariffs were already in place for $250 billion worth of imports) and now puts tariffs on essentially all $550 billion worth of goods coming from China, with this round concentrated in consumer goods.

  • Stocks make new highs on better earnings while anticipating global improvements

    Stocks made new highs again last week, with earnings that are coming in better than expected. A healthy consumer continues to support U.S. economic growth. Meanwhile, global manufacturing conditions remain weak and we continue to anticipate China’s economic stimulus will lead to better global conditions.

  • Encouraged by healthy retail sales and a positive start to earnings season

    Stocks touched all-time highs Monday and we remain optimistic that the global economic slowdown is troughing while the U.S. economy remains on an expansionary path.

  • Stocks make new highs on dovish Federal Reserve comments

    Stocks hit record highs last week, driven by the promise of lower interest rates while the incoming economic data remains consistent with slower, but still positive, economic growth.

  • Spiking the punch bowl, the next economic downturn, and second-half surge

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