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Policy and Regulatory Commentary
Economic Indicators Suggest President Trump's Reelection
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In testimony on Capitol Hill this week, Federal Reserve Chair Jerome Powell repeatedly praised the strength of the U.S. economy across multiple indicators. He pointed to an historically-low unemployment rate, rising wages, and continual, moderate overall growth. Powell has a notably turbulent relationship with President Donald Trump, but his assessment should have been music to the ears of top White House and Trump campaign officials (even if the president could not help live-Tweeting his criticism of Powell’s testimony). The economy, after all, is historically perhaps the most reliable presidential election indicator.
Market Outlooks
Market Week in Review: Coronavirus and the global economy: Stimulus to the rescue?
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On the latest edition of Market Week in Review, Senior Portfolio Manager Megan Roach and Research Analyst Brian Yadao discussed the latest coronavirus developments as well as recently released European macroeconomic data. They also chatted about U.S. Federal Reserve (the Fed) Chairman Jerome Powell’s testimony before Congress, and provided an update on fourth-quarter earnings season.
Market Outlooks
Weekly Market Snapshot: February 14, 2020
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Read the Weekly Market Snapshot to stay up-to-date with stock markets and sectors, bond market returns and financial news for the week.
Fixed Income Insights
Beyond the Index – IG Credit: The Hidden Risks of “Safe” Bond Strategies
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Traditional investment grade bond strategies are meant to help their owners sleep at night. But hidden credit and interest rate risks make benchmark-hugging more hazardous than many realize. Counterintuitively, CLOs, ABS and EM debt may be part of the solution.
Fixed Income Insights
Treasury yields rise on global health optimism
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U.S. Treasury yields rose last week, led by 5-year maturities. Investors were optimistic over Chinese efforts to contain the coronavirus, along with stronger-than-expected U.S. economic data, pushing yields higher and prices down. Market expectations for Federal Reserve (Fed) rate cuts in 2020 fluctuated during the week, ending at approximately 1.5 cuts through the remainder of the year.
Market Outlooks
PMC Weekly Market Brief - February 10, 2020
PMC Weekly Market Brief: February 10, 2020
Fixed Income Insights
Weekly Fixed Income Commentary: Treasury yields rise on global health optimism
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U.S. Treasury yields rose last week, led by 5-year maturities. Investors were optimistic over Chinese efforts to contain the coronavirus, along with stronger-than-expected U.S. economic data, pushing yields higher and prices down.
Market Outlooks
Weekly Market Compass: Three key takeaways from the Fed’s Monetary Policy Report
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In last week’s blog, I noted that what I would be following most closely that week was the release of the Federal Reserve’s Monetary Policy Report, because it provides insight on what the Fed is thinking. On Friday, the Fed released this semi-annual report in advance of Fed Chair Jay Powell’s Humphrey-Hawkins testimony before Congress on Feb. 11 and 12.
Market Outlooks
Weekly Investment Commentary: Stocks bounce back amid coronavirus fears
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The ongoing coronavirus crisis dominated financial headlines last week, although investors also focused on the positives of continued solid corporate earnings, good economic data and the U.S. political backdrop. On balance, the good news won out last week, as equities rebounded following two weeks of more than -1% drops in the S&P 500 Index to rise 3.2%, the best weekly performance since last June.