• Investment Perspectives: China, emerging market debt, stocks in September

    Monthly commentary on timely investment and economic issues by Janney analysts Mark Luschini, Guy LeBas, and Gregory Drahuschak.

  • The day you can’t forget

    Twenty years since the 9/11 attacks, the events of that day still are fresh in the memories of anyone who lived through them.

  • Business Surveys Consistent with Further Strong Economic Growth

    Stocks made new highs again last week and we remain optimistic about the outlook for the economy and financial markets.

  • Podcast: Federal Reserve Policy Expectations and Update on Economic Growth

    In this podcast, Market Strategist Gregory Drahuschak speaks with Guy LeBas, Chief Fixed Income Strategist, and Mark Luschini, Chief Investment Strategist, to discuss the latest developments in the fixed income and equity markets.

  • Healthy consumers, banks’ & corporate profits bode well for economy and stocks

    The S&P 500 has reached a new high on 31% of trading days year to date—the highest annual rate on record, and is up 21% so far in 2021.

  • Pace Over Timing

    The Kansas City Fed’s Jackson Hole Symposium is an annual event in which policymakers and academics debate monetary policy frameworks. Traditionally, the Fed Chair provides a detailed policy outlook at the conference, though the importance of that outlook is more myth than reality. Fed Chair Jay Powell’s 2021 Jackson Hole speech had few surprises and largely reiterated his other public statements from recent weeks. Provided job growth continues, Powell clearly anticipated the FOMC will reduce or “taper” bond purchases in the next two FOMC meetings.

  • Positive leading indicators as labor market heals

    Despite the near-term uncertainty posed by the resurgent virus, we remain encouraged by the economic recovery that is being supported by the labor market and healthy corporate profits.

  • Preserve purchasing power to weaken inflation’s impact

  • P/E Ratio: It's all in the "E"

    Is the stock market cheap or expensive? The answer to this common question often includes a reference to the market’s price-earnings ratio (P/E), which is used as a measure of stock market valuation. Investors might be interested in the “P” of the ratio but it all begins with the “E”, which lately has surpassed even the most optimistic estimates.

  • Is U.S. withdrawal from Afghanistan relevant for markets?

    The Taliban’s conquest of Afghanistan has little direct significance for global financial markets currently. However, the U.S. withdrawal connects with other geopolitical and domestic currents that could have both macro and market significance at some point.

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