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The Morning View: July 11, 2024

 Announced this morning, the headline Consumer Price Index (CPI) decreased -0.1% in June, less than expected and one-tenth less than the previous month.  On an annualized basis it grew 3.0%, less than the annualized figure from the previous month.  The core rate,...

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Market Update-July 2024

Second Quarter Market Recap In the second quarter of 2024, the U.S. economy stayed resilient in an environment where inflation and interest rates remained higher than expectations. Tighter monetary policy was offset by accommodative fiscal policy, and a still-strong...

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Fixed Income Update – July 2024

2nd Quarter 2024 Review • At the most recent FOMC meeting in June, Fed officials signaled that they expected just one 25 basis point cut in 2024; however, the Fed Funds Futures market is poised for two 25 basis point cuts this year • Interestingly, the FOMC raised its...

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The Morning View: July 5, 2024

 Announced this morning, the economy added 206,000 jobs in June, more than expected and the previous month was revised lower.  The Health Care and Social Assistance industry and Government jobs were relatively strong, while the Retail Trade industry and Temporary...

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Investment Outlook – July 2024

Two Percent The Federal Reserve, as well as the European Central Bank, have famously promoted 2% as the optimal and desired rate of inflation for the economy, one that strikes the perfect balance between stable prices and full employment, the primary goal of the...

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The Morning View: June 28, 2024

 In this morning’s data, the PCE Deflator was flat in May, as expected, and was up 2.6% on an annual basis, one tenth less than the annual figure from the previous month. The Core PCE Deflator, which excludes food and energy prices and is closely monitored by the...

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Market Perspective- June 2024

On a year-to-date basis, the major market indexes are at, or near, their all time highs. The S&P 500 is up over 14% and Nasdaq, over 18%. Within the business surveys, the ISM Services PMI index is one of the few that highlights a relatively strong business...

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The Morning View: June 20, 2024

In this morning’s data, Housing Starts were 1,277,000 in May, less than expected and a -5.5% decrease from the previous month.  Building Permits were also less than expected at 1,386,000 in May, which is a -3.8% decrease from the previous month.  Also announced this...

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Post-FOMC Thoughts – June 12, 2024

Leading up to Today’s Decision Markets reacted very positively to the May CPI numbers that came out this morning. On a month-over-month and year-over-year basis, for both Core and Headline CPI, each figure was below expectations and below the prior month’s data. Going...

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Market Update-June 2024

  The Month At-A-Glance After falling 4% in April, U.S. equities rebounded with a gain of 5% in May All three major U.S. equity indexes—the Dow Jones, Nasdaq, and S&P 500—hit new all-time highs Positive returns were widespread across different asset classes—with...

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