Summary U.S. stock investors are at it again.  Outside of a tax loss harvesting blip at the end of last year, the S&P 500 has been moving steadily higher over the past several months since bottoming last October.   Over this time period, the benchmark index posted a more than +20% trough to peak bounce.  A primary driver of this recent … Read More

Summary Non-U.S. stocks have been on fire as of late.  After years of chronic underperformance relative to the United States, both developed international and emerging market stocks have been strongly outperforming over the last few months.  This recent development raises a worthwhile question – have we finally arrived at the point where non-U.S. markets are ready to take the sustained … Read More

Summary Maria: “You should get out of these clothes immediately. You’ll catch your death of pneumonia, you will.”Clouseau: “Yes, I probably will. But it’s all part of life’s rich pageant, you know?” A Shot In The Dark, 1964 After more than a year of a back and forth downward slide, stocks continue to struggle. Frustrating indeed, but such challenges are all part … Read More

Summary We have begun the descent down the other side of the mountain. The long dormant inflationary pressures that erupted nearly two years ago are increasingly subsiding. Assuming this trend continues, this has important implications for the capital markets outlook as we move through the coming year. The impact on some asset classes may take time to materialize, while other … Read More

This week, we had our first full week of market action in 2023.  And so far, we’ve been seeing a friendly market with mostly up days here as we begin the year.  Could it be a sign of things to come?  Maybe but I wouldn’t set my sights on that too soon because there is still a lot of “froth” … Read More

As we begin the new year, it’s only fitting to take a step back and reflect on what was and what is to be.  Well, we all know how 2022 played out and it was quite frankly an unprecedented year in both the equity and bond markets as both trended down pretty hard all year.  Equity losses were the highest … Read More

Happy New Year!  This week, we’ve had a bit of an up and down week in the markets as it has been trying to eke out a Santa Claus rally. One developing story that may shake things up is the news out of China about another Covid outbreak.  This is certainly not what anyone wants to hear but it is … Read More

Happy Holidays to everyone and wishing you a very Merry Christmas and a Happy Hanukkah!  The markets this week have continued to roll over and unfortunately, it does not look like we are going to have that classic Santa Claus rally.  So in terms of thinking about the holidays and trying to add some holiday cheer, let’s look at this … Read More

Happy Holidays to Everyone and I hope you are enjoying a nice, relaxing holiday season.  It seems like every day gets a little slower as we look forward to the pause Christmas, Hanukkah and New Years brings.  And with the news out of the Fed and BLS this week on inflation and rates, it seems like the market is looking … Read More

Happy Holidays to everyone out there and I hope you are all getting into the Christmas Spirit!  Speaking of which, there’s a little bit of “Bah Humbug” going on in the markets right now as concerns over the timing of a Fed pivot and possible recession are weighing on investors’ minds.  As of Wednesday’s close, all three major indices were … Read More