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Global Economy: Amid ongoing economic and geopolitical uncertainty, financial markets continued to climb the proverbial wall of worry in October. As prominent equity benchmarks achieved all-time highs, fixed income markets reacted to broad policy accommodation with steeper yield curves and a bias to quality. Concerns of global manufacturing weakness spilling

Policy Easing Continues: Following the mid-cycle adjustment that took place in July and an insurance cut in September, the FOMC delivered its third consecutive monetary policy modification. With a vote to reduce the Fed Funds rate by another 25 bps, the targeted range now stands at 1.50% to 1.75%. As

Please find the next blog in our monthly series that provides a review of the prior month’s market data, the state of the economy, and the global financial markets. Global Economy: Shaking off continued geopolitical uncertainty, investors provided a renewed bid for risk assets in September. Accordingly, global equities advanced

Policy Normalization on Target: In spite of one member voting for a 50 bps reduction and two members voting for no change, the FOMC voted to reduce the Fed Funds rate by 25 bps to a targeted range of 1.75% to 2.00%. As has been the case for recent meetings,

Please find the next blog in our monthly series that provides a review of the prior month’s market data, the state of the economy, and the global financial markets. Global Economy: Uncertainty and volatility ruled the month of August, with globally depressed interest rates, US/China trade issues and the increased

Please find the next blog in our monthly series that provides a review of the prior month’s market data, the state of the economy, and the global financial markets. Global Economy: Markets maintained risk-on momentum in July, even as the Federal Reserve’s rate cut left investors questioning the degree of

Background When Congress passed Section 401(k) of the Revenue Act of 1978 they began a revolutionary risk-transfer as it relates to retirement savings. With employers increasingly embracing the cash flow predictability of defined contribution plans, the percentage of private-sector employees covered by a defined benefit plan has declined from nearly

Policy Pivot Underway: Heralded as the most important meeting of the year, the FOMC was fully expected to cut the Fed Funds rate for the first time since October 2008. In direct opposition to the negative outcomes triggered by hawkish concern this past December, the ~10% rally we’ve seen in

As of June 30, 2019, the official U.S. unemployment rate resides at 3.7% which is very near the lowest in 50 years, as 21.5 million new jobs have been added in the last decade. This rate is well below the Federal Reserve’s longer run projected rate of 4.2% which has

Please find the next blog in our monthly series that provides a review of the prior month’s market data, the state of the economy, and the global financial markets. Global Economy: Financial assets across the board performed well in June, capping a very strong first half of 2019. While global