The S&P 500 has generated double digit returns so far in 2023, but the gains have been narrowly focused. Heading into the second half, we will be watching to see whether the rally broadens or the market capitulates.
The Fed is executing its playbook according to plan – get interest rates up quickly, keep tightening albeit at a more moderate pace, and then hold rates steady to allow real rates to nudge higher as inflation recedes.
Investors with $250,000 or more to spend on municipal bonds are increasingly seeking opportunities to pick and choose what goes into their portfolios.
Dial into any bank earnings call these days and you will hear lots of talk about “deposit beta.” The phrase came up 29 times in the presentations following results from four of the largest US banks last week. A metric that analysts have tracked for years has hit the mainstream.
Japan may uniquely benefit from a wage-price spiral.
Falling airfare prices in the U.S. don’t appear to have any effect on airlines’ revenue, according to Goldman Sachs. In fact, Delta just reported record revenue and profits in the June quarter.
The next time someone expresses a firmly held opinion about homelessness, ever so gently recommend that they read Homelessness is a Housing Problem. The more people who read this book, the closer we’ll be to a solution.
Earnings reports on Friday showed Citigroup Inc., JPMorgan Chase & Co. and Wells Fargo & Co. gained big time from their size and the extra support the Federal Reserve injected into the banking system in March.
Whether you are examining the evolution of the US economy or the impact of monetary policy, one of the noteworthy developments this year is not what has happened but rather what has not.
Investors loading up on long-term bonds have a history at their back.
Nikko Asset Management presents an analysis of global market trends, offering insights into the surprising performance of equities and the resilience of the global economy to date.
Ed Mills, Managing Director, Washington Policy, discusses how recent U.S. policy decisions are the foundation for an industrial renaissance aimed at building up the economic base and protecting it against certain geopolitical and supply chain risks.
VettaFi’s Fixed Income Symposium, happening on July 24th, is fast approaching. The symposium will bring together industry thought leaders.
As summer temperatures peak, inflation just won't completely cool down. The question is how much more the Federal Reserve should do about it.
JPMorgan Chase & Co.’s revenue soared to a record in the second quarter, boosted by the Federal Reserve’s interest-rate hikes and its acquisition of First Republic Bank.
The US Federal Trade Commission has opened an investigation into OpenAI Inc., questioning whether its popular ChatGPT conversational AI bot puts consumers’ reputations and data at risk, according to a person familiar with the matter.
Investors have more investment options than ever before, thanks to the number and variety of exchange-traded funds available to everyone. Think of an investment strategy, and it’s probably available in an ETF.
With inflation still front and center and tight labor markets, how will central banks react to the challenging market environment?
Bonds rallied for a second day as traders bet an aggressive streak of global interest-rate hikes is close to ending, bolstered by optimism that inflation in the world’s biggest economy will continue to slow.
While this is a market estimate and in no way guaranteed, let’s just pretend for a minute that there is a 100% chance of this coming true and the FOMC is going to raise the Fed Funds rate by an additional 50 basis points.
Now that short-term Treasury yields have reached 5%, further upside is likely to be limited.
Does stock risk decline the longer the holding period is? It’s a great question and something I received a comment about.
The bond market’s re-energized bulls may want to dial down their excitement because their fortunes hinge on whether an abstract, almost elusive number, is as low as they assume.
The dollar has defied predictions of a prolonged slump since at least the beginning of the year but top money managers say it’s now on borrowed time as US exceptionalism wanes.
Millions of young Americans will face the end of the student loan payment moratorium this summer. Why is this happening now, after a three-year break from payments?
What a year it has been for financial markets. There have been several negative factors in play, including a high-single-digit inflation print, the ongoing war in Ukraine, and several regional bank failures. Nonetheless, the S&P 500 finished the second quarter up 17 percent for the year. Go figure!
Municipal bonds posted positive absolute and relative performance in June. Modest primary and secondary supply was outpaced by improved demand. While July has historically been a top-performing month, we maintain some near-term caution.
Chief Economist Eugenio Alemán and Economist Giampiero Fuentes note that while it is taking longer to bring inflation down, the Fed will continue to conduct monetary policy to reach its target rate.
It will be increasingly important to consider the best ways to connect with and support Gen Z as they make some of their biggest financial decisions.
One way to deal with the current global economic uncertainty is to search for consistent and reliable indicators to help you navigate the chaos. Another way is to focus on some time-honored verities about savings and human capital.
Investors will not be willing to pay an above-average valuation for what will seem like below-average profit growth.
Formed in 2017, the firm is headed by ETF visionaries Bruce Bond and John Southard, founders of PowerShares ETFs, one of the largest ETF providers in the world.
Drawing on data from LOGICLY, this article will dive into the Treasury ETFs that boast the highest YTD inflows, shedding light on some of their standout features and key characteristics.
Factor investing can help drill through broad sector labels to help investors better understand past performance and expected returns.
Chief Economist Eugenio J. Alemán discusses current economic conditions.
Led by the Federal Reserve’s campaign of increasingly large hikes, interest rates have risen meaningfully year-to-date. Conventional wisdom would guide investors to sell fixed income — a reflection of one of the most fundamental relationships in the investment world: as rates go up, their investments go down.
Higher expected corporate earnings mask broad pressure under the surface. We see more earnings pain ahead and look for opportunities at the sector level.
Income-driven repayment will ease the burden of resuming student loan payments.
VettaFi’s coming Fixed Income Symposium is timed to go live just days before the next FOMC meeting. The Symposium goes live on the 24th and the next FOMC meeting is scheduled for July 25th – July 26th.
Investors seeking higher yields and relatively low risk, and are willing to sacrifice liquidity, will find attractive opportunities in interval funds that invest in senior-secured, sponsored middle-market loans.
I discuss recent regime changes and reveal findings from the SPIVA scorecard and Morningstar’s U.S. Active/Passive Barometer.
The world’s sovereign investors are seeking to boost investment in bonds as yields rise, while a freeze on Russian assets has increased their demand for gold, Invesco Ltd. said in an annual report.
Shifting the risk-reward ratio in your favor.
Low commodity prices are containing inflation in emerging markets.
Given attractive yields and strong credit conditions, we have a positive view on the municipal bond market for the second half of the year.
Diversity, equity, and inclusion (DEI) practices drive growth and groundbreaking innovation. As business change accelerates, deploying intentional DEI actions develops diverse thinking and new ideas that can break new ground and build business resiliency.
The cognoscenti may have been too quick to declare the end of the Great Resignation.
Corporate credit has failed to live up to lofty expectations of double-digit returns so far this year, fueling a string of bearish bets into the second half of 2023.
For over a decade, emerging markets (EMs) have been full of promise—and disappointment. Year after year, investors have waited for the powerful growth trends of the past that drove developing markets from Mexico to Malaysia to reassert themselves.
US Treasury Secretary Janet Yellen said competition between the world’s biggest economies is not a “winner-take-all” situation and called for both sides to manage their rivalry with a fair set of rules.
