We write you on the eve of a Thanksgiving that will be a different one from usual for countless of us. As you know well, we all have been set upon by a global pandemic for almost the entire year. Covid-19 has upended lives and livelihoods, strained health care systems, and...
Market Currents October’s Volatility. The stock market hit a speed bump in October, as investors reacted to a global resurgence of the coronavirus, concerns over the possibility of additional economic shutdowns or restrictions, the realization that any US fiscal stimulus would likely...
Market Currents Strong End to Quarter. Despite a pickup in volatility and negative results in September, a strong July, and the best August performance in over three decades helped push most indices into positive territory on the full quarter. For the year, the S&P 500 is up...
Market Currents End of Q3. Despite a pickup in volatility and negative results in September, a strong July, and the best August performance in over three decades helped push most indices into positive territory on the full quarter. For the year, the S&P 500 is up nearly 6% as...
The S&P 500 hit a fresh all-time closing high earlier this week, eclipsing its prior high set on February 19th, and is now up nearly 6% on the year. Shortly after its February milestone, the market went into freefall, as the rapid spread and severity of the coronavirus pandemic became...
Market Currents Back in the Green. The S&P 500 benchmark erased its loss for the year as the market continued its grinding move higher. July provided further evidence that economic activity has improved since lockdowns were lifted, even as news of a resurgence of the pandemic...
Market Currents In a dramatic reversal, the rocky start to the year was followed by an impressive rally in the second quarter that was among the best in decades. Across the board, risk assets rebounded as investors grew increasingly optimistic over prospects for an economic...
Stocks’ Recovery Continues Equities continued their move higher in May, building on the positive momentum seen the month prior. Aggressive policy action from the Federal Reserve has helped to ease prior strains in credit markets, and fiscal support from Congress has lent some cushion against...
Since our last message to you, the world has managed some solid progress in its battle to contain the spread of COVID-19. In the US and most of Western Europe, the trend in new cases peaked in late March to early April, and most importantly, the overwhelming case surge that threatened to swamp...
Market Rebound Massive global fiscal and monetary responses fueled a strong market rebound in April, despite macroeconomic data that showed the epic (and continuing) economic cost of the COVID-19 shutdowns. Volatility has declined from the extreme levels seen during the worst of the drawdown in...