The second quarter of 2020 started with a bang. The Federal Reserve’s moves to support the markets during the quarter enabled the Dow to climb over 17%, the S&P over 20% and the Nasdaq to record all-time highs climbing over 30%. While the 10 and 30-year US treasury yieldsbarely budged, LQD the Investment Grade […]
The global equity markets began 2020 with a bang. New equity market highs were seen into late February. Not since December of 2018 have we seen such selling with a vengeance. The equity markets took three weeks to fall 16% in December of 2018; in March 2020, it took only six trading days.
For the […]
The fourth quarter was the polar opposite of 2018’s fourth quarter as the global equity markets rallied. The FOMC added liquidity to address problems in the repurchase market. There appeared to be progress in the US/China trade war. The global fixed income markets however, paused their rally as the total amount of negative […]
After suffering steep declines in the fourth quarter of 2018, US equity markets closed the first half and second quarter of 2019 at or near all-time highs. The global rally in fixed income markets continued as well. For the quarter ended June, the Dow Jones Industrial Average was up 3.21%, the Standard & […]
Last year was arguably one for
the records books given the intense volatility during the fourth quarter. Despite
the US equity markets closing at all-time highs in late September, most asset
classes ended the year on a negative note. The S&P 500 delivered a total return of negative
4.39%; the Dow Jones Industrial Average was down 3.48%; the […]
For most people, summer is the best time of the year. For investors, it may have been particularly a pleasant one as markets roared ahead. The vibrant health of the overall market and economy during the quarter may have gotten lost due to the news headlines during the last week of September […]
For much of the second quarter, the markets could not decide whether it was time to panic and retreat or not. Despite many negative headlines, it was a challenge to clearly and emphatically determine a risk factor that justified a general move to safety in the markets. On the flip side, with […]
The title of the first quarterly letter for 2018 ponders the obvious question about the financial markets. Indeed, the long lasting “honeymoon” between President Trump and the U.S. equity markets seems to be over, with the Dow Jones Index down roughly 12% between the high on January 26th and the recent low on […]
With the first year of the Trump Administration now history, we take a step back to assess the state of the markets and discuss the outlook for 2018. Markets roared ahead for the year ending December 31st, 2017: the S&P 500 delivered a total return of 21.83%; the Dow Jones was up 28.11%; the […]
As the second half of the year kicked in, markets continued to show resiliency and moved higher despite plenty of negative news — the confluence of hurricanes, floods, earthquakes and wildfires, a brewing international confrontation, terrorist incidents in London, Marseilles and Barcelona, just to name a few. Markets seemed particularly vulnerable to the […]
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