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Portfolio Compass | August 15, 2018

COMPASS CHANGES No changes. INVESTMENT TAKEAWAYS We expect double-digit S&P 500 returns in 2018 (including dividends), driven by earnings growth potentially in the mid-to-high teens in 2018 thanks to a combination of steady economic growth, better corporate...

Does “Headline” Inflation Tell the Whole Story?

Last week’s inflation data showed that pricing pressures are at their strongest point of the economic cycle. To us, these reports are much less alarming than their headline readings suggest. While signs of price and wage pressures have been building, we believe the...

Market Update | August 15, 2018

Macro View Daily Insights Retail sales gain for a sixth consecutive month. U.S. retail sales increased 0.5% in July, posting sixth straight months of growth for the first time since 2014 and handily beating consensus estimates (0.1%). Excluding automobiles and gas,...

Rates Suggest Price Stability, Not Runaway Inflation

Several indicators suggest fixed-income investors are rightfully skeptical of recent signs suggesting pricing pressures are running too high. As shown in our LPL Chart of the Day, shorter-term break-even inflation rates have dropped to their lowest levels of the year,...

Market Update | August 14, 2018

Macro View Daily Insights Fixed income sentiment and inflation. Shorter-term breakeven inflation rates have dropped to their lowest levels of the year, implying market expectations for persistent inflation continue to dwindle. Today on the LPL Research blog, we...