When you think of the top 1 percent of all income earners in American households, how much do you think this group rakes in? Millions? Tens of millions? What about the top 10 percent?
The rapid growth of local government debt in China is a potential threat to the country’s financial stability. At the root of the debt problem is a severe fiscal imbalance that is driven by domestic politics.
I am often asked by prospects whether financial advisors add value. Being one, of course, I believe we add a great deal of value for clients…In many cases, and especially when the markets become increasingly unpredictable, our most valuable advice may simply be encouraging clients to follow good investment practices.
A review of last month’s market-moving events across countries and asset classes.
A brief monthly update on what's happening in the municipal bond market.
Given that we are in the later stages of this economic cycle, with factors such as increased trade tensions and geopolitical uncertainty at play, we do expect greater volatility may be ahead. But it’s important to remember that experiencing these ups and downs is a normal aspect of our market environment.
Uncle Sam has made too many promises to too many people, with little regard for its future ability to fulfill them. These are debt. Worse, some of them are additional debt on top of the obligations we already see on the national balance sheet. Even worse, entire generations have planned their retirement lives around the government fulfilling those promises. If those promises aren’t met, their lifestyles will indeed become a potential train wreck.
We’re about nine years into the economic recovery following the Great Recession. It’s been an extraordinarily profitable period for the stock market—one of the best in U.S. history—and I hope you’ve participated.
Responsible Investing is a relatively new concept in the municipal bond market, but we believe it's well-suited to a market that finances entities and projects intended to serve the public good.
The U.S. inflation story made further inroads this month, with year-over-year price growth for consumers and producers alike hitting multiyear highs. U.S. consumer prices expanded at their strongest pace in more than six years, climbing to an annual change of 2.8 percent in May. Prices for final demand goods, meanwhile, grew 3.1 percent, their strongest annual surge since December 2011.