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Don’t Fight the (xFEDx) ECB? (Part 1 of 2)

Weekly Market Commentary 9.15.2014 The European Central Bank (ECB) announced bold stimulus measures, including further cuts to key interest rates and an asset-backed securities (ABS) purchase plan, on September 4, 2014. The moves are an acknowledgment of the recent deterioration in the Eurozone economy and increased deflation risk. This decision follows the historic move to […]

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Back to School With the Three Rs: Revenues, Reinvestment, and Renaissance

Weekly Market Commentary 9.08.2014 Summer vacation is over and children are going back to school. As kids return to the classroom to learn the fundamentals of the “three Rs” (reading, ‘riting, and ‘rithmetic — but clearly not spellin’), in this commentary we return to the basic fundamentals of investing and look at some of the […]

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Midterms May Mean More Gains for Stocks

Weekly Market Commentary 9.02.2014 With the midterm elections now just two months away and campaigning starting to heat up, we thought we would share our current views on the political landscape and what it may mean for U.S equities. In our two Outlook 2014 publications for this year, we posited that the U.S. economy and […]

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Ready, Set, HIKE!

Weekly Market Commentary 8.25.2014 In only 10 days, the NFL regular season begins. Teams and coaches will be analyzing each other’s moves and plays, looking for any indication that can give them an edge to succeed. Some will play strong offense, others good defense from the moment of the first kickoff. Although some big plays […]

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Crystal Ball?

Weekly Market Commentary 8.18.2014 Since the dawn of financial markets, investors have been searching for signals of impending declines. Many economic indicators correlate highly with the stock market, which means they are coincident and not leading, and they tend to move at the same time as stocks. Some are lagging, meaning they move after stocks, […]

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Turning Down the Noise

Weekly Market Commentary 8.11.2014 Volume has picked up during the recent downturn. No, we are not talking about trading volumes; we are talking about the volume from your TVs with talking heads warning about an impending stock market downturn. If you turn off the TV and focus on what the market is telling you, rather […]

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Stock Market Valuations Suggest Bull Market Still Has Teeth

Weekly Market Commentary 8.04.2014 After hitting another all-time high on July 24, the S&P 500 Index fell for six consecutive trading days, leading to a 2.7% drop for stocks for the week ending August 1, 2014. Losing almost 3% in a week seems a minor concern given historical market ups and downs, especially in the […]

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Second Quarter Earnings Season Update

Weekly Market Commentary 7.28.2014 Amid the barrage of nearly constant economic and market data, nothing is more important to assess the health of corporate America than the quarterly check-in that we affectionately call earnings season. As earnings season approaches its halfway mark, it’s a good time to take a look at what we’ve learned so […]

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Is Congress Contemplating QE4?

Weekly Market Commentary 7.21.2014 This past Sunday marked the 45th anniversary of the Apollo 11 moon landing, when American astronauts Neil Armstrong and Buzz Aldrin became the first to set foot on the moon. If they had stayed there, what would their tax rate have been? The number of U.S. corporations seeking a “tax inversion” […]

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Counting Down the Months

Weekly Market Commentary 7.15.2014 After five-and-a-half years of keeping short-term rates in a range of 0 – 0.25%, many market participants believe the Federal Reserve (Fed) is now about 12 months away from hiking interest rates. This may affect markets in the months and quarters ahead as investors begin to brace for a change in […]

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