Market Reactions
Ukraine
February 28, 2022
The deaths of innocent civilians and the soldiers defending Ukraine are foremost in our minds as we write this weekend’s CIO Bulletin.
Russia’s War Against Ukraine Changes the Economic Landscape
February 25, 2022
The deaths of innocent civilians and the soldiers defending Ukraine are foremost in our minds as we write this weekend’s CIO Bulletin.
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Geopolitical Risks Rise
February 24, 2022
On February 21, Russian President Vladimir Putin signed decrees recognizing two regions in the east of Ukraine, Donetsk and Luhansk, as independent republics and ordered Russian troops in the area. President Putin has demanded that Ukraine be demilitarized and give up its NATO ...
Fast Money Out, Wise Money Steady
January 24, 2022
The Fed’s policy communications showed impatience with the present inflation backdrop and a desire to tighten monetary policy more quickly.
What's Nu? Portfolio Strategies for the Omicron Variant
November 29, 2021
The identification of a new COVID variant ("Omicron") with a large number of spike protein mutations drove world financial markets sharply lower on Friday. It will take several weeks to understand the virulence, transmissibility and immunity-escaping profile of the variant.
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The Fed Decides to Taper
November 3, 2021
As widely expected, the Federal Reserve decided to taper its monthly bond purchases by $15 billion each month ($10 billion in Treasuries and $5 billion in agency mortgage-backed securities).
The Delta Drop
July 19, 2021
For the past year or so, the winds have largely been blowing in one direction with both U.S. gross domestic product (GDP) and the S&P 500 experiencing a sharp V-shaped recovery. However, some crosswinds seem to be forming with modestly slowing economic growth and the COVID Delta ...
The Fed Sends a Signal
June 22, 2021
Back in early February, we wrote a piece claiming that if inflation continued to tack higher over time, then investors may start to debate whether or not a tapering of Fed asset purchases or a raising of interest rates could occur sooner than anticipated.
Goldilocks Can’t Find the Right Temperature
May 12, 2021
Right now, the bowl seems a bit too hot for investors’ liking. U.S. real gross domestic product (GDP) grew by an annualized rate of 6.4% in the first quarter of 2021, U.S. job openings surged to a record high of 8.1 million jobs in March, and the Consumer Price Index (CPI) ...
Too Hot to Handle?
March 2, 2021
Rising U.S. Treasury yields took center stage last week, sparking a further rotation into value and cyclical stocks and out of Technology stocks. In the United States, the S&P 500 tumbled 2.5% while the Dow Jones slipped 1.8%. The tech-heavy NASDAQ, which is more sensitive to ...