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...
KEY TAKEAWAYS First quarter productivity rose at the fastest year-over-year pace since 2010. Higher productivity could help support output growth as the expansion ages. Increased productivity also helps promote economically healthy wage growth. Click here to download...
KEY TAKEAWAYS Escalating U.S.-China trade tensions caused stocks to sell off more than 2% last week. Globally exposed sectors paced last week’s declines, namely materials, industrials, and technology. The maximum peak-to-trough decline of less than 3% so far this year...
ECONOMY GREEN SHOOTS IN APRIL ECONOMIC DATA Green shoots appeared in U.S. economic data as the economy entered the second quarter. Leading indicators signaled low odds of a recession in the coming year. The Conference Board’s Leading Economic Index (LEI) rose 3.1%...
KEY TAKEAWAYS Markets are positioning for the first Fed rate cut in 10 years. Consumer inflation has weakened, but we (and the Fed) believe the slowdown is temporary. Improving economic conditions support a continued Fed pause. Click here to download a PDF of this...
