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Stubborn Inflation but Healthy Profits Supporting Stocks
The Personal Income and Outlays report showed personal consumption expenditures (PCE) rose a better-than-expected 0.8% m/m in March, indicating overall consumer spending remains robust.
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Higher-ish for a Little Longer-ish
Although there will be oodles of conspiracy theories about the Fed providing stimulus by slowing QT, this announcement is just the natural conclusion of a process that started more than two years ago.
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Behavioral Finance and Investment Principles IV
Part 4: Endowment Effect, Sunk-Cost Fallacy, Illusion of Control.
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Healthy Economic Readings Should Support a Positive Earnings Season
Learn more about the latest market and economic news in our Investment Strategy Group’s weekly update.
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A Healthy Labor Market but Stubbornly High Inflation
The strong March labor market report is a positive sign for income and consumer spending and suggests that the economy remains on solid footing.
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Behavioral Finance and Investment Principles III
Part 3: Overconfidence, Anchoring Effect, and Herding.
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April Investment Perspectives
In this issue we discuss opportunities in the Eurozone, understanding the sensitivity to volatility, and the record-breaking stock market performance.
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An Encouraging Manufacturing Signal but Sticky Inflation
We pay close attention to monthly business surveys because they provide important and timely insight into the private sector economy.
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Finding Some Zen in a Garden of Volatility
After substantial increases in interest rates in early 2024, we view the fixed-income markets as fairly valued relative to the economic and Fed outlook. These valuations mark the first opportunity to add duration since the cautious position we advocated in our Outlook 2024.
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Investment Themes for the Next Decade
This piece reviews the major secular investment trends that will influence the economy and markets in the coming years.