Insights

8 minute read

Rates may be resetting higher but that doesn't mean stocks must suffer.

3 minute read

Evidence suggests the move up in longer yields is nearing an end.

6 minute read

When global investors think Asia, they're increasingly thinking India.

6 minute read

Fed plans to keep interest rates higher for longer.

2 minute read

The Fed opts against raising rates, but doesn't rule out another hike this year.

2 minute read

At the end of the day, it'll be a gift for competitors.

4 minute read

With Growth a crowded and expensive trade, might Value offer better value?

6 minute read

School spending slows while inflation rises.

3 minute read

China's vehicle manufacturers soon might take the global pole position.

8 minute read

Moderating core inflation doesn't ease consumer concerns about everyday prices.

8 minute read

Data point in different directions.

7 minute read

Lots of reasons to expect all-important spending to hold up.

4 minute read

But can the rise in workers' negotiating power since Covid 19 continue?

7 minute read

Unloved sectors may be setting up nicely.

4 minute read

Softer job growth could prevent the Fed from hiking again.

4 minute read

Fed Chair Powell addressed inflation targets and market expectations in Jackson Hole.  

2 minute read

Contrarian approaches may offer a missing piece to investor portfolios.

8 minute read

Let's hope so because massive and growing deficits are spooking markets.

5 minute read

Powell uses Jackson Hole keynote to reiterate Fed’s vigilance to lower inflation.

2 minute read

They've stabilized somewhat but still face pressures.

3 minute read

Spoiler: People remain paramount.

2 minute read

The rapidly developing peninsular country has 3 factors going for it.

8 minute read

And has a lot of firepower left.

9 minute read

Buyable entry point emerging for stocks.

4 minute read

The conditions suppressing the IPO market since 2021 appear to be subsiding.

4 minute read

The evidence so far suggests not a lot. 

6 minute read

The marriage of AI and quantum computers could take things to unimaginable levels.

4 minute read

Electric vehicles face bumps in the road to reach their lofty goals.

3 minute read

Rhetorically speaking, China may have long Covid.

4 minute read

For equity investors, peak pessimism presents potential opportunities.

6 minute read

Payroll growth slows, but wages stay hot.        

3 minute read

Senior Portfolio Manager R.J. Gallo can think of seven reasons.

7 minute read

Its potential, for good and for bad, is just starting to be appreciated.  

4 minute read

The new regulations for money funds don't change their value proposition.   

6 minute read

Fed may remain vigilant.

8 minute read

Might this rally be due for some consolidation?

2 minute read

With the impact of its tightening still not apparent, the Fed opted for another modest rate hike. 

7 minute read

Upgrading year-end S&P target to 5,000 as rocky landing scenario nears end.

7 minute read

Recession odds have fallen.

7 minute read

Might a summer storm lie ahead for investors? 

4 minute read

Consensus has taken a beating but is still standing.

3 minute read

MBS issued by U.S. housing agencies could have advantages for investors if the economy slows.

6 minute read

Waiting for the program to go bust isn’t an option.

7 minute read

It’s Christmas in July for equities. Will the Fed be a Scrooge?

3 minute read

The positives and negatives of the new SEC money market amendments. 

5 minute read

Why we think Japan could finally outperform after three lost decades.

5 minute read

Defensive positioning didn’t hurt the first half. In the second half, it may help.

4 minute read

But strong enough for the Fed to hike yet again.

7 minute read

The first half was a consensus killer; will the second half be one too?

2 minute read

Higher-for-longer rates can be beneficial for dividend strategies.

3 minute read

The markets have finally listened to hawkish Fed speak.

6 minute read

Will tech stocks cool after torrid first-half surge?

6 minute read

Don’t fight the Fed. Don’t fight the tape either.

4 minute read

As global central banks take different paths, where might investors look?

8 minute read

As ‘Rocky Landing’ enters final phases, equity market remains upwardly biased.

5 minute read

Could energy buck conventional wisdom?

5 minute read

The consumer has a lot more firepower than many appreciate.

5 minute read

Dichotomy between nominal and core inflation declines keeps Fed engaged.

9 minute read

If it is, bubbles can last a long time.

