The recent collection of labor data has painted a mixed jobs picture, but underlying wage strength and still-strong payroll growth will likely keep the Fed in a hawkish position.
Given attractive yields and strong credit conditions, we have a positive view on the municipal bond market for the second half of the year.
India's growth initiatives and demographics may help its economy continue to advance; its stocks seem to have priced in high expectations for the world's fifth-largest economy.
After falling into its own recession last year, the housing market has started to turn decisively higher; but a sustained recovery might not be the strongest elixir for the economy.
We expect generally good performance during the second half of the year, although volatility may increase, especially for high-yield bonds.
Japanese stocks may help boost the performance of international markets although the unique nature of Japan's economic and business structure could pose some risks.
Though recent data suggests China's re-opening growth has slowed, it's likely temporary. As China's recovery continues, it may have implications for U.S. inflation and rates.
With unanimity, the Federal Open Market Committee held the federal funds rate in its current range, but updated projections suggest this rate-hike cycle is not yet over.
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Most of the things we expected to happen during the first half of the year in fact did: Inflation eased, U.S. economic growth slowed, the Federal Reserve appears to be near the end of its rate-hike cycle, and the U.S. government debt ceiling standoff was resolved before a potential default.
Sometimes it feels like the economy and markets are on different tracks.
The meaning of "wealth" goes far beyond having a lot of money. It's more about what money can do for you.
A broadening out in market performance would help bolster a more sustainable stock rally, but that hinges on increasing clarity for monetary policy, recession risk, and bank stress.
Despite high volatility in the bond market during the first half of the year, what's surprising is how much didn't change.
The drama characterizing the first half of 2023 may abate, with potentially milder returns for investors due to the effects of the Cardboard Box Recession.
The measure ends weeks of negotiation and unease about a potentially catastrophic government default.
The concentration of gains up the cap spectrum isn't itself a precursor to weakness; it's the lack of participation from the "average stock" that warrants some caution.
While we don't expect the U.S. government to default, the uncertainty may heighten market volatility in coming days. Here are answers to some of the questions we're hearing most often.
Although few nations have a debt ceiling similar to the U.S.', rising government debt levels are a widespread global risk that may lead to lower economic output and weaker growth.
Bonds issued by government-sponsored enterprises can offer slightly higher yields than U.S. Treasuries, without requiring investors to take on too much additional risk.
Banks and financial institutions are big issuers of preferred securities, so the recent banking industry volatility has had an impact. Our guidance on preferreds is unchanged but with some caveats.
Analysis shows an extraordinary range of outcomes since the S&P 500's inception in 1928.
As the credit market grows more stringent, investors should consider high-quality, longer-term bonds. Here are some fixed-income strategies.
Political brinkmanship in Washington adds to concerns about the economy.
The central bank likely won't have enough reason to hike rates again this cycle. In fact, we wouldn't be surprised to see one or two rate cuts later this year.
Shifts in the labor market due to monetary policy tightening would see lagged effects that may not aid central banks' efforts to materially affect core inflation by year's end.
Equities rise as jobs surprise the upside. The U.S. jobs market remains resilient as nonfarm payrolls beat expectations in April.
With unanimity, the Federal Open Market Committee raised the Fed funds rate by 25 basis points in May and signaled that further tightening will depend on various economic factors.
Leadership shifts at the sector and style levels warrant some additional caution, as well as a closer look as to what investors are buying when it comes to "growth vs. value."
Although investing in in-state municipal bonds may have tax advantages, there can be good reasons to buy out-of-state munis.
Although the House narrowly approved a bill designed to jumpstart negotiations, the issue is far from resolved.
China’s domestically driven economic growth has not yet translated to Emerging Market stock performance, which has tended to have been weighed down by international political tensions.
Corporate bond investors may be wondering if banking sector turmoil will affect financial institution bond issuers. Here's what to know now.
What does a potential change in Federal Reserve policy mean for markets and the economy?
Although central banks may be near the end of the rate hike cycle, short-duration stocks may still be an attractive investment theme should interest rates remain at higher levels.
Trading might be muted today as the market pivots, awaiting earnings and inflation data this week.
In the face of banking stress and a hawkish Federal Reserve, stocks have advanced impressively so far this year, but narrow breadth doesn't bode well for continued strength.
Natural gas prices remain in their steep price decline as the prospects for a large gas surplus heading into the spring is keeping buying interest at bay.
Stocks built on overnight gains and Treasury yields inched lower following today's relatively benign February PCE inflation data.
The Senate Banking Committee held a hearing to investigate the collapse of Signature Bank (SBNY) and Silicon Valley Bank (SIVB/SIVBQ) that brought to discussion possible changes for the entire banking system.
As we discussed last week in Looking to the Futures, natural gas prices have been plagued by the perfect storm of lower demand and higher production throughout the withdrawal season.
Stocks fell and volatility rose this morning as banking sector worries persist.
U.S. stocks climbed for a second straight day Tuesday, with the tech-focused Nasdaq Composite ending near a five-week high, as jitters over bank instability eased.
U.S. equities are lower as pressure has returned to the banking sector, which remains top of mind.
What our experts think about today's market action.
U.S. stocks are falling in pre-market trading as recent banking turmoil on this side of the pond made its way to Europe.
U.S. stocks are extending last week's sharp declines that have come amid worries regarding the ultimate impact on the banking sector of the recent collapses of SVB Financial and Silvergate Capital.
U.S. equities are modestly higher in pre-market action following the February labor report that was only modestly above estimates.
U.S. stocks are higher, paring weekly losses though the markets remain choppy following this week's hawkish Congressional testimony from Fed Chairman Jerome Powell.
Given the topsy-turvy nature of the market thus far in 2023, it remains crucial for investors to know what they are buying—especially as it relates to growth, value, and quality.