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Is History Any Guide?  We find ourselves in the fall of 2020 preparing for a general election with a historically unique set of circumstances: a global pandemic, an economic recession, the fastest equity market correction (and subsequent recovery) on record, multiple natural disasters, and social unrest. And if that wasn’t

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: The pace of recovery has slowed over the summer with an increase in infections, but high-frequency economic data continues

Rates In its last scheduled meeting before the US presidential election, the FOMC voted to keep the Fed Funds target rate unchanged within the 0.00% to 0.25% range. This outcome was widely expected. Two members of the committee voted against the decision on the basis of differences with longer-term policy

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: Economic data is reflecting a slowdown in the pace of recovery following an increase in US virus cases and

Summary of the Fed’s Statement: As expected, rates were held steady and the Fed reaffirmed its dovish forward guidance. The statement was largely unchanged from the June edition, acknowledging the pick-up in economic activity but noting “The path of the economy will depend significantly on the course of the virus.”

Background 2019 closed out another year of US equity (S&P 500) outperformance vs. its non-US counterpart, (MSCI ACWI ex US). In fact, the S&P 500 has outperformed the MSCI ACWI ex US index in eight of the last ten calendar years. This persistence may lead investors to question the relevance

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: Economic data is reflecting a recovery from the pandemic lows, supporting continued risk-asset strength. Nonetheless global optimism may be

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: While economic data continues to reflect the extreme impacts of the COVID-19 pandemic, global markets remained tilted toward optimism

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: Relative to the historic second half of March, markets appeared comparatively calm throughout April. Alongside that reduction in volatility