August 2023 Market Outlook
Equity markets have entered a seasonal correction that typically lasts into the fall months with important market bottoms often reached in the month of October. Earnings estimate revisions, which are…
Economic Perspective | July 2023 Chartbook
According to the Commerce Department, U.S. gross domestic product grew at an annualized rate of 2.4% during Q2, well above the consensus estimate of 1.8%. Increases in consumer spending and…
Market Insights- Week Ahead: August 7, 2023
Last Friday, we received July employment data which does not show a slowdown in the economy. Although non-farm payrolls and private payrolls came in slightly below expectations, wages came in…
Market Insights-Fitch Downgrades U.S. Long-Term Rating to AA+ from AAA – What does this Mean for Investors?
The last time U.S. debt was downgraded the S&P 500 fell by 15% but recovered within months. We have been highlighting that equity markets are overbought and could pullback 5%-10%.…
July 2023 Market Outlook
The first half of 2023 had spectacular returns that were not expected as we came into the year. The consensus view was that the first half of the year would…
Economic Perspective | June 2023 Chartbook
According to the Commerce Department, U.S. gross domestic product was revised up to a 2% annualized increase in the first quarter. The government’s third estimate of GDP for the period…
June 2023 Market Outlook
This month, we had Consumer Prices (CPI) and Producer Prices (PPI) come in below expectations right before the Federal Reserve’s decision on interest rates. The Fed elected to go on…
Economic Perspective | May 2023 Chartbook
According to the Commerce Department, the U.S. economy grew at a lackluster 1.3% annual rate from January through March as businesses wary of an economic slowdown trimmed their inventories. Despite…
Economic Perspective | April 2023 Chartbook
According to the Commerce Department, Q1 2023 U.S. real GDP expanded at an annualized rate of 1.1%. However, the headline figure masks diverging trends; private consumption growth surged to 3.7%…
May 2023 Market Outlook
There is an old adage on Wall Street: Sell in May and Go Away – meaning the returns for the rest of the year will be muted. Why would they…
April 2023 Market Outlook
The Federal Reserve has raised interest rates nine consecutive times which triggered a banking crisis and two US banks were taken over by regulators. Meanwhile, there was a forced bank…
Economic Perspective | March 2023 Chartbook
The U.S. economy grew at a slower pace in the fourth quarter than initially estimated as Real GDP increased 2.6% according to the Commerce Department’s third and final reading. However,…
March 2023 Market Outlook
March should prove to be an exciting month for the markets as it will be data-heavy with employment and inflation updates set to be released around the Ides of March.…
Economic Perspective | February 2023 Chartbook
The U.S. economy expanded at a 2.7% annual rate from October through December, a solid showing despite rising interest rates and elevated inflation. The government had previously estimated that the…
February 2023 Market Outlook
We retain our thesis that the Bull is already running – and we offer below a slew of charts as evidence. But that doesn’t mean we’re ignoring the expectations for…