2019 was a baffling year for bonds. The 10-year U.S. Treasury yield fell to a three-year low, and the yield curve flashed ominous signals about the economic outlook…

Research
Ambling Along in 2020 | Weekly Market Commentary | December 9, 2019
U.S. economic growth has slowed in 2019. However, the economy is still growing, and we believe it will continue growing through 2020…
Outlook 2020: Client Letter
Hindsight is 20/20, but finding clarity in future uncertainty can be fuzzy. 2019 has been a very rewarding year for investors…
Outlook 2020: Printer-Friendly
Trade risk, slower global growth, and the impeachment inquiry have garnered a lot of the headlines recently, but behind the scenes the U.S. economy has remained resilient…
Technicals Check-In | Weekly Market Commentary | December 2, 2019
Market momentum, global participation, and technical support all provide reasons to think gains may not be over for 2019…
Have We Hit the Earnings Bottom? | Weekly Market Commentary | November 25, 2019
While earnings declined year over year in the third quarter, results still exceeded expectations…
Recession Watch | Weekly Market Commentary | November 18, 2019
Why would we write a report about recession with the S&P 500 at record highs? Consider it a check-up. Just because you feel good doesn’t mean you skip your annual physical at the doctor…
Market Insight Monthly | October 2019
Gross domestic product (GDP) grew 1.9% in the third quarter, its slowest pace of growth since the fourth quarter of 2018.
A Tale of Two Economies | Weekly Market Commentary | November 11, 2019
Consumer spending has powered the U.S. economy this year as businesses curb investments, waiting for trade and geopolitical uncertainty to fade.
Reaching New Highs | Client Letter | November 7, 2019
Turning the calendar from October to November brought more than trick-or-treaters, pumpkins, and leaves to rake…