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Library » July 2018 Perspective

July 02, 2018 | Market Commentary

Trade Tensions Heat Up It appears increasingly likely that Chinese President Xi Jinping will attempt to match President Trump blow for blow after the Trump Administration announced plans to go ahead with initial tariffs on $50 billion worth of Chinese goods. China responded by declaring …

Library » June 2018 Perspective

June 05, 2018 | Market Commentary

Italian Politics Roil Markets In late May, initial attempts in Italy to form a coalition government between the populist Five Star Movement and the far-right League failed, sparking a political crisis and market turmoil. Italian bond yields surged and the debt of other periphery EU countries …

Markets & Economy » Inflation Worries Are Picking Up

March 19, 2018 | Market Commentary

The Federal Open Market Committee’s two-day policy meeting begins tomorrow, March 20, and investors are assigning a high probability that policymakers will hike interest rates by 25 basis points. With respect to the inflation outlook, the magnitude and frequency of changes to the Fed funds rate …

Library » February 2018 Perspective

February 08, 2018 | Market Commentary

The U.S. Economy US stocks began 2018 right where they left off, marching steadily higher. The synchronized global expansion persisted into the New Year, aiding US economic growth and supporting equity prices. Rising corporate earnings, tax reform, and elevated investor sentiment have each also …

Library » January 2018 Perspective

January 05, 2018 | Market Commentary

The U.S. Economy 2017 was a great year for investors as strong returns pushed domestic equities to fresh all-time highs. Robust equity performance was seen across many of the major indices both domestically and abroad. Most fixed income sectors posted healthy gains as well. At the same time, …

Vantage » The U.S. Manufacturing Renaissance: Weathering the Storm

November 23, 2015 | Domestic Markets

We first explored the U.S. manufacturing renaissance in 2012, when our perspective was that a resurgence of domestic manufacturing activity would be a silver lining—not a silver bullet—for U.S. economic growth. This assessment has proved to be correct over the past three years, and we believe …

Markets & Economy » Oil Companies Make Deep Spending Cuts

June 04, 2015 | Market Commentary

The nose dive in crude oil prices has been a major story across global economies and financial markets during recent quarters. Signs of weaker economic growth, coupled with unexpected incremental supply increases from countries such as Iran and Libya, dealt a crushing blow to the commodity last …

Markets & Economy » Three Big Market Moves Drive Volatility Higher

February 27, 2015 | Market Commentary

Three big moves in major financial markets during recent quarters should give investors reason to anticipate heightened volatility going forward, namely significant increases in the value of the U.S. dollar and Swiss franc, as well as a major selloff in crude oil. The dollar, franc, and oil are …

Markets & Economy » High-Yield Approach Amid the Oil-Driven Selloff

January 20, 2015 | Fixed Income

The downward move in oil prices has had far-reaching implications for the global economy. One area of impact is the high-yield debt market, where energy issues currently account for approximately 13%. As oil prices continued to fall, pressure that initially impacted energy issuers became more …


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