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Five Forecasters | Weekly Economic Commentary | May 28, 2019

KEY TAKEAWAYS Our Five Forecasters collectively point to economic growth ahead. Leading indicators are still rising, but the pace has slowed recently. Yield curve inversion looks manageable given positive signs from other indicators. Click here to download a PDF of...

A Step Back On Trade | Weekly Economic Commentary | May 20, 2019

KEY TAKEAWAYS The United States has raised tariffs to 25% on $200 billion of Chinese goods. Even in the worst-case scenario, we don’t expect a significant impact on the U.S. economy. Raising tariffs could put upward pressure on consumer inflation. Click here to...

Earnings Season Takeaways | Weekly Market Commentary | May 20, 2019

KEY TAKEAWAYS We consider first quarter earning season a success based on the upside surprise and resilience of estimates for the rest of this year. It appears an earnings recession has been averted and better earnings days lie ahead, though trade uncertainty is a...

Portfolio Compass | May 16, 2019

COMPASS CHANGES Lowered long-term muni view from Neutral/Positive to Neutral INVESTMENT TAKEAWAYS With the S&P 500 Index near our year-end fair value target of 3,000, coupled with the slightly softer economic and profit growth outlook, we believe a market weight...