2019 saw some significant events that reinforced the trend in place since 2009 and increased anxiety that the end is near, yet confirmed the market’s ability to climb a wall of worry.
Moments ago, House Speaker Nancy Pelosi (D-Calif.), flanked by the chairs of the committees of jurisdiction over the House’s impeachment inquiry over the last several months (Oversight, Intelligence, Ways and Means, Financial Services, and Judiciary) announced her intention to have the House consider two articles of impeachment against President Trump. I thought I’d provide a quick primer on what’s happened this morning and what we can expect in the days and weeks ahead.
In many ways, the macro outlook is brighter today than it was one year ago as economic growth is solidifying, trade and monetary policy risks have receded and sentiment has improved. Yet, we think market returns may be lower over the coming year and decade compared to what we experienced in the past. It will continue to be a challenge to construct outcome-focused investment portfolios.
U.S. Treasury yields moved higher last week, led by longer maturities. Markets focused on potential tariff increases on December 15th, but found comfort in better-than-expected U.S. economic data. All eyes will be on the Federal Reserve (Fed) later this week, although expectations are for no change in the fed funds rate.
Economic data was uneven last week, and investors continued to focus on the on-again, off-again prospects for a U.S./China trade deal. Global stock markets were mixed, and the S&P 500 Index climbed very modestly, ending just below its all-time high.
Whether we like it or not, the month of December is often all too synonymous with to-do lists. Checklists that are full of presents to buy, groceries for hosting holiday get-togethers, and items to pack for a family winter vacation all remind us of how truly hectic it can get during the winter holiday season.
Combining sustainable investing and fixed income has the potential to deliver attractive long-term returns while delivering positive change. However, there are risks with doing so in a naïve way. Here’s how to avoid them.
We see a big shift in the macro environment in the year ahead – as the dovish monetary policy pivot of 2019 fades as a market driver. We detail these views in our 2020 Global outlook.
One needn’t be a fan of Ant-Man and The Wasp to appreciate small things can pack a powerful punch. As it is with superheroes, so it is with stocks.
I grew up in the New York City area in the 1980s. My dad always read the tabloids, and so I started to do so as well.
Domestic equity markets ended the month with positive returns, reaching new all-time highs on November 27 on the back of positive news of a potential trade deal agreement between the US and China. Equity markets consistently appreciated throughout the month, with reduced volatility as the Cboe Volatility Index fell to 11.75, a level not seen in more than a year and a half.