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-Mid-Term Elections in the US are set for November 8th, with Democrats holding narrow control of Congress in addition to the Presidency -Each of the 435 House of Representative seats and 35 of 100 Senate seats are up for re-election -History suggests that the party of the newly elected President

Rates The FOMC voted today to raise the Federal Funds rate to a range of 3.00 – 3.25%, a 75 basis point increase. This decision was unanimously supported by the 12-member rate-setting committee and was also in-line with market expectations. The decision for a 75 bps hike followed four consecutive

U.S. Equity The Energy sector led Q2 S&P 500 earnings growth, up 6.7% YOY. Excluding Energy, the S&P would be reporting an earnings decline of 3.7%. On a calendar year basis, earnings growth has increased 8.9% on the whole but excluding Energy is only up 2.4%. From a sector return

Equity markets have rallied since we last shared commentary with you on June 20th with the S&P 500 increasing 9.2% in the month of July. Investors are asking the question of whether this is a “bear market rally” that will return to its downward trend in the near future, or

Rates The FOMC voted yesterday to increase the federal funds target rate by 75 basis points to a range of 2.25 – 2.50%. This decision was unanimous despite some prior reporting in the press that Kansas City Fed President Esther George might dissent from the decision as she had at

As market volatility continues this year, we find ourselves reflecting on the words of Warren Buffett: “If you aren’t willing to own a stock for 10 years, don’t even think about owning it for 10 minutes.” The tide has gone out the first half of 2022.  Stocks are in the

Rates The FOMC voted yesterday to raise the Federal Funds rate to 1.50 – 1.75%, a 75 basis point increase. This was a 10-1 decision as Kansas City Fed President, Esther George, dissented in favor of a 50 basis point move. The last time the Fed raised rates by 75