KEY TAKEAWAYS Policy uncertainty remains high, particularly around trade. While it is good news that an agreement was reached with Mexico over the weekend to avoid those tariffs, a trade deal with China is unlikely until more economic pain is incurred by both China...
KEY TAKEAWAYS Worrisome signals from the bond market contributed to stocks’ first monthly decline of 2019. While we expect rates to end the year solidly above current levels, until we get some good news on the trade front, rates are likely to remain stubbornly low. If...
KEY TAKEAWAYS Our Five Forecasters are collectively indicating that further economic growth and stock market gains appear likely This economic cycle is about to turn 10 years old, but we see reasons it can continue. We take a look at market breadth and stock...
KEY TAKEAWAYS We consider first quarter earning season a success based on the upside surprise and resilience of estimates for the rest of this year. It appears an earnings recession has been averted and better earnings days lie ahead, though trade uncertainty is a...
COMPASS CHANGES Lowered long-term muni view from Neutral/Positive to Neutral INVESTMENT TAKEAWAYS With the S&P 500 Index near our year-end fair value target of 3,000, coupled with the slightly softer economic and profit growth outlook, we believe a market weight...
KEY TAKEAWAYS Escalating U.S.-China trade tensions caused stocks to sell off more than 2% last week. Globally exposed sectors paced last week’s declines, namely materials, industrials, and technology. The maximum peak-to-trough decline of less than 3% so far this year...
