Economic Update 9-21-2020 Economic data for the week included the Federal Reserve keeping monetary policy unchanged, but with more dovish forward guidance. Retail sales and industrial production expanded, but at a slower pace than expected, as did the index of leading economic indicators. Housing results were mixed, although general consumer sentiment improved. Global equity markets […]

Economic Update 9-14-2020 On a holiday-shortened week, economic data included a tick upward in producer and consumer inflation, although levels remain tempered. Employment data remained mixed. U.S. equity markets declined last week, as profit-taking in certain higher-growth stock groups continued. Foreign stocks outperformed domestic stocks slightly, along with improved economic prospects. Bonds gained due to […]

Economic Update 09-08-2020 Economic data last week included mixed but generally pointed to expansion for manufacturing and services releases, as well as a better-than-expected employment situation report for August. U.S. and foreign equities both fell back last week, as growth stock strength reversed. Bonds ticked up slightly, although stronger economic data sustained interest rates. Commodities […]

Economic Update 08-31-2020 Economic data for the week included higher than expected durable goods orders, continued strength in house prices and new home sales, and largely stable elevated levels of jobless claims. Global equity markets gained last week upon hopes of Covid therapeutics and a ramped-up vaccine timeline, as well as decent economic news. Bonds […]

Economic Update 08-24-2020 Economic data for the week included strength in a variety of housing metrics, continued improvement in a broad index of leading economic indicators, but a pullback in several regional manufacturing indexes. U.S. equity markets gained upon continued stronger economic data and hopes for a near-term vaccine, while foreign stocks lost ground due […]

Economic Update 08-17-2020 Economic data for the week included further gains in retail sales, and industrial production, among other measures. Consumer sentiment and jobs results also showed improvement, all of which look to a stronger showing for the third quarter over the second. Global equities experienced gains last week as investors look ahead to economic […]

Economic Update 08-10-2020 Economic data for the week included strength in ISM manufacturing and non-manufacturing surveys, a better-than-expected employment situation report for July, and a slight improvement in jobless claims. Global equity markets inched higher last week with improved economic data and investor sentiment. Bonds were little changed, in keeping with minimal changes in the […]

Economic Update 08-03-2020 Economic data for the week included the Federal Reserve keeping monetary policy unchanged and accommodative, GDP for the 2nd quarter came in showing historical weakness as expected, jobless claims remained elevated, while housing data showed signs of life with building activity picking up and prices steady due to tight market inventory. U.S. […]

Economic Update 07-27-2020 Economic data for the week included stronger results for housing prices and sales activity, some of which was due to continued tight inventories. The index of leading economic indicators also showed signs of improvement. However, jobless claims rose, which disappointed relative to expectations. U.S. equity markets lost ground last week, while developed […]

  Following the market’s rebound, stocks are trading much closer to our fair value estimates. The stock market’s swift recovery has us seeing much less value in the North American equity market— although pockets of opportunity remain. As concerns about the coronavirus pandemic began to dissipate and economies reopened, the Morningstar US Market Index surged […]