2 minute read

The Fed skipped a rate hike but suggested more could come. 

5 minute read

Thanks to ChatGPT, investors want to know how to capitalize on generative AI.

6 minute read

The current U.S. immigration system is an inadequate solution to population decline.

7 minute read

The pain trade is up. The late '90s' parallels are eerie.

3 minute read

Our southern neighbor is firing on all cylinders.

7 minute read

A hot headline increase of 339,000 jobs in May but colder details put Fed in wait-and-see mode.

8 minute read

A very narrow market trading at extremes makes for discomfort.

5 minute read

Spending on discretionary luxury and staples can offer refuge in this environment.

3 minute read

Following the official suspension of the federal debt limit, expect the U.S. Treasury to issue a massive amount of securities.

4 minute read

The office credit market is in trouble, but the broad CRE sector appears healthy.

8 minute read

A strong consumer and robust labor market aren't so fun for the Fed.

6 minute read

Inconsistent economic reports cloud the path of U.S. growth.

4 minute read

The bump in April retail sales belies a deceleration of consumer spending.

7 minute read

Might stocks offering 'growth at reasonable prices' provide refuge?

2 minute read

And the case for bond returns is getting stronger.

8 minute read

Investors grow impatient waiting for the big downturn that may never fully come.

6 minute read

The Fed may be done hiking, but its subsequent pause could last awhile.

8 minute read

That could determine if above- or below-average historical returns are likely.

5 minute read

Downside risks are rising in the current environment.

7 minute read

Barring the emergence of more bullish data, we expect the Fed to pause rate hikes this year.

3 minute read

Opportunities as varied as countries that fall under the emerging markets umbrella.

6 minute read

Looming risks make it hard to assess where markets go next.

2 minute read

The Fed raised rates again, but hinted it soon might be time to take a breather.

4 minute read

What's behind the substantial rise in assets of money market vehicles?

6 minute read

GDP growth slows, but inflation remains elevated

5 minute read

With volatile markets ahead, stocks enter a period of limbo.

8 minute read

With so many mixed messages, no wonder investors are confused.

4 minute read

Is the debate much ado about nothing or a slow-moving train wreck?

8 minute read

Slower growth and stubborn inflation argue for patience and selectivity.

7 minute read

We see GDP growth slowing over the balance of 2023.

7 minute read

Perils lurk but so does the potential for upside surprises.

5 minute read

Volatile markets can offer opportunities.

7 minute read

Fed rate hikes finally may be starting to bite.

8 minute read

Mounting clues that the economy has reached a turning point.

7 minute read

Maintaining cautiously constructive stance amid confusing outlook.

3 minute read

As the global panic subsides, patient investors may find opportunities.

3 minute read

The Federal Reserve’s dual function as regulator and policy-setter has been on display.

5 minute read

Should investors buy the dips or sell the rips as we approach earnings season?

7 minute read

For as long as the economy is stronger for longer.

2 minute read

Evaluating nonfinancial factors contributing to the fall of Silicon Valley Bank.

6 minute read

Will the Federal Reserve pivot from its fight against inflation?

7 minute read

Not all regional banks are caught up in the turmoil. 

3 minute read

Fed Chair Powell made the case for another quarter-point hike amid the banking turmoil.

6 minute read

Simmering post-pandemic issues are raising the temperature.

8 minute read

Rapid rate increases exposing issues that were hidden when rates were low.

6 minute read

Silicon Valley Bank's 'Perfect Storm' unlikely to deter Fed.

3 minute read

But banking issues brought to the fore this week are discomforting.

6 minute read

The Fed’s response to the collapse of SVB puts pressure on the Treasury and the FOMC decision next week.

6 minute read

Weakening confidence should give Fed the slowdown it wanted.

7 minute read

The beats (hawkish Fed, strong jobs, surprise bank failure) keep coming.

2 minute read

The still hot labor market all but ensures the Federal Reserve stays aggressive.

12 minute read

Standard models and frameworks are less useful in rocky landings.

3 minute read

The recent pullback after a strong start to ’23 may be just a breather.

7 minute read

As Linda discusses inflationary '70s, a guest wonders if the Mister is with her.

7 minute read

U.S. equity and fixed-income markets are pointing in different directions.

