U.S. Economy Shrinks at Record 32.9% Pace in Second Quarter: Gross domestic product shrank 9.5% in the second quarter from the first, a drop that equals an annualized pace of 32.9%, the Commerce Department’s initial estimate showed on Thursday. That is the steepest annualized decline in quarterly records dating back to 1947, and compares with…
DetailsINVESTMENT UPDATE CALL: Members of our Investment Committee held an investment update call on July 23, with a closer look at our latest thinking, outlook, and changes we’ve implemented. Click Here to Listen. REVISITING RMD SUSPENSIONS WITHIN THE CARES ACT: Due to this massive piece of legislation not being ratified until the end of…
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THE WEEK ON WALL STREET: Last week, the the Standard & Poor’s 500 rose 1.27%. The MSCI ACWI Index, a broad measure of equity-market performance throughout the world, also rose 1.19%. Additionally, the Barclays Global Bond Index also rose 0.25%. QUARTERLY MARKET COMMENTARY: In case you missed last week’s quarterly commentary from our Investment Committee,…
DetailsReopening the Economy is Showing Positive Results—But at What Cost? While the easing of US economic lock-downs has generated an expected rebound in economic activity in May and June, the recent resurgence in corona-virus infections is likely to slow the pace of recovery in the second half of the year. The latest estimates are for…
DetailsTHE WEEK ON WALL STREET: Last week, the Standard & Poor’s 500 dropped 2.86%. The MSCI ACWI Index, a broad measure of equity-market performance throughout the world, also fell 2.06%. Meanwhile, the Barclays Global Bond Index managed to rise 0.16%. REVISITING RMD SUSPENSIONS WITHIN THE CARES ACT: Because this massive piece of legislation was not…
DetailsTHE WEEK ON WALL STREET: Last week, the the Standard & Poor’s 500 rose 1.88%. The MSCI ACWI Index, a broad measure of equity-market performance throughout the world advanced 2.01%. Meanwhile, the Barclays Global Bond Index was near break even for the week at -0.03%. COVID RECOVERY TRACKER: Oxford Economics recently created a weekly…
DetailsTHE WEEK ON WALL STREET: Last week, the Standard & Poor’s 500 dropped 4.8%. The MSCI ACWI Index, a broad measure of equity-market performance throughout the world, also dipped 4.13%. Meanwhile, the AGG rose 0.6%. THE SPIKE IN COVID-19 CASES: New coronavirus infections are rising in at least 20 states, even as restrictions on…
DetailsMARKETS IN REVIEW: UPSIDE SURPRISE ON PAYROLL: The chart below was created early last week as a prediction for one measure of unemployment. The broad consensus was that the labor picture had continued to deteriorate significantly last month. When the May jobs report came out on Friday, it turns out payrolls increased by 2.5…
DetailsU.S. CITIES STILL RECOVERING FROM LOCKDOWN: The reopening of America was always going to be fraught with competing fears of new virus outbreaks and an economic meltdown. Now cities across the nation, from New York to Chicago to Los Angeles, are reeling from unrest that could worsen both. Violence erupted in dozens of cities following…
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