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Restoring the Foundation in Fixed Income

Overview What’s happened with rates? Following more than a decade of low rates, Fed rate hikes in 2022 have pushed nominal yields up to levels investors haven’t experienced since the years immediately following the Global Financial Crisis. Rising rates have delivered historic losses to rate-sensitive assets in traditional fixed income

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Market Snapshot for November 2022

Economic Overview Market Returns Asset Class Valuations Key Risk Factors We Are Watching Disclaimers: The views expressed herein are those of Asset Consulting Group (ACG). They are subject to change at any time. This report was prepared by ACG for you at your request. Although the information presented herein has

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Market Snapshot for October 2022

Please find the next blog in our monthly series that provides a snapshot of the markets and the state of the economy. Economic Overview US GDP grew at a better than expected annual rate of 2.6% in Q3 following two straight negative quarters US inflation surprised to the upside with

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November 2nd  FOMC Follow-Up

Rates The FOMC voted today to raise the Federal Funds rate to a range of 3.75 – 4.00%, 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. This vote is for the fourth consecutive 75 bps hike

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Market Snapshot for September 2022

Please find the next blog in our monthly series that provides a snapshot of the markets and the state of the economy. Economic Overview At its September meeting, the US Federal Reserve hiked the Federal Funds rate 75 bps to 3-3.25%, the third consecutive hike of that magnitude The August

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2022 US Mid-Term Elections

-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

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September 21st  FOMC Follow-Up

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

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Market Snapshot for August 2022

Please find the next blog in our monthly series that provides a snapshot of the markets and the state of the economy. Economic Overview Inflationary pressures slowed as US Headline CPI eased to 8.5% vs. prior month’s 9.1% Labor markets remained tight with unemployment declining to 3.5% and nearly 2

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Public Market News and Trends for August 2022

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

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Update on Current Market Conditions

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

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Market Snapshot for July 2022

Please find the next blog in our monthly series that provides a snapshot of the markets and the state of the economy. Economic Overview US GDP declined 0.9% in the second quarter after falling 1.6% in the first quarter, but not yet officially a recession US headline CPI surged 9.1%,

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June 27th FOMC Follow-Up

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

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