4 minute read

Investors have begrudgingly capitulated to a still-hawkish Fed.

3 minute read

Supply and demand dynamics are supporting the municipal bond market.

6 minute read

The tragic Russia/Ukraine war could keep energy prices and inflation elevated.

7 minute read

As long as Americans keep spending, higher for longer may rule the day.

5 minute read

The global economic picture is setting up to look a lot like last year's.

7 minute read

The only good news is both seem much closer to a better future.

5 minute read

It starts with China. Other forces also are at work.

5 minute read

Combined with persistent inflation, Fed likely to remain vigilant.

7 minute read

Inflation, consumer strength move bonds closer to the Fed. Stocks still keeping some distance.

3 minute read

The economy is facing stronger headwinds than the markets realize.

8 minute read

Audiences pondered this market, and Linda's chauffeur, in her travels this week.

3 minute read

Signs suggest Europe’s economy might avoid a serious downturn.

6 minute read

Fundamentals suggest stocks could correct in the coming months before rallying into year-end.

3 minute read

And that's creating challenges for fixed-income positioning.

5 minute read

We're probably not yet at a "just right" stage for stocks, especially of the growth variety.

7 minute read

The surge of hires in January likely keeps the Fed in hawk mode.

7 minute read

Bulls looking past the crosscurrents … for now.

3 minute read

The market is dismissing the Fed's determination to defeat inflation.

6 minute read

Decent headline gross domestic product growth belies weakness in several core components.

8 minute read

Can the equity rally survive deteriorating fundamentals, a tight-as-a-drum job market and inverted yield curve?

3 minute read

An improved high-yield asset class might not flash the same signs for reentry as in past economic downturns.

2 minute read

Rancor aside, with ‘extraordinary measures’ the debate over the U.S. debt limit has time to be resolved.

8 minute read

In volatile markets, stock picking and picking your spots may offer investors the best options for returns.

Inflation cooling but labor market remains healthy.

5 minute read

2022 was all about rates; this year is more nuanced.

7 minute read

2022 was tough. 2023 will have its challenges but be perched for opportunities.

Three things to watch in 2023.

5 minute read

Two market indicators suggest equities could enjoy a better year. 

7 minute read

Modestly more constructive on stocks as rocky landing approaches final phase.

Three things to watch in 2023.

8 minute read

A flush consumer could make for a slow-cession instead of a recession.

6 minute read

But the ISM services decline was a bigger story.

Three things to watch in 2023.

Three things to watch in 2023.

Three things to watch in 2023.

8 minute read

Looks like 3 decades of disinflation are coming to an end.

Three things to watch in 2023.

Three things to watch in 2023.

4 minute read

An earnings and Fed Catch-22 could keep S&P range-bound for coming months.

Consumers are showing restraint amid still-high inflation.

The Fed pushes back against market expectations.

Three things to watch in 2023.

2 minute read

Three things to watch in 2023.

A quick visit lifted spirits. Will Santa do the same for the markets?

7 minute read

The U.S. economy is slowing across the board.

The Fed can't like the strong job growth and surge in wages in November.

You have to ask: is he here to hurt or help?

FOMC voters must stick to the data to make their next decision on rates.

Municipal securities have much to offer if the economy slows.

10 minute read

2023 outlook to us looks like more of the same as "rocky landing" proceeds.

But it's a lot more expensive this year.

Not until the stimulus stockpile is gone. But what then?

Perhaps. But the focus should be on quality.

Mix shift in retail spending points to slower economic growth.

Many reasons for a rally but don't expect it to last.

Wide corporate bond spreads are enticing, but the time to add to credit sectors hasn't come yet.

Republicans fail to achieve expected midterm election gains.

8 minute read

Maybe everyone, including markets, could use a little boring.

A weakening dollar and other trends bode well for EM debt.

Yes, but recent actions have raised the risk.

Solid week of employment data keeps Fed aggressive.

7 minute read

And it doesn't look like the Fed is planning one anytime soon.

Fed Chair Powell indicates the pace of hikes is not as crucial as arriving at the right place.

Remaining defensive as 2023 consensus on earnings and Fed remains too optimistic.

3 minute read