• We Remain Encouraged by the Stock Rally Despite Poor Start to the Year

    Stock market participation continues to broaden with increasing participation from many diverse industries.

  • Lower Inflation and Healthy Consumer Spending Supports the Rally

    The Personal Consumption Expenditures report remains consistent with inflation falling toward the Federal Reserve’s (Fed’s) 2.0% target while consumer spending remains robust.

  • Outlook 2024

    Outlook 2024 offers the Janney Investment Strategy Group’s baseline forecasts for the economy and equity and fixed income markets in the coming year.

  • Once A Grinch, Forever Changed

    Fed policymakers held overnight interest rates unchanged at 5.25% - 5.50%, the fourth consecutive hold after 18 months of hikes.

  • December Investment Perspectives

    In this issue we discuss making a case for metals, the role politics play in objective decision-making, and if seasonal bias will dominate December.

  • November Investment Perspectives

    In this issue of Investment Perspectives, we examine the odds of a recession within the next 12 months, look at the bond market sensitivity to supply, and discuss why the seasonal bias is skewed to the positive.

  • Importance of Productivity

    Productivity is critical for economic growth, corporate performance, and higher living standards. We see several key factors that could sustainably boost U.S. productivity in the coming years. We discuss these factors, their impact on major sectors of the economy, and the resulting investment implications in this piece.

  • Interest Rates in Turmoil

    The U.S. economy has a good chance to experience a garden-variety slowdown over the next 12 months and a small but growing chance to experience a multi-year productivity boom. If there is a mild recession, interest rates should fall somewhat. By contrast, if productivity growth does indeed accelerate, there is a lot more room for interest rates to rise.

  • October Investment Perspectives

    In this issue of Investment Perspectives, we share why we believe the economic picture is still reasonably bright. We also look at how interest rates provide useful signals regarding economic conditions, and why various technical factors may provide the setting to increase equity exposure in October.

  • Investment Implications of a Potential Government Shutdown

    We have the following thoughts on the potential government shutdown.

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