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Market Update – 1st Quarter Review and Outlook for a Post-Pandemic Economy
As the US ramped up its Covid-19 vaccination campaign, stocks rallied strongly in the first quarter. The S&P 500 posted a solid 5.77% gain. Bonds, meanwhile, were down as inflation fears began to have an impact. With a post-covid economic recovery in sight, investor enthusiasm has lifted stock prices in anticipation of significant earnings improvement.…
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Market Update – Post-Election Outlook
The election has passed and although the outcome remains contentious, we are edging closer to the electoral vote on Dec 14 and certification of the final outcome. The market has posted solid gains since Nov 3 and appears to be looking past election uncertainty and factoring in expectations of economic recovery in light of covid-19…
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Market Outlook: New Year – New Decade
As the trade dispute with China seems to be moderating, the Fed in December maintained its federal funds rate target at 1.50 – 1.75%. After raising rates nine times since 2015, the Fed reversed course this year and cut rates three times. It also indicated it did not expect to make any change to its…
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Market Outlook
Against the backdrop of a continuing trade dispute with China and a slowing economy, the Fed lowered its federal funds rate target by another quarter point at its October 30 meeting. The target rate now stands at 1.50 – 1.75 percent. After raising rates nine times since 2015, the Fed reversed course this year and…
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3rd Quarter Market Commentary – The Fed Speaks
Against the backdrop of an intensified trade dispute with China and a softening economy, the Fed lowered its federal funds rate target by another quarter point at its September 18 meeting. The target rate now stands at 1.75 – 2.0 percent. After raising rates nine times since 2015, the Fed reversed course this year and…
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Inversion Confusion
On August 14, the classic inverted yield curve (10-year treasury yields lower than 2-year treasury yields) reared its ugly head for the first time in over a decade. Since then it has flashed warning signs several times. So far the inversions have only occurred temporarily on an intraday basis with the inversion ending before the…
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Portfolio Manager Commentary
Our outlook at the moment is “cautious”. Many factors are leading us to take this approach with our investment portfolios: • The Trump administration ratcheted up tensions with Iran by threatening retaliation against the alleged Iranian shootdown of a U.S. drone over international waters. • U.S. Treasury yields are down in anticipation of a rate…
Jon Chatfield
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